There is an Italian surname Ferraglio, so you can't claim intellectual property rights. It probably comes from a place name, Ferraglia, near Florence. Balestegui must be another spelling of BalasteguÃ, a Basque surname from a place name. It may mean something like "place of crows", though I think there are other interpretations.
In fact Ferraglio comes from the northerm region of Lombardy, from the area of BRESCIA, North of this city. the second city of Lombardy. It could come from the word "Ferro", iron. But the origin if this surname is not clear.