Ferro Co. (NYSE:FOE) Chairman Peter T. Thomas sold 73,583 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $23.51, for a total value of $1,729,936.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Ferro Co. (FOE) opened at $24.34 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.48 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $2,010.00, a PE ratio of 46.81 and a beta of 1.94. Ferro Co. has a fifty-two week low of $13.55 and a fifty-two week high of $25.50.
Ferro (NYSE:FOE) last released its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $350.01 million during the quarter, compared to the consensus estimate of $332.28 million. Ferro had a return on equity of 35.77% and a net margin of 3.44%. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. research analysts anticipate that Ferro Co. will post 1.29 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC grew its stake in Ferro by 5.2% in the second quarter. Mutual of America Capital Management LLC now owns 553,847 shares of the specialty chemicals company’s stock valued at $10,130,000 after purchasing an additional 27,340 shares during the last quarter. Kennedy Capital Management Inc. grew its stake in Ferro by 15.1% in the second quarter. Kennedy Capital Management Inc. now owns 1,348,104 shares of the specialty chemicals company’s stock valued at $24,657,000 after purchasing an additional 176,443 shares during the last quarter. Royal Bank of Canada grew its stake in Ferro by 14.4% in the second quarter. Royal Bank of Canada now owns 1,094,643 shares of the specialty chemicals company’s stock valued at $20,021,000 after purchasing an additional 138,061 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Ferro by 4.6% in the third quarter. JPMorgan Chase & Co. now owns 1,581,662 shares of the specialty chemicals company’s stock valued at $35,112,000 after purchasing an additional 69,335 shares during the last quarter. Finally, Wasatch Advisors Inc. grew its stake in Ferro by 16.2% in the third quarter. Wasatch Advisors Inc. now owns 133,648 shares of the specialty chemicals company’s stock valued at $2,980,000 after purchasing an additional 18,648 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.
A number of analysts recently issued reports on the company. ValuEngine downgraded Ferro from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research downgraded Ferro from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, KeyCorp reiterated an “overweight” rating and set a $27.00 target price (up from $23.00) on shares of Ferro in a research report on Friday, October 13th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Ferro currently has an average rating of “Buy” and a consensus target price of $23.80.
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Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.
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