Ferro Corporation (NYSE:FOE) CEO Peter T. Thomas sold 22,182 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $22.83, for a total value of $506,415.06. Following the completion of the transaction, the chief executive officer now owns 374,158 shares of the company’s stock, valued at approximately $8,542,027.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Ferro Corporation (NYSE FOE) traded down $0.05 during midday trading on Friday, reaching $23.91. The company’s stock had a trading volume of 434,056 shares, compared to its average volume of 517,105. The stock has a market cap of $1,948.84, a PE ratio of 18.16 and a beta of 1.90. Ferro Corporation has a 52-week low of $13.55 and a 52-week high of $24.84. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.53 and a current ratio of 2.48.
Ferro Corporation (NYSE:FOE) last released its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $350.01 million during the quarter, compared to analysts’ expectations of $332.28 million. Ferro Corporation had a return on equity of 35.77% and a net margin of 3.44%. Ferro Corporation’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. equities analysts anticipate that Ferro Corporation will post 1.29 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Mutual of America Capital Management LLC raised its position in shares of Ferro Corporation by 5.2% in the 2nd 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 in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Ferro Corporation by 3,040.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 91,148 shares of the specialty chemicals company’s stock valued at $1,667,000 after purchasing an additional 88,246 shares in the last quarter. Kennedy Capital Management Inc. raised its position in shares of Ferro Corporation by 15.1% in the 2nd 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 in the last quarter. Royal Bank of Canada raised its position in shares of Ferro Corporation by 14.4% in the 2nd 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 in the last quarter. Finally, Paradice Investment Management LLC raised its position in shares of Ferro Corporation by 124.5% in the 2nd quarter. Paradice Investment Management LLC now owns 2,266,259 shares of the specialty chemicals company’s stock valued at $27,082,000 after purchasing an additional 1,256,703 shares in the last quarter. 97.57% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on FOE. KeyCorp restated an “overweight” rating on shares of Ferro Corporation in a report on Friday, November 10th. Zacks Investment Research upgraded Ferro Corporation from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Friday, October 13th. Six analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $23.60.
Ferro Corporation Company Profile
Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel. Its manufacturers make products for various end-use markets.
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