Ferro (NYSE:FOE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “FERRO CORP. is a worldwide producer of specialty materials for industry by organic and inorganic chemistry. It operates in 21 countries worldwide. Ferro produces a variety of specialty coatings, colors, ceramics, plastics, chemicals, and related products and services. Ferro’s most important product is frit produced for use in porcelain enamels and ceramic glazes. Ferro specialty materials require a high degree of technical service on an individual customer basis. “
Several other equities analysts have also recently commented on the company. KeyCorp restated an “overweight” rating on shares of Ferro in a research report on Friday, November 10th. ValuEngine cut Ferro from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Ferro presently has an average rating of “Buy” and an average target price of $23.80.
Ferro (NYSE FOE) traded up $0.12 during trading on Tuesday, reaching $23.54. The company had a trading volume of 346,800 shares, compared to its average volume of 421,264. Ferro has a twelve month low of $13.55 and a twelve month high of $25.50. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.53 and a current ratio of 2.48. The stock has a market capitalization of $1,963.94, a PE ratio of 44.42 and a beta of 1.94.
Ferro (NYSE:FOE) last posted its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Ferro had a return on equity of 35.77% and a net margin of 3.44%. The business had revenue of $350.01 million during the quarter, compared to analysts’ expectations of $332.28 million. During the same period in the previous year, the business earned $0.27 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis. equities research analysts predict that Ferro will post 1.29 EPS for the current year.
In other Ferro news, CFO Benjamin Schlater sold 12,663 shares of Ferro stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $23.50, for a total transaction of $297,580.50. Following the completion of the sale, the chief financial officer now owns 6,495 shares of the company’s stock, valued at $152,632.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald P. Vargo sold 12,000 shares of Ferro stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $24.13, for a total value of $289,560.00. Following the sale, the director now directly owns 43,450 shares of the company’s stock, valued at approximately $1,048,448.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 177,428 shares of company stock valued at $4,192,872. Corporate insiders own 2.02% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOE. Amalgamated Bank lifted its stake in shares of Ferro by 5.5% in the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after acquiring an additional 564 shares during the last quarter. Intrust Bank NA bought a new stake in shares of Ferro in the 3rd quarter valued at about $210,000. Principal Financial Group Inc. lifted its stake in shares of Ferro by 1.0% in the 2nd quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock valued at $213,000 after acquiring an additional 120 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Ferro in the 3rd quarter valued at about $217,000. Finally, TIAA FSB bought a new stake in shares of Ferro in the 2nd quarter valued at about $256,000. 97.90% of the stock is owned by institutional investors.
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Ferro Company Profile
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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