California State Teachers Retirement System cut its position in Ferro Co. (NYSE:FOE) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,150 shares of the specialty chemicals company’s stock after selling 14,297 shares during the period. California State Teachers Retirement System owned 0.16% of Ferro worth $2,992,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Mutual of America Capital Management LLC lifted its position in shares of Ferro by 5.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 553,847 shares of the specialty chemicals company’s stock worth $10,130,000 after buying an additional 27,340 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Ferro by 4.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,581,662 shares of the specialty chemicals company’s stock worth $35,112,000 after purchasing an additional 69,335 shares during the period. Royal Bank of Canada raised its holdings in shares of Ferro by 14.4% in the 2nd quarter. Royal Bank of Canada now owns 1,094,643 shares of the specialty chemicals company’s stock worth $20,021,000 after purchasing an additional 138,061 shares during the period. Wasatch Advisors Inc. raised its holdings in shares of Ferro by 16.2% in the 3rd quarter. Wasatch Advisors Inc. now owns 133,648 shares of the specialty chemicals company’s stock worth $2,980,000 after purchasing an additional 18,648 shares during the period. Finally, TIAA FSB bought a new stake in shares of Ferro in the 2nd quarter worth approximately $256,000. Institutional investors own 97.70% of the company’s stock.
A number of research firms recently commented on FOE. ValuEngine raised shares of Ferro from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research cut shares of Ferro from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, KeyCorp restated an “overweight” rating on shares of Ferro in a research report on Friday, November 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Ferro has an average rating of “Buy” and a consensus target price of $23.80.
Shares of Ferro Co. (FOE) traded down $0.77 during trading hours on Friday, reaching $22.59. 367,358 shares of the company traded hands, compared to its average volume of 380,701. Ferro Co. has a one year low of $13.55 and a one year high of $25.50. The stock has a market capitalization of $1,958.91, a price-to-earnings ratio of 42.62 and a beta of 1.72. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.48 and a quick ratio of 1.53.
Ferro (NYSE:FOE) last issued its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS 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 net margin of 3.44% and a return on equity of 35.77%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 earnings per share. equities analysts predict that Ferro Co. will post 1.29 earnings per share for the current fiscal year.
In other Ferro news, Chairman Peter T. Thomas sold 73,583 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $23.51, for a total value of $1,729,936.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Mark Hugo Duesenberg sold 17,000 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $24.76, for a total transaction of $420,920.00. Following the completion of the sale, the general counsel now owns 137,545 shares in the company, valued at approximately $3,405,614.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 177,428 shares of company stock valued at $4,192,872. 2.02% of the stock is owned by insiders.
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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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