Wilen Investment Management CORP. cut its stake in shares of Ferro Co. (NYSE:FOE) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 222,446 shares of the specialty chemicals company’s stock after selling 5,800 shares during the quarter. Ferro makes up 3.4% of Wilen Investment Management CORP.’s portfolio, making the stock its 9th largest holding. Wilen Investment Management CORP. owned about 0.27% of Ferro worth $5,172,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of FOE. Intrust Bank NA purchased a new stake in shares of Ferro in the third quarter valued at $210,000. SG Americas Securities LLC purchased a new stake in shares of Ferro during the fourth quarter worth $211,000. Prudential Financial Inc. acquired a new position in Ferro during the third quarter worth $217,000. Cubist Systematic Strategies LLC acquired a new position in Ferro during the second quarter worth $295,000. Finally, Campbell Newman Asset Management Inc. increased its position in Ferro by 22.2% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 13,962 shares of the specialty chemicals company’s stock worth $329,000 after buying an additional 2,539 shares during the last quarter. 95.61% of the stock is owned by institutional investors.
In other Ferro news, CFO Benjamin Schlater sold 12,663 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $23.50, for a total transaction of $297,580.50. Following the sale, the chief financial officer now directly owns 6,495 shares of the company’s stock, valued at approximately $152,632.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James Barna sold 12,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $23.37, for a total transaction of $280,440.00. Following the transaction, the insider now owns 8,428 shares in the company, valued at $196,962.36. The disclosure for this sale can be found here. Insiders sold a total of 143,246 shares of company stock valued at $3,396,897 in the last three months. 2.02% of the stock is owned by company insiders.
Several equities research analysts have 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 cut shares of Ferro from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, KeyCorp restated an “overweight” rating on shares of Ferro in a research note on Friday, November 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $23.80.
Shares of Ferro Co. (FOE) traded up $0.24 during trading on Friday, hitting $22.43. 131,986 shares of the company were exchanged, compared to its average volume of 389,707. The company has a current ratio of 2.48, a quick ratio of 1.53 and a debt-to-equity ratio of 1.94. Ferro Co. has a fifty-two week low of $13.56 and a fifty-two week high of $25.50. The firm has a market capitalization of $1,845.70, a price-to-earnings ratio of 17.19 and a beta of 1.72.
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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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