Citadel Advisors LLC purchased a new stake in shares of Ferro Co. (NYSE:FOE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,595 shares of the specialty chemicals company’s stock, valued at approximately $439,000.
Other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its stake in shares of Ferro by 5.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 331,648 shares of the specialty chemicals company’s stock valued at $7,824,000 after purchasing an additional 17,884 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Ferro by 1.6% during the 4th quarter. BlackRock Inc. now owns 5,437,831 shares of the specialty chemicals company’s stock worth $128,277,000 after acquiring an additional 87,119 shares during the last quarter. Intrust Bank NA lifted its stake in shares of Ferro by 39.3% during the 4th quarter. Intrust Bank NA now owns 13,104 shares of the specialty chemicals company’s stock worth $309,000 after acquiring an additional 3,696 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Ferro by 23.9% during the 4th quarter. Wells Fargo & Company MN now owns 240,211 shares of the specialty chemicals company’s stock worth $5,668,000 after acquiring an additional 46,313 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Ferro by 2.7% during the 4th quarter. Swiss National Bank now owns 135,400 shares of the specialty chemicals company’s stock worth $3,194,000 after acquiring an additional 3,500 shares during the last quarter. 95.72% of the stock is owned by institutional investors.
FOE has been the topic of several research reports. Seaport Global Securities restated a “buy” rating on shares of Ferro in a report on Tuesday, March 6th. ValuEngine upgraded Ferro from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Northcoast Research restated a “buy” rating and set a $28.00 price objective on shares of Ferro in a report on Tuesday, March 6th. Finally, Zacks Investment Research upgraded Ferro from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, January 4th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $24.50.
Shares of FOE stock traded up $0.17 during mid-day trading on Friday, reaching $23.70. The company had a trading volume of 674,649 shares, compared to its average volume of 378,086. Ferro Co. has a 1 year low of $14.15 and a 1 year high of $25.50. The company has a current ratio of 2.32, a quick ratio of 1.41 and a debt-to-equity ratio of 2.04. The stock has a market cap of $1,992.91, a P/E ratio of 34.85 and a beta of 1.76.
Ferro (NYSE:FOE) last announced its earnings results on Wednesday, February 28th. The specialty chemicals company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Ferro had a return on equity of 33.58% and a net margin of 4.08%. The firm had revenue of $377.54 million for the quarter, compared to the consensus estimate of $336.94 million. During the same period in the previous year, the business earned $0.27 EPS. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. sell-side analysts predict that Ferro Co. will post 1.58 EPS for the current year.
In other news, Chairman Peter T. Thomas sold 73,583 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark Hugo Duesenberg sold 18,000 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $23.89, for a total value of $430,020.00. Following the completion of the transaction, the general counsel now directly owns 130,545 shares of the company’s stock, valued at approximately $3,118,720.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,583 shares of company stock valued at $2,869,836. 2.02% of the stock is currently owned by insiders.
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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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