Argent Capital Management LLC grew its position in shares of Ferro Corporation (NYSE:FOE) by 8.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 188,405 shares of the specialty chemicals company’s stock after buying an additional 15,310 shares during the quarter. Argent Capital Management LLC owned 0.22% of Ferro worth $4,201,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Mutual of America Capital Management LLC lifted its position in Ferro by 5.2% during the second 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 during the period. BNP Paribas Arbitrage SA raised its position in shares of Ferro by 3,040.9% during 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 during the period. Kennedy Capital Management Inc. raised its position in shares of Ferro by 15.1% during 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 during the period. Royal Bank of Canada raised its position in shares of Ferro by 14.4% during 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 during the period. Finally, Paradice Investment Management LLC raised its position in shares of Ferro by 124.5% during 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 during the period. Institutional investors own 97.85% of the company’s stock.
FOE has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Ferro from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Longbow Research restated a “buy” rating and issued a $24.00 target price (up previously from $22.00) on shares of Ferro in a report on Wednesday, August 23rd. Finally, KeyCorp reiterated a “buy” rating and set a $23.00 price objective on shares of Ferro in a report on Friday, September 1st. Seven analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $23.60.
In other news, CEO Peter T. Thomas sold 22,182 shares of Ferro stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $22.83, for a total value of $506,415.06. Following the transaction, the chief executive officer now owns 374,158 shares of the company’s stock, valued at approximately $8,542,027.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronald P. Vargo sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $24.13, for a total transaction of $289,560.00. Following the sale, the director now directly owns 43,450 shares in the company, valued at approximately $1,048,448.50. The disclosure for this sale can be found here. 2.02% of the stock is owned by insiders.
Shares of Ferro Corporation (NYSE FOE) traded down $0.26 during trading on Tuesday, hitting $23.39. 373,000 shares of the stock were exchanged, compared to its average volume of 516,653. 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 has a 52-week low of $13.55 and a 52-week high of $25.50. The stock has a market cap of $1,960.00, a P/E ratio of 18.48 and a beta of 1.90.
Ferro (NYSE:FOE) last issued its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Ferro had a net margin of 3.44% and a return on equity of 35.77%. The firm had revenue of $350.01 million for the quarter, compared to the consensus estimate of $332.28 million. During the same quarter in the previous year, the firm earned $0.27 EPS. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. equities research analysts expect that Ferro Corporation will post 1.29 earnings per share for the current fiscal year.
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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