Ferro Co. (NYSE:FOE) Director David A. Lorber bought 2,500 shares of Ferro stock in a transaction on Tuesday, May 14th. The stock was purchased at an average price of $15.51 per share, with a total value of $38,775.00. Following the completion of the acquisition, the director now directly owns 22,000 shares of the company’s stock, valued at approximately $341,220. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Ferro stock traded up $0.18 during trading hours on Thursday, reaching $15.79. The stock had a trading volume of 621,018 shares, compared to its average volume of 1,017,191. The company has a market capitalization of $1.26 billion, a PE ratio of 10.53, a P/E/G ratio of 1.18 and a beta of 1.73. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.47 and a current ratio of 2.55. Ferro Co. has a 52 week low of $14.59 and a 52 week high of $23.88.
Ferro (NYSE:FOE) last announced its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. Ferro had a net margin of 4.41% and a return on equity of 30.06%. The business had revenue of $387.50 million during the quarter, compared to the consensus estimate of $396.60 million. During the same period in the previous year, the company posted $0.36 earnings per share. The firm’s revenue was down 4.4% on a year-over-year basis. On average, equities analysts predict that Ferro Co. will post 1.39 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of Ferro during the first quarter valued at about $253,000. Goldman Sachs Group Inc. increased its holdings in shares of Ferro by 58.3% during the first quarter. Goldman Sachs Group Inc. now owns 488,164 shares of the specialty chemicals company’s stock valued at $9,240,000 after acquiring an additional 179,814 shares in the last quarter. Oxford Asset Management LLP acquired a new position in shares of Ferro during the first quarter valued at about $3,758,000. Voya Investment Management LLC increased its holdings in shares of Ferro by 39.8% during the first quarter. Voya Investment Management LLC now owns 50,301 shares of the specialty chemicals company’s stock valued at $952,000 after acquiring an additional 14,327 shares in the last quarter. Finally, Pinebridge Investments L.P. acquired a new position in shares of Ferro during the first quarter valued at about $81,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.
A number of equities analysts have commented on FOE shares. ValuEngine upgraded shares of Ferro from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Deutsche Bank reduced their target price on shares of Ferro from $23.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Zacks Investment Research downgraded shares of Ferro from a “strong-buy” rating to a “hold” rating in a report on Monday, January 21st. KeyCorp reduced their target price on shares of Ferro from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, Northcoast Research downgraded shares of Ferro from a “buy” rating to a “neutral” rating in a report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $20.17.
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Ferro Corporation produces specialty materials in the United States and internationally. It operates through three segments: Performance Coatings, Performance Colors and Glass, and Color Solutions. The company offers frits, porcelain and other glass enamels, glazes, stains, decorating colors, pigments, inks, polishing materials, dielectrics, electronic glasses, and other specialty coatings.
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