Insider Selling: Ferro Co. (FOE) Chairman Sells 73,583 Shares of Stock

Ferro Co. (NYSE:FOE) Chairman Peter T. Thomas sold 73,583 shares of the firm’s stock in a transaction that occurred on 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 filing with the SEC, which is available through this link.

Shares of Ferro Co. (FOE) traded up $0.05 during mid-day trading on Wednesday, hitting $23.85. The company had a trading volume of 364,914 shares, compared to its average volume of 425,207. Ferro Co. has a 52-week low of $13.55 and a 52-week high of $25.50. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.48 and a quick ratio of 1.53. The company has a market cap of $1,990.00, a price-to-earnings ratio of 45.87 and a beta of 1.94.

Ferro (NYSE:FOE) last issued its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Ferro had a return on equity of 35.77% and a net margin of 3.44%. The firm had revenue of $350.01 million during the quarter, compared to analyst estimates of $332.28 million. During the same period last year, the company earned $0.27 EPS. Ferro’s quarterly revenue was up 21.3% compared to the same quarter last year. equities research analysts anticipate that Ferro Co. will post 1.29 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on FOE. Zacks Investment Research raised Ferro from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Tuesday, September 5th. ValuEngine lowered Ferro from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Finally, KeyCorp reissued an “overweight” rating and set a $27.00 price target (up from $23.00) on shares of Ferro in a research note on Friday, October 13th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Ferro presently has a consensus rating of “Buy” and an average price target of $23.60.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in Ferro by 1.0% during the 2nd quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock worth $213,000 after purchasing an additional 120 shares during the period. Highlander Capital Management LLC increased its holdings in Ferro by 0.4% during the 2nd quarter. Highlander Capital Management LLC now owns 56,200 shares of the specialty chemicals company’s stock worth $1,028,000 after purchasing an additional 200 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Ferro by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,370 shares of the specialty chemicals company’s stock worth $1,178,000 after purchasing an additional 519 shares during the period. Amalgamated Bank increased its holdings in Ferro by 5.5% during the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock worth $197,000 after purchasing an additional 564 shares during the period. Finally, Cipher Capital LP increased its holdings in Ferro by 2.6% during the 3rd quarter. Cipher Capital LP now owns 100,712 shares of the specialty chemicals company’s stock worth $2,246,000 after purchasing an additional 2,505 shares during the period. Institutional investors own 97.26% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Ferro (NYSE:FOE)

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