Ferro (FOE) Reaches New 12-Month Low at $17.90

Ferro Co. (NYSE:FOE) reached a new 52-week low during trading on Wednesday . The company traded as low as $17.90 and last traded at $18.26, with a volume of 22851 shares traded. The stock had previously closed at $18.40.

FOE has been the topic of a number of research analyst reports. Zacks Investment Research lowered Ferro from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Gabelli reaffirmed a “buy” rating on shares of Ferro in a research report on Friday, July 27th. Finally, ValuEngine lowered Ferro from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.00.

The stock has a market capitalization of $1.95 billion, a P/E ratio of 14.26, a PEG ratio of 0.94 and a beta of 1.70. The company has a quick ratio of 1.56, a current ratio of 2.67 and a debt-to-equity ratio of 2.12.

Ferro (NYSE:FOE) last released its quarterly earnings results on Wednesday, July 25th. The specialty chemicals company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The company had revenue of $416.20 million for the quarter, compared to analyst estimates of $418.06 million. Ferro had a return on equity of 32.63% and a net margin of 4.34%. Ferro’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. On average, equities research analysts predict that Ferro Co. will post 1.59 earnings per share for the current fiscal year.

In other news, General Counsel Mark Hugo Duesenberg sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $22.49, for a total transaction of $247,390.00. Following the sale, the general counsel now owns 179,631 shares of the company’s stock, valued at $4,039,901.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.26% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Ferro by 8.1% during the 2nd quarter. BlackRock Inc. now owns 5,724,384 shares of the specialty chemicals company’s stock worth $119,353,000 after purchasing an additional 428,281 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Ferro by 28.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,240,552 shares of the specialty chemicals company’s stock worth $88,417,000 after purchasing an additional 942,354 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ferro by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,330,616 shares of the specialty chemicals company’s stock worth $69,443,000 after purchasing an additional 16,771 shares during the last quarter. Luminus Management LLC increased its position in shares of Ferro by 52.9% during the 2nd quarter. Luminus Management LLC now owns 2,663,037 shares of the specialty chemicals company’s stock worth $55,525,000 after purchasing an additional 921,179 shares during the last quarter. Finally, FMR LLC increased its position in shares of Ferro by 10.0% during the 2nd quarter. FMR LLC now owns 1,775,065 shares of the specialty chemicals company’s stock worth $37,010,000 after purchasing an additional 160,639 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

About Ferro (NYSE:FOE)

Ferro Corporation produces specialty materials in the United States and internationally. It operates through four business units: Tile Coating Systems; Porcelain Enamel; 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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