Ferro Corp. (NYSE:FOE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “FERRO CORP. is a worldwide producer of specialty materials for industry by organic and inorganic chemistry. It operates in 21 countries worldwide. Ferro produces a variety of specialty coatings, colors, ceramics, plastics, chemicals, and related products and services. Ferro’s most important product is frit produced for use in porcelain enamels and ceramic glazes. Ferro specialty materials require a high degree of technical service on an individual customer basis. “

A number of other research analysts have also recently weighed in on FOE. Deutsche Bank AG reaffirmed a “buy” rating on shares of Ferro Corp. in a research report on Tuesday, July 19th. TheStreet raised Ferro Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 8th.

Ferro Corp. (NYSE:FOE) traded down 1.50% during midday trading on Tuesday, reaching $13.15. The company’s stock had a trading volume of 398,329 shares. Ferro Corp. has a 52 week low of $8.47 and a 52 week high of $14.88. The stock has a market capitalization of $1.09 billion, a PE ratio of 20.42 and a beta of 1.89. The firm’s 50-day moving average price is $13.22 and its 200-day moving average price is $13.25.

Ferro Corp. (NYSE:FOE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.07. Ferro Corp. had a return on equity of 26.92% and a net margin of 4.96%. The firm had revenue of $297.97 million for the quarter, compared to analysts’ expectations of $304 million. During the same period in the previous year, the firm earned $0.20 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts anticipate that Ferro Corp. will post $1.05 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brigade Capital Management LP boosted its position in Ferro Corp. by 8.5% in the first quarter. Brigade Capital Management LP now owns 2,560,396 shares of the company’s stock worth $30,392,000 after buying an additional 200,000 shares in the last quarter. ClariVest Asset Management LLC boosted its position in Ferro Corp. by 15.5% in the second quarter. ClariVest Asset Management LLC now owns 194,105 shares of the company’s stock worth $2,598,000 after buying an additional 26,000 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Ferro Corp. during the second quarter worth approximately $153,000. Franklin Resources Inc. boosted its position in Ferro Corp. by 122.0% in the first quarter. Franklin Resources Inc. now owns 1,452,380 shares of the company’s stock worth $17,240,000 after buying an additional 798,270 shares in the last quarter. Finally, Balter Liquid Alternatives LLC boosted its position in Ferro Corp. by 61.6% in the second quarter. Balter Liquid Alternatives LLC now owns 147,380 shares of the company’s stock worth $1,972,000 after buying an additional 56,157 shares in the last quarter. 90.07% of the stock is currently owned by institutional investors.

About Ferro Corp.

Ferro Corporation (Ferro) produces performance materials for a range of manufacturers in diversified industries throughout the world. The Company uses inorganic and organic chemical processes, polymer science and materials science to develop and produce these performance materials. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides.

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