Nicholas Investment Partners LP lowered its holdings in shares of Ferro Corporation (NYSE:FOE) by 0.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 262,029 shares of the specialty chemicals company’s stock after selling 739 shares during the period. Nicholas Investment Partners LP owned about 0.31% of Ferro Corporation worth $4,794,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in FOE. Wells Fargo & Company MN raised its stake in shares of Ferro Corporation by 9.2% during the first quarter. Wells Fargo & Company MN now owns 275,068 shares of the specialty chemicals company’s stock valued at $4,178,000 after acquiring an additional 23,095 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Ferro Corporation by 36.2% during the first quarter. First Trust Advisors LP now owns 71,804 shares of the specialty chemicals company’s stock valued at $1,091,000 after acquiring an additional 19,079 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Ferro Corporation by 50.7% during the first quarter. UBS Asset Management Americas Inc. now owns 23,497 shares of the specialty chemicals company’s stock valued at $357,000 after acquiring an additional 7,900 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Ferro Corporation by 6.1% during the first quarter. Parametric Portfolio Associates LLC now owns 104,464 shares of the specialty chemicals company’s stock valued at $1,587,000 after acquiring an additional 5,996 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in shares of Ferro Corporation during the first quarter valued at $1,694,000. 96.56% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/19/nicholas-investment-partners-lp-has-4-79-million-stake-in-ferro-corporation-foe.html.

Several research firms have recently issued reports on FOE. Zacks Investment Research raised shares of Ferro Corporation 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. BidaskClub raised shares of Ferro Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. KeyCorp reaffirmed a “buy” rating and set a $23.00 price target on shares of Ferro Corporation in a research note on Friday, September 1st. Finally, Longbow Research reaffirmed a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of Ferro Corporation in a research note on Wednesday, August 23rd. Six analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $22.20.

Ferro Corporation (FOE) traded up 0.05% during midday trading on Tuesday, hitting $20.97. 123,636 shares of the stock traded hands. Ferro Corporation has a 52 week low of $12.35 and a 52 week high of $21.15. The stock’s 50-day moving average price is $19.41 and its 200 day moving average price is $17.49. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 148.72 and a beta of 2.02.

Ferro Corporation (NYSE:FOE) last announced its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.04. The firm had revenue of $348.60 million during the quarter, compared to analyst estimates of $336.14 million. Ferro Corporation had a net margin of 1.06% and a return on equity of 35.05%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 EPS. On average, equities research analysts predict that Ferro Corporation will post $1.27 EPS for the current year.

Ferro Corporation Profile

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.

Institutional Ownership by Quarter for Ferro Corporation (NYSE:FOE)

Receive News & Stock Ratings for Ferro Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferro Corporation and related stocks with our FREE daily email newsletter.