Broadview Advisors LLC Has $12.67 Million Stake in Ferro Corporation (FOE)
Broadview Advisors LLC lifted its position in shares of Ferro Corporation (NYSE:FOE) by 22.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 692,828 shares of the specialty chemicals company’s stock after acquiring an additional 128,900 shares during the quarter. Ferro Corporation accounts for approximately 1.9% of Broadview Advisors LLC’s portfolio, making the stock its 12th largest holding. Broadview Advisors LLC owned about 0.83% of Ferro Corporation worth $12,672,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of FOE. Wells Fargo & Company MN raised its holdings in 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 worth $4,178,000 after purchasing an additional 23,095 shares in the last quarter. First Trust Advisors LP lifted its position in Ferro Corporation by 36.2% in 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 purchasing an additional 19,079 shares during the period. UBS Asset Management Americas Inc. lifted its position in Ferro Corporation by 50.7% in 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 purchasing an additional 7,900 shares during the period. Parametric Portfolio Associates LLC lifted its position in Ferro Corporation by 6.1% in 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 purchasing an additional 5,996 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in Ferro Corporation in the first quarter valued at about $109,000. Institutional investors and hedge funds own 96.56% of the company’s stock.
Ferro Corporation (NYSE FOE) traded down 1.085% during trading on Tuesday, hitting $22.335. 251,874 shares of the stock were exchanged. The stock’s 50 day moving average is $20.13 and its 200-day moving average is $18.05. Ferro Corporation has a one year low of $12.46 and a one year high of $22.60. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 158.404 and a beta of 2.04.
Ferro Corporation (NYSE:FOE) last posted its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.04. The business had revenue of $348.60 million during the quarter, compared to the consensus estimate of $336.14 million. Ferro Corporation had a net margin of 1.06% and a return on equity of 35.05%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 earnings per share. On average, equities research analysts expect that Ferro Corporation will post $1.27 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the company. Longbow Research raised Ferro Corporation from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Monday, June 5th. BidaskClub cut Ferro Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Zacks Investment Research downgraded Ferro Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $22.00 target price (up from $20.00) on shares of Ferro Corporation in a research note on Monday, July 31st. Six investment analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $22.40.
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.
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