Schwab Charles Investment Management Inc. Has $9.19 Million Position in Ferro Corporation (FOE)
Schwab Charles Investment Management Inc. increased its holdings in Ferro Corporation (NYSE:FOE) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 502,605 shares of the specialty chemicals company’s stock after buying an additional 23,080 shares during the period. Schwab Charles Investment Management Inc. owned 0.60% of Ferro Corporation worth $9,193,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Ferro Corporation by 88.9% in the 1st quarter. Wellington Management Group LLP now owns 1,960,691 shares of the specialty chemicals company’s stock valued at $29,782,000 after buying an additional 922,893 shares in the last quarter. Scopus Asset Management L.P. raised its holdings in Ferro Corporation by 243.0% during the 1st quarter. Scopus Asset Management L.P. now owns 781,038 shares of the specialty chemicals company’s stock valued at $11,864,000 after acquiring an additional 553,338 shares during the period. Vanguard Group Inc. lifted its position in shares of Ferro Corporation by 5.1% during the first quarter. Vanguard Group Inc. now owns 6,703,134 shares of the specialty chemicals company’s stock worth $101,821,000 after acquiring an additional 324,188 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Ferro Corporation by 68,769.9% during the second quarter. Bank of Montreal Can now owns 240,356 shares of the specialty chemicals company’s stock worth $4,396,000 after acquiring an additional 240,007 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Ferro Corporation by 33.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 799,448 shares of the specialty chemicals company’s stock worth $12,144,000 after acquiring an additional 200,651 shares in the last quarter. 96.56% of the stock is owned by institutional investors.
A number of equities analysts have recently commented on FOE shares. Zacks Investment Research raised Ferro Corporation from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Wednesday, September 27th. KeyCorp reiterated a “buy” rating and issued a $23.00 price target on shares of Ferro Corporation in a research report on Friday, September 1st. Finally, Longbow Research reiterated a “buy” rating and set a $24.00 price objective (up from $22.00) on shares of Ferro Corporation in a research note on Wednesday, August 23rd. Six equities research analysts have rated the stock with a buy rating, Ferro Corporation currently has a consensus rating of “Buy” and a consensus target price of $22.40.
Ferro Corporation (FOE) opened at 22.66 on Wednesday. Ferro Corporation has a 52-week low of $12.46 and a 52-week high of $22.66. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 160.71 and a beta of 2.05. The stock has a 50 day moving average of $20.23 and a 200-day moving average of $18.11.
Ferro Corporation (NYSE:FOE) last released its quarterly earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.04. Ferro Corporation had a return on equity of 35.05% and a net margin of 1.06%. The business had revenue of $348.60 million during the quarter, compared to analyst estimates of $336.14 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. Ferro Corporation’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities research analysts anticipate that Ferro Corporation will post $1.27 earnings per share for the current fiscal year.
Ferro Corporation Company 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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