Citadel Advisors LLC Has $611,000 Holdings in Ferro Corporation (FOE)
Citadel Advisors LLC decreased its stake in Ferro Corporation (NYSE:FOE) by 77.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,393 shares of the specialty chemicals company’s stock after selling 111,495 shares during the quarter. Citadel Advisors LLC’s holdings in Ferro Corporation were worth $611,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in FOE. Wells Fargo & Company MN lifted its stake in Ferro Corporation by 9.2% in 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 buying an additional 23,095 shares during the period. First Trust Advisors LP raised its position 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 worth $1,091,000 after purchasing an additional 19,079 shares during the period. UBS Asset Management Americas Inc. raised its position 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 worth $357,000 after purchasing an additional 7,900 shares during the period. Parametric Portfolio Associates LLC raised its position 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 worth $1,587,000 after purchasing an additional 5,996 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Ferro Corporation during the first quarter worth about $109,000. 96.56% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Ferro Corporation (NYSE FOE) opened at 22.52 on Friday. The stock’s 50 day moving average price is $20.55 and its 200-day moving average price is $18.24. Ferro Corporation has a 52-week low of $12.46 and a 52-week high of $22.70. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 159.72 and a beta of 2.05.
Ferro Corporation (NYSE:FOE) last announced its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $348.60 million for the quarter, compared to the consensus estimate of $336.14 million. Ferro Corporation had a return on equity of 35.05% and a net margin of 1.06%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. On average, analysts forecast that Ferro Corporation will post $1.27 EPS for the current year.
A number of research firms have recently commented on FOE. Zacks Investment Research raised Ferro Corporation from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, September 27th. KeyCorp reaffirmed a “buy” rating and set a $23.00 price target on shares of Ferro Corporation in a research report 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 report on Wednesday, August 23rd. Six analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $22.40.
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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