Strategic Wealth Advisors Group LLC bought a new position in Ferro Corporation (NYSE:FOE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 28,357 shares of the specialty chemicals company’s stock, valued at approximately $518,000.

Several other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Ferro Corporation by 1.0% in the 2nd quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock worth $213,000 after buying an additional 120 shares during the period. Highlander Capital Management LLC grew its position in Ferro Corporation by 0.4% during the 2nd quarter. Highlander Capital Management LLC now owns 56,200 shares of the specialty chemicals company’s stock valued at $1,028,000 after purchasing an additional 200 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Ferro Corporation by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,370 shares of the specialty chemicals company’s stock valued at $1,178,000 after purchasing an additional 519 shares during the last quarter. Amalgamated Bank grew its position in Ferro Corporation by 5.5% during the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after purchasing an additional 564 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in Ferro Corporation by 1.9% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 58,315 shares of the specialty chemicals company’s stock valued at $886,000 after purchasing an additional 1,064 shares during the last quarter. 96.56% of the stock is currently owned by hedge funds and other institutional investors.

Ferro Corporation (NYSE:FOE) last announced its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. Ferro Corporation had a return on equity of 35.05% and a net margin of 1.06%. The company had revenue of $348.60 million during the quarter, compared to analysts’ expectations of $336.14 million. During the same period last year, the business posted $0.34 EPS. Ferro Corporation’s revenue for the quarter was up 17.0% on a year-over-year basis.

Several analysts recently commented on FOE shares. BidaskClub raised shares of Ferro Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Ferro Corporation from a “sell” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Monday, July 31st. Deutsche Bank AG reaffirmed a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of Ferro Corporation in a report on Monday, July 31st. KeyCorp reaffirmed a “buy” rating and set a $23.00 price target on shares of Ferro Corporation in a 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 report on Wednesday, August 23rd. Six research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $23.20.

COPYRIGHT VIOLATION WARNING: This news story was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/10/13/strategic-wealth-advisors-group-llc-buys-shares-of-28357-ferro-corporation-foe.html.

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.

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.