Marran H. Ogilvie Purchases 2,000 Shares of Ferro Corporation (FOE) Stock
Ferro Corporation (NYSE:FOE) Director Marran H. Ogilvie acquired 2,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were acquired at an average price of $23.60 per share, for a total transaction of $47,200.00. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.
Ferro Corporation (NYSE FOE) traded down $0.39 during trading hours on Wednesday, hitting $23.24. The stock had a trading volume of 625,700 shares, compared to its average volume of 516,505. The company has a market cap of $1,981.55, a PE ratio of 18.46 and a beta of 1.90. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.48 and a quick ratio of 1.53. Ferro Corporation has a fifty-two week low of $13.55 and a fifty-two week high of $24.84.
Ferro Corporation (NYSE:FOE) last released its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $350.01 million for the quarter, compared to analysts’ expectations of $332.28 million. Ferro Corporation had a return on equity of 35.77% and a net margin of 3.44%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. equities analysts anticipate that Ferro Corporation will post 1.29 earnings per share for the current year.
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Several research firms have recently weighed in on FOE. Zacks Investment Research upgraded Ferro Corporation from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, September 5th. KeyCorp reiterated a “buy” rating and set a $23.00 price objective on shares of Ferro Corporation in a report on Friday, September 1st. Longbow Research reiterated a “buy” rating and set a $24.00 price objective (up previously from $22.00) on shares of Ferro Corporation in a report on Wednesday, August 23rd. Finally, BidaskClub cut Ferro Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Six investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $23.60.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Insight Capital Research & Management Inc. bought a new stake in Ferro Corporation in the 3rd quarter valued at approximately $1,438,000. Neuberger Berman Group LLC bought a new stake in Ferro Corporation in the 3rd quarter valued at approximately $401,000. Argent Capital Management LLC lifted its stake in Ferro Corporation by 8.8% in the 3rd quarter. Argent Capital Management LLC now owns 188,405 shares of the specialty chemicals company’s stock valued at $4,201,000 after acquiring an additional 15,310 shares in the last quarter. California Public Employees Retirement System lifted its stake in Ferro Corporation by 3.9% in the 3rd quarter. California Public Employees Retirement System now owns 191,450 shares of the specialty chemicals company’s stock valued at $4,269,000 after acquiring an additional 7,250 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Ferro Corporation by 79.8% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 28,987 shares of the specialty chemicals company’s stock valued at $646,000 after acquiring an additional 12,862 shares in the last quarter. Hedge funds and other institutional investors own 97.57% of the company’s stock.
About Ferro Corporation
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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