Ferro Corporation (NYSE:FOE) CEO Peter T. Thomas sold 22,182 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $22.83, for a total transaction of $506,415.06. Following the completion of the transaction, the chief executive officer now owns 374,158 shares of the company’s stock, valued at approximately $8,542,027.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ferro Corporation (FOE) opened at $23.91 on Friday. Ferro Corporation has a fifty-two week low of $13.55 and a fifty-two week high of $24.84. The stock has a market cap of $2,005.02, a price-to-earnings ratio of 18.68 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 (NYSE:FOE) last announced its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. Ferro Corporation had a net margin of 3.44% and a return on equity of 35.77%. The company had revenue of $350.01 million during the quarter, compared to analyst estimates of $332.28 million. During the same quarter in the previous year, the business earned $0.27 EPS. The firm’s revenue was up 21.3% on a year-over-year basis. sell-side analysts expect that Ferro Corporation will post 1.29 earnings per share for the current fiscal year.

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Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Ferro Corporation from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Tuesday, September 5th. KeyCorp reaffirmed a “buy” rating and set a $23.00 target price on shares of Ferro Corporation in a report on Friday, September 1st. Longbow Research reaffirmed a “buy” rating and set a $24.00 target price (up previously from $22.00) on shares of Ferro Corporation in a report on Wednesday, August 23rd. Finally, BidaskClub lowered shares of 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 stock has an average rating of “Buy” and a consensus target price of $23.60.

Several hedge funds have recently made changes to their positions in FOE. Intrust Bank NA bought a new stake in Ferro Corporation in the 3rd quarter valued at $210,000. Prudential Financial Inc. bought a new stake in Ferro Corporation in the 3rd quarter valued at $217,000. Amalgamated Bank lifted its position in Ferro Corporation by 5.5% in the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after acquiring an additional 564 shares in the last quarter. Principal Financial Group Inc. lifted its position in 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 valued at $213,000 after acquiring an additional 120 shares in the last quarter. Finally, Airain ltd bought a new stake in Ferro Corporation in the 2nd quarter valued at $214,000. 97.57% of the stock is owned by institutional investors.

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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