Insider Selling: Ferro Corporation (FOE) CEO Sells $506,415.06 in Stock
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.
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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