Ferro (NYSE:FOE) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other analysts have also recently weighed in on FOE. Zacks Investment Research cut shares of Ferro from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. BidaskClub upgraded shares of Ferro from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Longbow Research restated a “buy” rating and set a $24.00 target price (up previously from $22.00) on shares of Ferro in a report on Wednesday, August 23rd. Finally, KeyCorp restated an “overweight” rating and set a $27.00 target price (up previously from $23.00) on shares of Ferro in a report on Friday, October 13th. Seven research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $23.60.

Shares of Ferro (NYSE FOE) traded down $0.30 during trading on Friday, hitting $25.05. 634,987 shares of the stock traded hands, compared to its average volume of 598,843. 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 has a 1 year low of $13.55 and a 1 year high of $25.50. The company has a market capitalization of $2,100.62, a PE ratio of 19.57 and a beta of 1.91.

Ferro (NYSE:FOE) last released its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $350.01 million for the quarter, compared to analysts’ expectations of $332.28 million. Ferro had a net margin of 3.44% and a return on equity of 35.77%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. analysts forecast that Ferro will post 1.29 earnings per share for the current year.

In other news, CEO Peter T. Thomas sold 22,182 shares of Ferro stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $22.83, for a total value 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 the SEC website. Also, Director Marran H. Ogilvie purchased 2,000 shares of the stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $23.60 per share, with a total value of $47,200.00. The disclosure for this purchase can be found here. 2.02% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Algert Global LLC purchased a new position in shares of Ferro in the 3rd quarter worth about $2,233,000. Insight Capital Research & Management Inc. purchased a new position in Ferro in the 3rd quarter worth about $1,438,000. Neuberger Berman Group LLC purchased a new position in Ferro in the 3rd quarter worth about $401,000. Argent Capital Management LLC raised its position in Ferro by 8.8% in the 3rd quarter. Argent Capital Management LLC now owns 188,405 shares of the specialty chemicals company’s stock worth $4,201,000 after buying an additional 15,310 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Ferro by 3.9% in the 3rd quarter. California Public Employees Retirement System now owns 191,450 shares of the specialty chemicals company’s stock worth $4,269,000 after buying an additional 7,250 shares during the last quarter. 98.12% of the stock is owned by hedge funds and other institutional investors.

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About Ferro

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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