Keybank National Association OH purchased a new position in shares of Ferro Co. (NYSE:FOE) during the 1st quarter, Holdings Channel reports. The fund purchased 132,440 shares of the specialty chemicals company’s stock, valued at approximately $2,507,000.
A number of other institutional investors have also recently added to or reduced their stakes in FOE. JPMorgan Chase & Co. boosted its stake in Ferro by 11.2% during the 1st quarter. JPMorgan Chase & Co. now owns 2,270,676 shares of the specialty chemicals company’s stock valued at $42,985,000 after purchasing an additional 228,960 shares during the period. Mason Street Advisors LLC acquired a new position in Ferro during the 1st quarter valued at about $507,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Ferro during the 1st quarter valued at about $541,000. New York State Teachers Retirement System acquired a new position in Ferro during the 1st quarter valued at about $633,000. Finally, American International Group Inc. boosted its stake in Ferro by 14.8% during the 1st quarter. American International Group Inc. now owns 62,871 shares of the specialty chemicals company’s stock valued at $1,190,000 after purchasing an additional 8,093 shares during the period. 98.24% of the stock is currently owned by hedge funds and other institutional investors.
In other Ferro news, Director Allen A. Spizzo bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average cost of $15.33 per share, for a total transaction of $38,325.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $76,650. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Peter T. Thomas purchased 17,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were purchased at an average price of $15.92 per share, for a total transaction of $270,640.00. Following the acquisition, the chief executive officer now directly owns 677,956 shares of the company’s stock, valued at $10,793,059.52. The disclosure for this purchase can be found here. Insiders purchased a total of 24,500 shares of company stock worth $387,490 over the last quarter. Insiders own 2.71% of the company’s stock.
Shares of NYSE:FOE opened at $14.13 on Friday. The company has a market capitalization of $1.16 billion, a PE ratio of 9.42, a P/E/G ratio of 1.15 and a beta of 1.73. Ferro Co. has a twelve month low of $14.05 and a twelve month high of $23.88. The company has a quick ratio of 1.47, a current ratio of 2.55 and a debt-to-equity ratio of 2.34.
Ferro (NYSE:FOE) last issued its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Ferro had a net margin of 4.41% and a return on equity of 30.06%. The company had revenue of $387.50 million during the quarter, compared to analyst estimates of $396.60 million. During the same period in the prior year, the business posted $0.36 EPS. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts forecast that Ferro Co. will post 1.39 earnings per share for the current year.
FOE has been the subject of a number of analyst reports. ValuEngine raised shares of Ferro from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 29th. Zacks Investment Research lowered shares of Ferro from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. BMO Capital Markets lowered shares of Ferro from an “outperform” rating to a “market perform” rating and set a $18.83 target price for the company. in a research note on Monday, April 1st. Northcoast Research lowered shares of Ferro from a “buy” rating to a “neutral” rating in a research note on Monday, April 1st. Finally, KeyCorp reduced their price target on shares of Ferro from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Ferro has a consensus rating of “Hold” and an average price target of $20.17.
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Ferro Corporation produces specialty materials in the United States and internationally. It operates through three segments: Performance Coatings, Performance Colors and Glass, and Color Solutions. The company offers frits, porcelain and other glass enamels, glazes, stains, decorating colors, pigments, inks, polishing materials, dielectrics, electronic glasses, and other specialty coatings.
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