Voya Investment Management LLC lifted its holdings in Ferro Corporation (NYSE:FOE) by 17.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,728 shares of the specialty chemicals company’s stock after acquiring an additional 5,485 shares during the quarter. Voya Investment Management LLC’s holdings in Ferro Corporation were worth $690,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Amalgamated Bank increased its stake in shares of Ferro Corporation by 5.5% in the second quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock worth $197,000 after acquiring an additional 564 shares during the period. Principal Financial Group Inc. increased its stake in shares of Ferro Corporation by 1.0% in the second quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock worth $213,000 after acquiring an additional 120 shares during the period. Airain ltd acquired a new stake in shares of Ferro Corporation in the second quarter worth $214,000. KCG Holdings Inc. acquired a new stake in shares of Ferro Corporation in the first quarter worth $181,000. Finally, Bowling Portfolio Management LLC acquired a new stake in shares of Ferro Corporation in the second quarter worth $236,000. Hedge funds and other institutional investors own 96.66% of the company’s stock.
A number of analysts have 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 on the stock in a research note on Tuesday, September 5th. BidaskClub upgraded shares of Ferro Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. KeyCorp reiterated a “buy” rating and issued a $23.00 price objective on shares of Ferro Corporation in a research note on Friday, September 1st. Finally, Longbow Research reiterated a “buy” rating and issued a $24.00 price objective (up previously from $22.00) on shares of Ferro Corporation in a research note on Wednesday, August 23rd. Six investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $23.60.
Ferro Corporation (NYSE:FOE) last released its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. Ferro Corporation had a net margin of 1.06% and a return on equity of 35.05%. The firm had revenue of $350.01 million during the quarter, compared to the consensus estimate of $332.28 million. During the same quarter in the prior year, the firm earned $0.27 EPS. Ferro Corporation’s revenue for the quarter was up 21.3% on a year-over-year basis.
Ferro Corporation Company Profile
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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