Gabelli Funds LLC trimmed its position in shares of Ferro Corporation (NYSE:FOE) by 1.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,859,000 shares of the specialty chemicals company’s stock after selling 54,000 shares during the quarter. Gabelli Funds LLC owned 4.61% of Ferro Corporation worth $86,056,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Nuveen Asset Management LLC acquired a new position in shares of Ferro Corporation during the first quarter worth approximately $2,838,000. Mutual of America Capital Management LLC raised its position in shares of Ferro Corporation by 5.2% during the second quarter. Mutual of America Capital Management LLC now owns 553,847 shares of the specialty chemicals company’s stock worth $10,130,000 after purchasing an additional 27,340 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Ferro Corporation by 3,040.9% during the second quarter. BNP Paribas Arbitrage SA now owns 91,148 shares of the specialty chemicals company’s stock worth $1,667,000 after purchasing an additional 88,246 shares during the period. Kennedy Capital Management Inc. raised its position in shares of Ferro Corporation by 15.1% during the second quarter. Kennedy Capital Management Inc. now owns 1,348,104 shares of the specialty chemicals company’s stock worth $24,657,000 after purchasing an additional 176,443 shares during the period. Finally, Paradice Investment Management LLC raised its position in shares of Ferro Corporation by 124.5% during the second quarter. Paradice Investment Management LLC now owns 2,266,259 shares of the specialty chemicals company’s stock worth $27,082,000 after purchasing an additional 1,256,703 shares during the period. 98.82% of the stock is currently owned by institutional investors.
Ferro Corporation (NYSE:FOE) traded down $0.28 during midday trading on Monday, reaching $24.13. The company had a trading volume of 270,678 shares, compared to its average volume of 588,719. The stock has a market cap of $2,046.96, a price-to-earnings ratio of 19.07 and a beta of 1.90. Ferro Corporation has a twelve month low of $12.59 and a twelve month high of $24.84. 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 released its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $350.01 million during the quarter, compared to analyst estimates of $332.28 million. Ferro Corporation had a return on equity of 35.77% and a net margin of 3.44%. Ferro Corporation’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. research analysts anticipate that Ferro Corporation will post 1.29 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Ferro Corporation from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Friday, October 13th. KeyCorp reaffirmed an “overweight” rating and set a $27.00 target price (up from $23.00) on shares of Ferro Corporation in a research report on Friday, October 13th. Six investment analysts have rated the stock with a buy rating, Ferro Corporation currently has a consensus rating of “Buy” and a consensus price target of $23.60.
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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