Gamco Investors INC. ET AL lowered its stake in Ferro Corporation (NYSE:FOE) by 8.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,329,378 shares of the specialty chemicals company’s stock after selling 503,162 shares during the period. Gamco Investors INC. ET AL owned approximately 6.37% of Ferro Corporation worth $118,845,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen Asset Management LLC acquired a new position in Ferro Corporation in the 1st quarter valued at about $2,838,000. Mutual of America Capital Management LLC grew its stake in Ferro Corporation by 5.2% in the 2nd quarter. Mutual of America Capital Management LLC now owns 553,847 shares of the specialty chemicals company’s stock valued at $10,130,000 after buying an additional 27,340 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Ferro Corporation by 3,040.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 91,148 shares of the specialty chemicals company’s stock valued at $1,667,000 after buying an additional 88,246 shares during the last quarter. Kennedy Capital Management Inc. grew its stake in Ferro Corporation by 15.1% in the 2nd quarter. Kennedy Capital Management Inc. now owns 1,348,104 shares of the specialty chemicals company’s stock valued at $24,657,000 after buying an additional 176,443 shares during the last quarter. Finally, Paradice Investment Management LLC grew its stake in Ferro Corporation by 124.5% in the 2nd quarter. Paradice Investment Management LLC now owns 2,266,259 shares of the specialty chemicals company’s stock valued at $27,082,000 after buying an additional 1,256,703 shares during the last quarter. Institutional investors and hedge funds own 98.82% of the company’s stock.
Shares of Ferro Corporation (FOE) traded down $0.28 during trading hours on Monday, hitting $24.13. 270,678 shares of the company’s stock were exchanged, compared to its average volume of 588,719. Ferro Corporation has a 1 year low of $12.59 and a 1 year high of $24.84. The firm has a market cap of $2,046.96, a price-to-earnings ratio of 19.07 and a beta of 1.90. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.53 and a current ratio of 2.48.
Ferro Corporation (NYSE:FOE) last announced its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $350.01 million for the quarter, compared to analyst estimates of $332.28 million. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. analysts forecast that Ferro Corporation will post 1.29 earnings per share for the current fiscal year.
A number of research analysts recently commented 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 target 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 report on Wednesday, July 12th. KeyCorp restated a “buy” rating and set a $23.00 target price on shares of Ferro Corporation in a research report on Friday, September 1st. Finally, Longbow Research restated a “buy” rating and set a $24.00 target price (up previously from $22.00) on shares of Ferro Corporation in a research report on Wednesday, August 23rd. Six analysts have rated the stock with a buy rating, Ferro Corporation has a consensus rating of “Buy” and a consensus target price of $23.60.
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Ferro Corporation 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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