Macquarie Group Ltd. Invests $515,000 in Ferro Co. (FOE)

Macquarie Group Ltd. acquired a new stake in Ferro Co. (NYSE:FOE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 23,100 shares of the specialty chemicals company’s stock, valued at approximately $515,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Intrust Bank NA purchased a new position in shares of Ferro in the 3rd quarter valued at about $210,000. Prudential Financial Inc. purchased a new position in shares of Ferro in the 3rd quarter valued at about $217,000. Amalgamated Bank boosted its stake in shares of Ferro by 5.5% in the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after buying an additional 564 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Ferro by 1.0% in the 2nd quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock valued at $213,000 after buying an additional 120 shares during the period. Finally, Airain ltd purchased a new position in shares of Ferro in the 2nd quarter valued at about $214,000. Institutional investors and hedge funds own 97.85% of the company’s stock.

Several equities research analysts recently weighed in on the company. ValuEngine cut Ferro from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. KeyCorp restated an “overweight” rating on shares of Ferro in a research note on Friday, November 10th. Finally, Zacks Investment Research upgraded Ferro from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Friday, October 13th. Seven research analysts have rated the stock with a buy rating, Ferro has a consensus rating of “Buy” and a consensus target price of $23.60.

In other Ferro news, CFO Benjamin Schlater sold 12,663 shares of Ferro stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $23.50, for a total transaction of $297,580.50. Following the transaction, the chief financial officer now owns 6,495 shares of the company’s stock, valued at $152,632.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Peter T. Thomas sold 22,182 shares of Ferro stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $22.83, for a total value of $506,415.06. Following the transaction, the chief executive officer now directly owns 374,158 shares in the company, valued at approximately $8,542,027.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,845 shares of company stock valued at $1,373,996. 2.02% of the stock is owned by company insiders.

Shares of Ferro Co. (FOE) opened at $23.33 on Friday. The firm has a market capitalization of $1,962.26, a P/E ratio of 18.28 and a beta of 1.90. Ferro Co. has a 52 week low of $13.55 and a 52 week high of $25.50. 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 (NYSE:FOE) last posted its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm had revenue of $350.01 million during the quarter, compared to analysts’ expectations of $332.28 million. Ferro had a return on equity of 35.77% and a net margin of 3.44%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. analysts forecast that Ferro Co. will post 1.29 EPS for the current year.

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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 (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.

Institutional Ownership by Quarter for Ferro (NYSE:FOE)

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