California Public Employees Retirement System Increases Stake in Ferro Co. (FOE)

California Public Employees Retirement System grew its stake in shares of Ferro Co. (NYSE:FOE) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 191,450 shares of the specialty chemicals company’s stock after purchasing an additional 7,250 shares during the period. California Public Employees Retirement System’s holdings in Ferro were worth $4,269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FOE. JPMorgan Chase & Co. boosted its stake in shares of Ferro by 2,372.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,512,327 shares of the specialty chemicals company’s stock valued at $27,661,000 after purchasing an additional 1,451,149 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Ferro by 78.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,561,811 shares of the specialty chemicals company’s stock valued at $57,128,000 after purchasing an additional 1,124,721 shares in the last quarter. Paradice Investment Management LLC boosted its stake in shares of Ferro by 46.4% during the 3rd quarter. Paradice Investment Management LLC now owns 3,318,174 shares of the specialty chemicals company’s stock valued at $43,667,000 after purchasing an additional 1,051,915 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Ferro during the 3rd quarter valued at about $16,262,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Ferro by 193.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 465,098 shares of the specialty chemicals company’s stock valued at $8,506,000 after purchasing an additional 306,607 shares in the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ferro Co. (FOE) opened at $24.13 on Thursday. 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. The company has a market cap of $2,020.00, a PE ratio of 46.40 and a beta of 1.94.

Ferro (NYSE:FOE) last posted its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. Ferro had a net margin of 3.44% and a return on equity of 35.77%. The business had revenue of $350.01 million for the quarter, compared to analyst estimates of $332.28 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Ferro’s quarterly revenue was up 21.3% on a year-over-year basis. analysts expect that Ferro Co. will post 1.29 EPS for the current fiscal year.

FOE has been the topic of a number of research reports. Zacks Investment Research lowered shares of Ferro from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. ValuEngine lowered shares of Ferro from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, KeyCorp reissued an “overweight” rating and set a $27.00 price objective (up previously from $23.00) on shares of Ferro in a research note on Friday, October 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $23.80.

In related news, Chairman Peter T. Thomas sold 73,583 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $23.51, for a total transaction of $1,729,936.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Peter T. Thomas sold 22,182 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $22.83, for a total transaction of $506,415.06. Following the sale, 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. Insiders have sold 177,428 shares of company stock worth $4,192,872 in the last three months. 2.02% of the stock is currently owned by insiders.

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Ferro Company Profile

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.

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Institutional Ownership by Quarter for Ferro (NYSE:FOE)

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