Sheets Smith Wealth Management Purchases New Position in Ferro Co. (FOE)

Sheets Smith Wealth Management purchased a new position in shares of Ferro Co. (NYSE:FOE) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 14,044 shares of the specialty chemicals company’s stock, valued at approximately $331,000.

Other institutional investors have also modified their holdings of the company. Amalgamated Bank increased its holdings in shares of Ferro by 5.5% during the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock worth $197,000 after buying an additional 564 shares during the last quarter. Intrust Bank NA acquired a new stake in shares of Ferro during the 3rd quarter worth $210,000. Principal Financial Group Inc. increased its holdings in shares of Ferro by 1.0% during the 2nd quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock worth $213,000 after buying an additional 120 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Ferro during the 3rd quarter worth $217,000. Finally, TIAA FSB acquired a new stake in shares of Ferro during the 2nd quarter worth $256,000. 97.26% of the stock is currently owned by institutional investors.

Shares of Ferro Co. (FOE) opened at $23.91 on Friday. Ferro Co. has a twelve month low of $13.55 and a twelve month high of $25.50. The stock has a market capitalization of $2,010.00, a price-to-earnings ratio of 45.98 and a beta of 1.94. 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 (NYSE:FOE) last announced its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. Ferro had a return on equity of 35.77% and a net margin of 3.44%. The firm had revenue of $350.01 million during the quarter, compared to the consensus estimate of $332.28 million. During the same period in the prior year, the firm earned $0.27 EPS. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. equities analysts anticipate that Ferro Co. will post 1.29 earnings per share for the current year.

A number of research firms have recently commented on FOE. Zacks Investment Research downgraded Ferro from a “buy” rating to a “hold” rating in a report on Wednesday. KeyCorp restated an “overweight” rating on shares of Ferro in a report on Friday, November 10th. Finally, ValuEngine downgraded Ferro from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $23.80.

In related news, CFO Benjamin Schlater sold 12,663 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $23.50, for a total value of $297,580.50. Following the completion of the sale, the chief financial officer now directly owns 6,495 shares in the company, valued at approximately $152,632.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ronald P. Vargo sold 12,000 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $24.13, for a total value of $289,560.00. Following the completion of the sale, the director now owns 43,450 shares of the company’s stock, valued at $1,048,448.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,428 shares of company stock valued at $4,192,872. 2.02% of the stock is owned by insiders.

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Ferro 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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