Gamco Investors INC. ET AL Cuts Holdings in Ferro Co. (FOE)

Gamco Investors INC. ET AL lessened its stake in Ferro Co. (NYSE:FOE) by 9.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,811,673 shares of the specialty chemicals company’s stock after selling 517,705 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.06% of Ferro worth $113,507,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Ferro by 4.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,581,662 shares of the specialty chemicals company’s stock worth $35,112,000 after buying an additional 69,335 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Ferro by 14.4% in the 2nd quarter. Royal Bank of Canada now owns 1,094,643 shares of the specialty chemicals company’s stock valued at $20,021,000 after purchasing an additional 138,061 shares in the last quarter. Insight Capital Research & Management Inc. purchased a new stake in shares of Ferro in the 3rd quarter valued at $1,438,000. Algert Global LLC purchased a new stake in shares of Ferro in the 3rd quarter valued at $2,233,000. Finally, Wasatch Advisors Inc. boosted its stake in shares of Ferro by 16.2% in the 3rd quarter. Wasatch Advisors Inc. now owns 133,648 shares of the specialty chemicals company’s stock valued at $2,980,000 after purchasing an additional 18,648 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

In related news, Director Ronald P. Vargo sold 12,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $24.13, for a total transaction of $289,560.00. Following the completion of the sale, the director now directly owns 43,450 shares in the company, valued at approximately $1,048,448.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marran H. Ogilvie purchased 2,000 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average price of $23.60 per share, with a total value of $47,200.00. The disclosure for this purchase can be found here. Insiders sold a total of 177,428 shares of company stock valued at $4,192,872 in the last ninety days. 2.02% of the stock is owned by corporate insiders.

Shares of Ferro Co. (NYSE:FOE) opened at $22.59 on Friday. Ferro Co. has a 12 month low of $13.55 and a 12 month high of $25.50. The stock has a market cap of $1,894.33, a price-to-earnings ratio of 42.62 and a beta of 1.72. The company has a quick ratio of 1.53, a current ratio of 2.48 and a debt-to-equity ratio of 1.94.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Ferro from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, January 11th. KeyCorp reaffirmed an “overweight” rating on shares of Ferro in a research note on Friday, November 10th. Finally, ValuEngine raised shares of Ferro from a “hold” rating to a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Ferro currently has an average rating of “Buy” and a consensus price target of $23.80.

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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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