ValuEngine downgraded shares of Ferro (NYSE:FOE) from a sell rating to a strong sell rating in a research report report published on Wednesday morning.
A number of other brokerages have also commented on FOE. Zacks Investment Research raised Ferro from a sell rating to a hold rating in a research note on Tuesday, July 31st. Gabelli reaffirmed a buy rating on shares of Ferro in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Ferro presently has a consensus rating of Buy and an average price target of $27.00.
Shares of Ferro stock traded down $0.14 on Wednesday, hitting $16.11. The stock had a trading volume of 668,277 shares, compared to its average volume of 825,526. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.56 and a current ratio of 2.67. Ferro has a one year low of $15.62 and a one year high of $25.50. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.65 and a beta of 1.70.
In other Ferro news, General Counsel Mark Hugo Duesenberg sold 11,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $22.49, for a total transaction of $247,390.00. Following the completion of the transaction, the general counsel now owns 179,631 shares of the company’s stock, valued at $4,039,901.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.02% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Ferro by 8.1% in the 2nd quarter. BlackRock Inc. now owns 5,724,384 shares of the specialty chemicals company’s stock worth $119,353,000 after purchasing an additional 428,281 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Ferro by 28.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,240,552 shares of the specialty chemicals company’s stock worth $88,417,000 after purchasing an additional 942,354 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ferro by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,330,616 shares of the specialty chemicals company’s stock worth $69,443,000 after purchasing an additional 16,771 shares during the last quarter. Luminus Management LLC raised its position in shares of Ferro by 52.9% in the 2nd quarter. Luminus Management LLC now owns 2,663,037 shares of the specialty chemicals company’s stock worth $55,525,000 after purchasing an additional 921,179 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Ferro by 42.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,216,520 shares of the specialty chemicals company’s stock worth $51,468,000 after purchasing an additional 655,644 shares during the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.
Ferro Corporation produces specialty materials in the United States and internationally. It operates through four business units: Tile Coating Systems; Porcelain Enamel; Performance Colors and Glass; and Color Solutions. The company offers frits, porcelain and other glass enamels, glazes, stains, decorating colors, pigments, inks, polishing materials, dielectrics, electronic glasses, and other specialty coatings.
Further Reading: Initial Public Offering (IPO)
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