According to Zacks, “FERRO CORP. is a worldwide producer of specialty materials for industry by organic and inorganic chemistry. It operates in 21 countries worldwide. Ferro produces a variety of specialty coatings, colors, ceramics, plastics, chemicals, and related products and services. Ferro’s most important product is frit produced for use in porcelain enamels and ceramic glazes. Ferro specialty materials require a high degree of technical service on an individual customer basis. “
A number of other brokerages also recently issued reports on FOE. ValuEngine raised Ferro from a “sell” rating to a “hold” rating in a research note on Monday, November 25th. BMO Capital Markets lowered their price target on shares of Ferro to $15.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Buckingham Research dropped their price objective on shares of Ferro from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, September 10th. Finally, Wells Fargo & Co assumed coverage on shares of Ferro in a research report on Tuesday, October 15th. They set a “market perform” rating and a $12.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $16.83.
Ferro (NYSE:FOE) last released its quarterly earnings data on Monday, November 11th. The specialty chemicals company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.06. The company had revenue of $365.73 million for the quarter, compared to analyst estimates of $371.34 million. Ferro had a return on equity of 27.03% and a net margin of 3.13%. As a group, sell-side analysts forecast that Ferro will post 1.18 EPS for the current year.
In related news, General Counsel Mark Hugo Duesenberg sold 35,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $10.69, for a total value of $374,150.00. Following the completion of the transaction, the general counsel now directly owns 232,863 shares in the company, valued at $2,489,305.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.71% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its position in Ferro by 68.9% in the third quarter. Public Employees Retirement System of Ohio now owns 2,687 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,096 shares during the period. Quantamental Technologies LLC increased its position in shares of Ferro by 22.3% during the 2nd quarter. Quantamental Technologies LLC now owns 8,500 shares of the specialty chemicals company’s stock worth $134,000 after purchasing an additional 1,550 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of Ferro during the 3rd quarter worth about $139,000. SG Americas Securities LLC purchased a new stake in Ferro in the 3rd quarter valued at about $225,000. Finally, Jane Street Group LLC raised its holdings in Ferro by 7.5% in the 2nd quarter. Jane Street Group LLC now owns 14,349 shares of the specialty chemicals company’s stock valued at $227,000 after buying an additional 1,001 shares during the period. 98.59% of the stock is owned by institutional investors.
Ferro Company Profile
Ferro Corporation produces specialty materials in the United States and internationally. It operates through three segments: Performance Coatings, 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.
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