Ferro Corp. (FOE) Stock Price Down 12.4%
Ferro Corp. (NYSE:FOE) dropped 12.4% during trading on Monday . The company traded as low as $11.80 and last traded at $12.50, with a volume of 2,543,445 shares. The stock had previously closed at $14.27.
FOE has been the subject of a number of research reports. Deutsche Bank AG restated a “buy” rating on shares of Ferro Corp. in a report on Tuesday. Zacks Investment Research upgraded shares of Ferro Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, July 12th.
The stock’s 50-day moving average price is $13.88 and its 200 day moving average price is $11.86. The firm has a market capitalization of $1.05 billion and a PE ratio of 25.69.
Ferro Corp. (NYSE:FOE) last announced its quarterly earnings data on Tuesday, April 26th. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The business earned $277.45 million during the quarter, compared to the consensus estimate of $281.70 million. The company’s revenue was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Ferro Corp. will post $0.97 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Jennison Associates LLC raised its stake in Ferro Corp. by 36.6% in the fourth quarter. Jennison Associates LLC now owns 3,462,269 shares of the company’s stock worth $38,500,000 after buying an additional 928,019 shares in the last quarter. Marshall Wace LLP raised its stake in Ferro Corp. by 555.2% in the fourth quarter. Marshall Wace LLP now owns 758,047 shares of the company’s stock worth $8,429,000 after buying an additional 642,343 shares in the last quarter. Pear Tree Advisors Inc. purchased a new stake in Ferro Corp. during the fourth quarter worth approximately $2,091,000. Mutual of America Capital Management LLC raised its stake in Ferro Corp. by 46.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 352,265 shares of the company’s stock worth $3,917,000 after buying an additional 112,265 shares in the last quarter. Finally, Royce & Associates LLC raised its stake in Ferro Corp. by 7.7% in the fourth quarter. Royce & Associates LLC now owns 1,481,470 shares of the company’s stock worth $16,474,000 after buying an additional 106,500 shares in the last quarter.
Ferro Corporation (Ferro) produces performance materials for a range of manufacturers in diversified industries throughout the world. The Company uses inorganic and organic chemical processes, polymer science and materials science to develop and produce these performance materials. It operates, approximately 33 facilities around the world that manufacture performance materials and performance chemicals.
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