Zacks Investment Research downgraded shares of Ferro Corp. (NYSE:FOE) from a buy rating to a hold rating in a report published on Tuesday morning.

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. “

Separately, TheStreet upgraded shares of Ferro Corp. from a hold rating to a buy rating in a research note on Monday, August 8th.

Shares of Ferro Corp. (NYSE:FOE) opened at 14.60 on Tuesday. Ferro Corp. has a 1-year low of $8.47 and a 1-year high of $15.35. The stock has a market capitalization of $1.22 billion, a P/E ratio of 24.58 and a beta of 2.20. The stock has a 50 day moving average of $13.81 and a 200-day moving average of $13.56.

Ferro Corp. (NYSE:FOE) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. Ferro Corp. had a net margin of 4.49% and a return on equity of 27.35%. The company earned $288.53 million during the quarter, compared to the consensus estimate of $284.08 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts predict that Ferro Corp. will post $1.04 earnings per share for the current fiscal year.

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A number of large investors have recently modified their holdings of FOE. ClariVest Asset Management LLC boosted its stake in shares of Ferro Corp. by 15.5% in the second quarter. ClariVest Asset Management LLC now owns 194,105 shares of the company’s stock valued at $2,598,000 after buying an additional 26,000 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Ferro Corp. during the second quarter valued at approximately $153,000. Balter Liquid Alternatives LLC boosted its stake in shares of Ferro Corp. by 61.6% in the second quarter. Balter Liquid Alternatives LLC now owns 147,380 shares of the company’s stock valued at $1,972,000 after buying an additional 56,157 shares during the period. Paradice Investment Management LLC boosted its stake in shares of Ferro Corp. by 88.2% in the second quarter. Paradice Investment Management LLC now owns 691,794 shares of the company’s stock valued at $9,256,000 after buying an additional 324,150 shares during the period. Finally, Highlander Capital Management LLC boosted its stake in shares of Ferro Corp. by 6.9% in the second quarter. Highlander Capital Management LLC now owns 50,850 shares of the company’s stock valued at $680,000 after buying an additional 3,300 shares during the period. Hedge funds and other institutional investors own 93.77% of the company’s stock.

About Ferro Corp.

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. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides.

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