Ferro Corp. (FOE) Stock Price Up 2.3%
Ferro Corp. (NYSE:FOE) rose 2.3% on Wednesday . The company traded as high as $14.14 and last traded at $13.36, with a volume of 785,642 shares trading hands. The stock had previously closed at $13.06.
Separately, Zacks Investment Research raised Ferro Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th.
The company has a 50-day moving average of $13.91 and a 200-day moving average of $11.68. The company has a market capitalization of $1.13 billion and a PE ratio of 27.84.
Ferro Corp. (NYSE:FOE) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $277.45 million for the quarter, compared to analysts’ expectations of $281.70 million. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 EPS. Equities analysts anticipate that Ferro Corp. will post $0.96 earnings per share for the current fiscal year.
Other hedge funds and institutional investors have modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Ferro Corp. by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 135,280 shares of the company’s stock worth $1,504,000 after buying an additional 2,379 shares in the last quarter. Morgan Stanley raised its position in shares of Ferro Corp. by 876.4% in the fourth quarter. Morgan Stanley now owns 292,023 shares of the company’s stock valued at $3,248,000 after buying an additional 262,115 shares during the period. Mutual of America Capital Management LLC raised its position in shares of 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 valued at $3,917,000 after buying an additional 112,265 shares during the period. Oxford Asset Management raised its position in shares of Ferro Corp. by 210.7% in the fourth quarter. Oxford Asset Management now owns 580,934 shares of the company’s stock valued at $6,483,000 after buying an additional 393,936 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Ferro Corp. by 555.2% in the fourth quarter. Marshall Wace LLP now owns 758,047 shares of the company’s stock valued at $8,429,000 after buying an additional 642,343 shares during the period.
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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