Dana Investment Advisors Inc. Sells 13,038 Shares of Ferro Co. (FOE)
Dana Investment Advisors Inc. cut its holdings in shares of Ferro Co. (NYSE:FOE) by 9.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,670 shares of the specialty chemicals company’s stock after selling 13,038 shares during the quarter. Dana Investment Advisors Inc. owned about 0.14% of Ferro worth $2,691,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of FOE. JPMorgan Chase & Co. boosted its position in Ferro by 2,372.0% during the second quarter. JPMorgan Chase & Co. now owns 1,512,327 shares of the specialty chemicals company’s stock worth $27,661,000 after acquiring an additional 1,451,149 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Ferro in the 2nd quarter valued at about $26,285,000. Paradice Investment Management LLC boosted its holdings in Ferro by 124.5% in the 2nd quarter. Paradice Investment Management LLC now owns 2,266,259 shares of the specialty chemicals company’s stock valued at $27,082,000 after purchasing an additional 1,256,703 shares during the last quarter. Mesirow Financial Investment Management Equity Management acquired a new position in Ferro in the 3rd quarter valued at about $16,262,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Ferro by 193.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 465,098 shares of the specialty chemicals company’s stock valued at $8,506,000 after purchasing an additional 306,607 shares during the last quarter. Hedge funds and other institutional investors own 97.85% of the company’s stock.
Ferro Co. (NYSE:FOE) opened at $23.40 on Thursday. The company has a quick ratio of 1.53, a current ratio of 2.48 and a debt-to-equity ratio of 1.94. The firm has a market cap of $1,963.10, a PE ratio of 18.29 and a beta of 1.90. Ferro Co. has a fifty-two week low of $13.55 and a fifty-two week high of $25.50.
Ferro (NYSE:FOE) last issued its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. Ferro had a net margin of 3.44% and a return on equity of 35.77%. The firm had revenue of $350.01 million for the quarter, compared to analyst estimates of $332.28 million. During the same period in the prior year, the business posted $0.27 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. equities research analysts predict that Ferro Co. will post 1.29 earnings per share for the current fiscal year.
In other news, Director Ronald P. Vargo sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $24.13, for a total value of $289,560.00. Following the transaction, the director now directly owns 43,450 shares in the company, valued at approximately $1,048,448.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Peter T. Thomas sold 22,182 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $22.83, for a total transaction of $506,415.06. Following the completion of the transaction, the chief executive officer now owns 374,158 shares in the company, valued at $8,542,027.14. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.
Several research firms have weighed in on FOE. Zacks Investment Research lowered shares of Ferro from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Longbow Research reiterated a “buy” rating and issued a $24.00 target price (up from $22.00) on shares of Ferro in a report on Wednesday, August 23rd. KeyCorp reiterated an “overweight” rating on shares of Ferro in a report on Friday, November 10th. Finally, ValuEngine lowered shares of Ferro from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Seven equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $23.60.
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Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.
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