Insider Buying: Ferro Co. (FOE) Director Purchases 2,500 Shares of Stock
Ferro Co. (NYSE:FOE) Director Allen A. Spizzo bought 2,500 shares of Ferro stock in a transaction on Friday, May 17th. The stock was acquired at an average cost of $15.33 per share, for a total transaction of $38,325.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $76,650. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
NYSE:FOE traded up $0.38 during trading hours on Tuesday, hitting $15.10. 690,373 shares of the company were exchanged, compared to its average volume of 1,004,026. The firm has a market cap of $1.25 billion, a P/E ratio of 10.08, a P/E/G ratio of 1.17 and a beta of 1.73. The company has a quick ratio of 1.47, a current ratio of 2.55 and a debt-to-equity ratio of 2.34. Ferro Co. has a one year low of $14.59 and a one year high of $23.88.
Ferro (NYSE:FOE) last announced its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The business had revenue of $387.50 million during the quarter, compared to analyst estimates of $396.60 million. Ferro had a return on equity of 30.06% and a net margin of 4.41%. Ferro’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. As a group, equities research analysts expect that Ferro Co. will post 1.39 EPS for the current year.
A number of equities research analysts have weighed in on FOE shares. Deutsche Bank reduced their target price on Ferro from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. ValuEngine upgraded Ferro from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Zacks Investment Research cut Ferro from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 21st. BMO Capital Markets cut Ferro from an “outperform” rating to a “market perform” rating and set a $18.83 price target for the company. in a research note on Monday, April 1st. Finally, Northcoast Research cut Ferro from a “buy” rating to a “neutral” rating in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Ferro currently has a consensus rating of “Hold” and a consensus target price of $20.17.
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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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