Ferro (NYSE:FOE) Sets New 1-Year Low at $13.36

Ferro Co. (NYSE:FOE) shares hit a new 52-week low on Thursday . The company traded as low as $13.36 and last traded at $13.38, with a volume of 910660 shares. The stock had previously closed at $14.73.

A number of brokerages have recently weighed in on FOE. Buckingham Research lowered shares of Ferro from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $21.00 to $16.00 in a report on Thursday. TheStreet lowered shares of Ferro from a “b-” rating to a “c+” rating in a report on Wednesday, May 29th. Zacks Investment Research upgraded shares of Ferro from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Finally, ValuEngine lowered shares of Ferro from a “sell” rating to a “strong sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Ferro currently has a consensus rating of “Hold” and an average target price of $19.37.

The company has a debt-to-equity ratio of 2.25, a current ratio of 2.58 and a quick ratio of 1.47. The company has a 50 day simple moving average of $15.06. The stock has a market capitalization of $1.21 billion, a P/E ratio of 8.33, a PEG ratio of 1.28 and a beta of 1.92.

Ferro (NYSE:FOE) last issued its earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Ferro had a net margin of 3.28% and a return on equity of 27.77%. The company had revenue of $393.90 million for the quarter, compared to the consensus estimate of $415.39 million. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, analysts predict that Ferro Co. will post 1.21 EPS for the current fiscal year.

In other news, CEO Peter T. Thomas bought 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average cost of $15.92 per share, with a total value of $270,640.00. Following the completion of the purchase, the chief executive officer now directly owns 677,956 shares in the company, valued at $10,793,059.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Allen A. Spizzo bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average cost of $15.33 per share, for a total transaction of $38,325.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $76,650. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 24,500 shares of company stock worth $387,490. 2.71% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of FOE. Norges Bank purchased a new position in shares of Ferro in the fourth quarter worth $11,016,000. JPMorgan Chase & Co. increased its position in Ferro by 11.2% during the 1st quarter. JPMorgan Chase & Co. now owns 2,270,676 shares of the specialty chemicals company’s stock valued at $42,985,000 after purchasing an additional 228,960 shares during the period. Keybank National Association OH purchased a new position in Ferro during the 1st quarter valued at $2,507,000. Arizona State Retirement System purchased a new position in Ferro during the 1st quarter valued at $2,433,000. Finally, Rhumbline Advisers increased its position in Ferro by 113.0% during the 1st quarter. Rhumbline Advisers now owns 235,772 shares of the specialty chemicals company’s stock valued at $4,463,000 after purchasing an additional 125,078 shares during the period. 98.24% of the stock is currently owned by institutional investors.

About Ferro (NYSE:FOE)

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.

Read More: Quiet Period

Receive News & Ratings for Ferro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferro and related companies with MarketBeat.com's FREE daily email newsletter.