Ferro (NYSE:FOE) Shares Down 6.2%

Ferro Co. (NYSE:FOE) was down 6.2% during mid-day trading on Tuesday . The stock traded as low as $11.09 and last traded at $11.13, approximately 1,229,300 shares traded hands during mid-day trading. An increase of 39% from the average daily volume of 884,732 shares. The stock had previously closed at $11.86.

Several analysts recently issued reports on FOE shares. Zacks Investment Research upgraded Ferro from a “sell” rating to a “hold” rating in a report on Monday, July 29th. BMO Capital Markets lowered their price target on Ferro to $15.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Buckingham Research lowered their price target on Ferro from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, September 10th. Finally, ValuEngine downgraded Ferro from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Ferro currently has an average rating of “Hold” and an average target price of $17.80.

The stock has a market capitalization of $955.33 million, a price-to-earnings ratio of 7.42, a P/E/G ratio of 1.02 and a beta of 2.02. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.49 and a current ratio of 2.58. The firm has a fifty day moving average of $11.20 and a 200-day moving average of $14.77.

Ferro (NYSE:FOE) last posted its quarterly earnings data on Tuesday, July 30th. The specialty chemicals company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $393.90 million during the quarter, compared to analysts’ expectations of $415.39 million. Ferro had a net margin of 3.28% and a return on equity of 27.77%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. On average, analysts predict that Ferro Co. will post 1.22 EPS for the current year.

In other Ferro news, CFO Benjamin Schlater sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $12.36, for a total value of $30,900.00. Following the completion of the transaction, the chief financial officer now directly owns 30,055 shares of the company’s stock, valued at approximately $371,479.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Mark Hugo Duesenberg sold 35,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $10.69, for a total transaction of $374,150.00. Following the completion of the transaction, the general counsel now directly owns 232,863 shares of the company’s stock, valued at $2,489,305.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,500 shares of company stock valued at $525,600. 2.71% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Macquarie Group Ltd. purchased a new position in Ferro in the 2nd quarter valued at about $37,981,000. Teton Advisors Inc. lifted its position in shares of Ferro by 1.1% during the second quarter. Teton Advisors Inc. now owns 1,155,493 shares of the specialty chemicals company’s stock worth $18,257,000 after purchasing an additional 12,015 shares during the last quarter. Northern Trust Corp lifted its position in shares of Ferro by 1.7% during the second quarter. Northern Trust Corp now owns 1,112,622 shares of the specialty chemicals company’s stock worth $17,579,000 after purchasing an additional 18,644 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Ferro by 386.3% during the second quarter. Nuveen Asset Management LLC now owns 658,438 shares of the specialty chemicals company’s stock worth $10,403,000 after purchasing an additional 523,047 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its position in shares of Ferro by 1.8% during the first quarter. Punch & Associates Investment Management Inc. now owns 644,836 shares of the specialty chemicals company’s stock worth $12,207,000 after purchasing an additional 11,332 shares during the last quarter. 99.73% of the stock is 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.

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