Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Ferro Corporation (NYSE:FOE) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 729,378 shares of the specialty chemicals company’s stock, valued at approximately $16,262,000. Mesirow Financial Investment Management Equity Management owned 0.87% of Ferro Corporation as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in FOE. KCG Holdings Inc. purchased a new stake in Ferro Corporation during the 1st quarter valued at $181,000. Amalgamated Bank grew its position in Ferro Corporation by 5.5% in the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after acquiring an additional 564 shares during the last quarter. Principal Financial Group Inc. grew its position in Ferro Corporation by 1.0% in the 2nd quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock valued at $213,000 after acquiring an additional 120 shares during the last quarter. Airain ltd bought a new position in Ferro Corporation in the 2nd quarter valued at $214,000. Finally, Bowling Portfolio Management LLC bought a new position in Ferro Corporation in the 2nd quarter valued at $236,000. Institutional investors own 96.66% of the company’s stock.
Several equities analysts have commented on FOE shares. KeyCorp reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Ferro Corporation in a research report on Friday, September 1st. Zacks Investment Research downgraded Ferro Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Ferro Corporation in a research report on Monday, July 31st. Finally, BidaskClub downgraded Ferro Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Six equities research analysts have rated the stock with a buy rating, Ferro Corporation presently has a consensus rating of “Buy” and an average price target of $23.60.
Ferro Corporation (NYSE:FOE) last posted its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Ferro Corporation had a return on equity of 35.05% and a net margin of 1.06%. The company had revenue of $350.01 million for the quarter, compared to the consensus estimate of $332.28 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis.
Ferro Corporation Company Profile
Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel. Its manufacturers make products for various end-use markets.
Want to see what other hedge funds are holding FOE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferro Corporation (NYSE:FOE).
Receive News & Ratings for Ferro Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferro Corporation and related companies with MarketBeat.com's FREE daily email newsletter.