Marran H. Ogilvie Buys 2,000 Shares of Ferro Corporation (FOE) Stock

Ferro Corporation (NYSE:FOE) Director Marran H. Ogilvie acquired 2,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were bought at an average price of $23.60 per share, with a total value of $47,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ferro Corporation (NYSE:FOE) traded down $0.05 during midday trading on Friday, hitting $23.91. 434,056 shares of the stock were exchanged, compared to its average volume of 609,161. The company has a current ratio of 2.48, a quick ratio of 1.53 and a debt-to-equity ratio of 1.94. Ferro Corporation has a 52 week low of $13.55 and a 52 week high of $24.84. The firm has a market capitalization of $2,000.00, a P/E ratio of 18.16 and a beta of 1.90.

Ferro Corporation (NYSE:FOE) last released its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Ferro Corporation had a net margin of 3.44% and a return on equity of 35.77%. The company had revenue of $350.01 million during the quarter, compared to the consensus estimate of $332.28 million. During the same period in the previous year, the business earned $0.27 earnings per share. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. research analysts predict that Ferro Corporation will post 1.29 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOE. UBS Asset Management Americas Inc. raised its position in shares of Ferro Corporation by 50.7% in the first quarter. UBS Asset Management Americas Inc. now owns 23,497 shares of the specialty chemicals company’s stock valued at $357,000 after buying an additional 7,900 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ferro Corporation by 5.1% in the first quarter. Vanguard Group Inc. now owns 6,703,134 shares of the specialty chemicals company’s stock valued at $101,821,000 after buying an additional 324,188 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Ferro Corporation by 6.5% in the first quarter. Geode Capital Management LLC now owns 641,105 shares of the specialty chemicals company’s stock valued at $9,738,000 after buying an additional 38,990 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Ferro Corporation by 114.3% in the first quarter. Renaissance Technologies LLC now owns 53,800 shares of the specialty chemicals company’s stock valued at $817,000 after buying an additional 28,700 shares in the last quarter. Finally, KCG Holdings Inc. acquired a new stake in shares of Ferro Corporation in the first quarter valued at approximately $181,000. Institutional investors own 97.57% of the company’s stock.

FOE has been the subject of several research reports. Zacks Investment Research upgraded shares of Ferro Corporation from a “sell” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Monday, July 31st. KeyCorp restated an “overweight” rating on shares of Ferro Corporation in a research report on Friday, November 10th. Deutsche Bank AG restated a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of Ferro Corporation in a research report on Monday, July 31st. Finally, BidaskClub upgraded shares of Ferro Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Six equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $23.60.

About Ferro Corporation

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.

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