Insider Selling: Ferro Co. (FOE) CFO Sells $297,580.50 in Stock

Ferro Co. (NYSE:FOE) CFO Benjamin Schlater sold 12,663 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $23.50, for a total transaction of $297,580.50. Following the completion of the sale, the chief financial officer now owns 6,495 shares of the company’s stock, valued at $152,632.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Ferro Co. (FOE) opened at $23.95 on Friday. The company has a market cap of $2,008.38, a price-to-earnings ratio of 18.71 and a beta of 1.90. Ferro Co. has a twelve month low of $13.55 and a twelve month high of $25.50. The company has a quick ratio of 1.53, a current ratio of 2.48 and a debt-to-equity ratio of 1.94.

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

Several hedge funds and other institutional investors have recently modified their holdings of FOE. Amalgamated Bank raised its position in shares of Ferro by 5.5% in the second quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after purchasing an additional 564 shares during the period. Intrust Bank NA bought a new stake in shares of Ferro in the third quarter valued at approximately $210,000. Principal Financial Group Inc. raised its position in shares of Ferro by 1.0% in the second quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock valued at $213,000 after purchasing an additional 120 shares during the period. Airain ltd bought a new stake in shares of Ferro in the second quarter valued at approximately $214,000. Finally, Prudential Financial Inc. bought a new stake in shares of Ferro in the third quarter valued at approximately $217,000. Hedge funds and other institutional investors own 97.85% of the company’s stock.

A number of equities research analysts have commented on the stock. ValuEngine cut shares of Ferro from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. KeyCorp restated an “overweight” rating on shares of Ferro in a report on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Ferro from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Friday, October 13th. Seven analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $23.60.

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About Ferro

Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.

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