Ferro (FOE) Upgraded at ValuEngine

ValuEngine upgraded shares of Ferro (NYSE:FOE) from a hold rating to a buy rating in a report released on Friday morning.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Ferro from a hold rating to a buy rating and set a $27.00 price objective for the company in a research note on Thursday, January 11th. KeyCorp reiterated an overweight rating on shares of Ferro in a research note on Friday, November 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $23.80.

Shares of Ferro (NYSE FOE) opened at $22.59 on Friday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.48 and a quick ratio of 1.53. The company has a market cap of $1,894.34, a PE ratio of 42.62 and a beta of 1.72. Ferro has a one year low of $13.55 and a one year high of $25.50.

In other news, CFO Benjamin Schlater sold 12,663 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were 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 in the company, valued at approximately $152,632.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Barna sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $23.37, for a total transaction of $280,440.00. Following the sale, the insider now owns 8,428 shares of the company’s stock, valued at approximately $196,962.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,428 shares of company stock valued at $4,192,872. 2.02% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of FOE. Victory Capital Management Inc. increased its stake in shares of Ferro by 78.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,561,811 shares of the specialty chemicals company’s stock worth $57,128,000 after purchasing an additional 1,124,721 shares during the last quarter. Paradice Investment Management LLC increased its stake in shares of Ferro by 46.4% during the 3rd quarter. Paradice Investment Management LLC now owns 3,318,174 shares of the specialty chemicals company’s stock worth $43,667,000 after purchasing an additional 1,051,915 shares during the last quarter. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Ferro during the 3rd quarter worth approximately $16,262,000. Goldman Sachs Group Inc. increased its stake in shares of Ferro by 193.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 465,098 shares of the specialty chemicals company’s stock worth $8,506,000 after purchasing an additional 306,607 shares during the last quarter. Finally, Boston Advisors LLC purchased a new stake in shares of Ferro during the 3rd quarter worth approximately $4,226,000. Institutional investors own 97.68% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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