New York State Common Retirement Fund Has $2.20 Million Position in Ferro Co. (NYSE:FOE)

New York State Common Retirement Fund lowered its position in shares of Ferro Co. (NYSE:FOE) by 5.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 116,102 shares of the specialty chemicals company’s stock after selling 6,965 shares during the quarter. New York State Common Retirement Fund’s holdings in Ferro were worth $2,198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chartwell Investment Partners LLC boosted its holdings in shares of Ferro by 0.6% in the first quarter. Chartwell Investment Partners LLC now owns 109,860 shares of the specialty chemicals company’s stock valued at $2,080,000 after buying an additional 670 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Ferro by 8.1% in the fourth quarter. Prudential Financial Inc. now owns 10,480 shares of the specialty chemicals company’s stock valued at $164,000 after buying an additional 785 shares during the period. Bank of Montreal Can boosted its holdings in shares of Ferro by 1.5% in the first quarter. Bank of Montreal Can now owns 78,527 shares of the specialty chemicals company’s stock valued at $1,487,000 after buying an additional 1,165 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of Ferro by 3.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 39,370 shares of the specialty chemicals company’s stock valued at $617,000 after buying an additional 1,351 shares during the period. Finally, LS Investment Advisors LLC acquired a new position in shares of Ferro in the first quarter valued at approximately $47,000. Hedge funds and other institutional investors own 98.24% of the company’s stock.

Shares of FOE stock opened at $15.50 on Friday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.47 and a current ratio of 2.55. The firm has a market capitalization of $1.25 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.16 and a beta of 1.87. Ferro Co. has a 12 month low of $13.52 and a 12 month high of $23.88.

Ferro (NYSE:FOE) last announced its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. The business had revenue of $387.50 million for the quarter, compared to analyst estimates of $396.60 million. Ferro had a net margin of 4.41% and a return on equity of 30.06%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Analysts anticipate that Ferro Co. will post 1.39 earnings per share for the current fiscal year.

In other news, Director Allen A. Spizzo purchased 2,500 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $15.90 per share, with a total value of $39,750.00. Following the completion of the transaction, the director now owns 2,500 shares of the company’s stock, valued at approximately $39,750. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Peter T. Thomas purchased 17,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $15.92 per share, for a total transaction of $270,640.00. Following the completion of the transaction, the chief executive officer now directly owns 677,956 shares of the company’s stock, valued at approximately $10,793,059.52. The disclosure for this purchase can be found here. In the last three months, insiders bought 24,500 shares of company stock worth $387,490. 2.71% of the stock is currently owned by insiders.

FOE has been the subject of several research analyst reports. ValuEngine upgraded shares of Ferro from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. BMO Capital Markets cut shares of Ferro from an “outperform” rating to a “market perform” rating and set a $18.83 price target for the company. in a report on Monday, April 1st. Northcoast Research lowered shares of Ferro from a “buy” rating to a “neutral” rating in a research report on Monday, April 1st. KeyCorp cut their price objective on shares of Ferro from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Finally, Deutsche Bank cut their price objective on shares of Ferro from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.17.

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Ferro Company Profile

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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Institutional Ownership by Quarter for Ferro (NYSE:FOE)

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