LaSalle Street Capital Management LLC trimmed its position in shares of Ferro Co. (NYSE:FOE) by 13.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,752 shares of the specialty chemicals company’s stock after selling 7,740 shares during the period. LaSalle Street Capital Management LLC’s holdings in Ferro were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of FOE. Mount Yale Investment Advisors LLC bought a new position in Ferro during the first quarter worth $100,000. SG Americas Securities LLC boosted its position in Ferro by 36.6% during the first quarter. SG Americas Securities LLC now owns 12,241 shares of the specialty chemicals company’s stock worth $284,000 after purchasing an additional 3,281 shares during the period. Sheets Smith Wealth Management bought a new position in Ferro during the second quarter worth $287,000. Pitcairn Co. boosted its position in Ferro by 39.2% during the first quarter. Pitcairn Co. now owns 13,120 shares of the specialty chemicals company’s stock worth $304,000 after purchasing an additional 3,692 shares during the period. Finally, Xact Kapitalforvaltning AB boosted its position in Ferro by 56.7% during the first quarter. Xact Kapitalforvaltning AB now owns 15,760 shares of the specialty chemicals company’s stock worth $366,000 after purchasing an additional 5,700 shares during the period. Institutional investors and hedge funds own 95.69% of the company’s stock.
FOE has been the subject of a number of research analyst reports. ValuEngine cut shares of Ferro from a “buy” rating to a “hold” rating in a research report on Saturday, May 12th. Zacks Investment Research raised shares of Ferro from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Monday, May 7th. Finally, Gabelli reaffirmed a “buy” rating on shares of Ferro in a research report on Friday, July 27th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $26.40.
In other news, General Counsel Mark Hugo Duesenberg sold 11,000 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $22.49, for a total value of $247,390.00. Following the completion of the sale, the general counsel now owns 179,631 shares of the company’s stock, valued at $4,039,901.19. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.26% of the company’s stock.
Shares of Ferro stock opened at $21.29 on Monday. The stock has a market capitalization of $1.89 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 0.91 and a beta of 1.68. Ferro Co. has a 52-week low of $18.46 and a 52-week high of $25.50. The company has a debt-to-equity ratio of 2.12, a current ratio of 2.67 and a quick ratio of 1.56.
Ferro (NYSE:FOE) last announced its earnings results on Wednesday, July 25th. The specialty chemicals company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The company had revenue of $416.20 million during the quarter, compared to analysts’ expectations of $418.06 million. Ferro had a net margin of 4.34% and a return on equity of 32.63%. Ferro’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 earnings per share. analysts anticipate that Ferro Co. will post 1.59 earnings per share for the current year.
Ferro Corporation produces specialty materials in the United States and internationally. It operates through four business units: Tile Coating Systems; Porcelain Enamel; 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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