Sei Investments Co. Increases Stake in Ferro Co. (FOE)

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Sei Investments Co. increased its holdings in Ferro Co. (NYSE:FOE) by 4.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,436 shares of the specialty chemicals company’s stock after purchasing an additional 3,423 shares during the period. Sei Investments Co. owned approximately 0.09% of Ferro worth $1,615,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of Ferro by 28.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,240,552 shares of the specialty chemicals company’s stock valued at $88,417,000 after purchasing an additional 942,354 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Ferro by 14.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,963,366 shares of the specialty chemicals company’s stock valued at $45,589,000 after purchasing an additional 244,770 shares in the last quarter. Scopus Asset Management L.P. boosted its stake in shares of Ferro by 23.8% in the 1st quarter. Scopus Asset Management L.P. now owns 1,693,405 shares of the specialty chemicals company’s stock valued at $39,321,000 after purchasing an additional 325,600 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Ferro by 25.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,560,876 shares of the specialty chemicals company’s stock valued at $32,544,000 after purchasing an additional 319,710 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Ferro by 2.9% in the 1st quarter. Franklin Resources Inc. now owns 1,304,916 shares of the specialty chemicals company’s stock valued at $30,300,000 after purchasing an additional 36,500 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

NYSE:FOE opened at $22.46 on Friday. Ferro Co. has a 52 week low of $19.23 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. The firm has a market cap of $1.86 billion, a P/E ratio of 17.29, a PEG ratio of 0.89 and a beta of 1.79.

Ferro (NYSE:FOE) last posted its quarterly earnings results on Wednesday, July 25th. The specialty chemicals company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. Ferro had a net margin of 4.34% and a return on equity of 32.63%. The company had revenue of $416.20 million during the quarter, compared to analyst estimates of $418.06 million. During the same period in the prior year, the business posted $0.37 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year. equities research analysts expect that Ferro Co. will post 1.59 EPS for the current fiscal year.

In related news, General Counsel Mark Hugo Duesenberg sold 11,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $22.49, for a total transaction of $247,390.00. Following the completion of the sale, the general counsel now directly owns 179,631 shares in the company, valued at approximately $4,039,901.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.02% of the company’s stock.

FOE has been the subject of a number of research reports. Gabelli reaffirmed a “buy” rating on shares of Ferro in a research note on Friday, July 27th. 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 note on Thursday, May 17th. Finally, ValuEngine lowered shares of Ferro from a “buy” rating to a “hold” rating in a report on Saturday, May 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $27.00.

Ferro Profile

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.

See Also: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for Ferro (NYSE:FOE)

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