Wells Fargo & Company MN grew its stake in shares of Ferro Co. (NYSE:FOE) by 1,203.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 756,163 shares of the specialty chemicals company’s stock after acquiring an additional 698,171 shares during the period. Wells Fargo & Company MN’s holdings in Ferro were worth $7,077,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its stake in Ferro by 2.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,289,569 shares of the specialty chemicals company’s stock worth $78,444,000 after purchasing an additional 151,153 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Ferro by 3.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 4,455,779 shares of the specialty chemicals company’s stock worth $41,706,000 after buying an additional 137,614 shares during the period. Gabelli Funds LLC grew its position in shares of Ferro by 6.9% during the 4th quarter. Gabelli Funds LLC now owns 3,405,274 shares of the specialty chemicals company’s stock worth $50,500,000 after buying an additional 221,274 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Ferro by 62.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,397,417 shares of the specialty chemicals company’s stock worth $50,383,000 after buying an additional 1,305,626 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Ferro by 11.5% during the fourth quarter. Macquarie Group Ltd. now owns 2,798,465 shares of the specialty chemicals company’s stock valued at $41,501,000 after buying an additional 288,600 shares during the period. Hedge funds and other institutional investors own 98.00% of the company’s stock.
FOE stock opened at $11.94 on Wednesday. Ferro Co. has a one year low of $7.52 and a one year high of $16.04. The firm has a market cap of $973.76 million, a price-to-earnings ratio of 10.48, a PEG ratio of 1.81 and a beta of 1.83. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.68 and a current ratio of 2.47. The firm has a 50-day simple moving average of $11.81 and a two-hundred day simple moving average of $12.08.
Ferro (NYSE:FOE) last posted its earnings results on Monday, May 11th. The specialty chemicals company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.14. The company had revenue of $252.30 million during the quarter, compared to analysts’ expectations of $246.34 million. Ferro had a net margin of 0.68% and a return on equity of 24.68%. Ferro’s revenue for the quarter was down 34.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. As a group, equities analysts predict that Ferro Co. will post 0.69 earnings per share for the current fiscal year.
Several brokerages have issued reports on FOE. ValuEngine upgraded shares of Ferro from a “sell” rating to a “hold” rating in a report on Thursday, June 4th. Deutsche Bank increased their price objective on shares of Ferro from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Zacks Investment Research lowered shares of Ferro from a “buy” rating to a “hold” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Ferro has an average rating of “Hold” and an average target price of $13.20.
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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