Royal Bank of Canada Has $24.30 Million Position in Ferro Co. (NYSE:FOE)

Royal Bank of Canada boosted its holdings in shares of Ferro Co. (NYSE:FOE) by 16.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,441,453 shares of the specialty chemicals company’s stock after buying an additional 204,586 shares during the period. Royal Bank of Canada owned about 1.74% of Ferro worth $24,303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FOE. BlackRock Inc. lifted its holdings in shares of Ferro by 2.9% during the first quarter. BlackRock Inc. now owns 12,866,446 shares of the specialty chemicals company’s stock valued at $216,928,000 after acquiring an additional 367,596 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Ferro by 8.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 6,609,187 shares of the specialty chemicals company’s stock valued at $111,431,000 after acquiring an additional 541,548 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Ferro by 9.8% during the first quarter. Geode Capital Management LLC now owns 1,304,551 shares of the specialty chemicals company’s stock valued at $21,994,000 after acquiring an additional 116,797 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Ferro by 56.4% during the first quarter. Bank of New York Mellon Corp now owns 1,276,708 shares of the specialty chemicals company’s stock valued at $21,524,000 after acquiring an additional 460,174 shares during the period. Finally, Royce & Associates LP lifted its holdings in shares of Ferro by 26.6% during the first quarter. Royce & Associates LP now owns 1,228,394 shares of the specialty chemicals company’s stock valued at $20,711,000 after acquiring an additional 257,809 shares during the period. Hedge funds and other institutional investors own 98.28% of the company’s stock.

FOE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $22.00 price objective on shares of Ferro in a report on Monday, May 17th. JPMorgan Chase & Co. lifted their price target on Ferro from $16.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday, May 18th. Zacks Investment Research cut Ferro from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 13th. Gabelli reaffirmed a “sell” rating on shares of Ferro in a report on Tuesday, May 18th. Finally, G.Research cut Ferro from a “buy” rating to a “sell” rating in a report on Wednesday, May 12th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Ferro presently has an average rating of “Hold” and an average target price of $20.50.

Shares of NYSE:FOE opened at $20.94 on Thursday. The company has a market cap of $1.73 billion, a PE ratio of 22.54 and a beta of 1.55. Ferro Co. has a 1-year low of $11.33 and a 1-year high of $22.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.18. The stock’s 50-day moving average price is $21.46.

Ferro (NYSE:FOE) last announced its quarterly earnings data on Tuesday, May 11th. The specialty chemicals company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.14. The firm had revenue of $288.40 million during the quarter, compared to analysts’ expectations of $259.87 million. Ferro had a return on equity of 18.31% and a net margin of 13.53%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 EPS. Sell-side analysts expect that Ferro Co. will post 1.24 EPS for the current fiscal year.

Ferro Company Profile

Ferro Corporation produces and markets specialty materials in the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through two segments, Functional Coatings 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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