Insider Selling: Jeffry N. Quinn Sells 232,393 Shares of Ferro Stock (FOE)
Ferro (NYSE:FOE) Director Jeffry N. Quinn sold 232,393 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $13.38, for a total transaction of $3,109,418.34. Following the completion of the transaction, the director now directly owns 8,800 shares of the company’s stock, valued at approximately $117,744. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on FOE. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Ferro in a research note on Friday. They now have a $12.00 price target on the stock, down previously from $13.00. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Ferro in a research note on Friday, April 25th. They now have a $16.00 price target on the stock.
Ferro (NYSE:FOE) traded down 1.71% during mid-day trading on Tuesday, hitting $12.64. 522,884 shares of the company’s stock traded hands. Ferro has a 52-week low of $6.19 and a 52-week high of $14.97. The stock has a 50-day moving average of $12.88 and a 200-day moving average of $13.1. The company has a market cap of $1.099 billion and a P/E ratio of 12.75.
Ferro (NYSE:FOE) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.04. The company had revenue of $391.70 million for the quarter, compared to the consensus estimate of $411.05 million. During the same quarter last year, the company posted $0.10 earnings per share. Ferro’s revenue was down 6.2% compared to the same quarter last year. On average, analysts predict that Ferro will post $0.70 earnings per share for the current fiscal year.
Ferro Corporation (NYSE:FOE) is a producer of specialty materials and chemicals that are sold to a range of manufacturers who, in turn, make products for many end-use markets.
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