Ferro Co. (FOE) Short Interest Update

Ferro Co. (NYSE:FOE) saw a significant decline in short interest in the month of January. As of January 12th, there was short interest totalling 1,028,781 shares, a decline of 37.3% from the December 29th total of 1,640,194 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average trading volume of 440,668 shares, the short-interest ratio is currently 2.3 days.

Several equities research analysts recently issued reports on FOE shares. ValuEngine cut Ferro from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Zacks Investment Research upgraded Ferro from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, January 4th. Finally, KeyCorp reiterated an “overweight” rating and issued a $27.00 price target (up from $23.00) on shares of Ferro in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $23.80.

In related news, Director Marran H. Ogilvie purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average cost of $23.60 per share, for a total transaction of $47,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald P. Vargo sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $24.13, for a total value of $289,560.00. Following the completion of the sale, the director now owns 43,450 shares of the company’s stock, valued at $1,048,448.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,428 shares of company stock valued at $4,192,872. Corporate insiders own 2.02% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in Ferro by 1.0% during the second quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock valued at $213,000 after purchasing an additional 120 shares in the last quarter. Highlander Capital Management LLC raised its position in Ferro by 0.4% during the second quarter. Highlander Capital Management LLC now owns 56,200 shares of the specialty chemicals company’s stock valued at $1,028,000 after purchasing an additional 200 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Ferro by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 64,370 shares of the specialty chemicals company’s stock valued at $1,178,000 after purchasing an additional 519 shares in the last quarter. Amalgamated Bank raised its position in Ferro by 5.5% during the second quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after purchasing an additional 564 shares in the last quarter. Finally, Cipher Capital LP raised its position in Ferro by 2.6% during the third quarter. Cipher Capital LP now owns 100,712 shares of the specialty chemicals company’s stock valued at $2,246,000 after purchasing an additional 2,505 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Ferro (NYSE FOE) opened at $23.52 on Thursday. Ferro has a 1 year low of $13.55 and a 1 year high of $25.50. The company has a market cap of $1,970.00, a P/E ratio of 45.23 and a beta of 1.94. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.53 and a current ratio of 2.48.

Ferro (NYSE:FOE) last announced its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. Ferro had a net margin of 3.44% and a return on equity of 35.77%. The business had revenue of $350.01 million during the quarter, compared to the consensus estimate of $332.28 million. During the same period in the previous year, the business earned $0.27 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. equities research analysts anticipate that Ferro will post 1.29 EPS for the current year.

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About Ferro

Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.

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