Bank of Montreal Can boosted its stake in shares of Ferro Co. (NYSE:FOE) by 24.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,849 shares of the specialty chemicals company’s stock after buying an additional 16,514 shares during the quarter. Bank of Montreal Can owned 0.10% of Ferro worth $1,947,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of FOE. Sheets Smith Wealth Management acquired a new position in Ferro during the second quarter worth about $287,000. UBS Group AG grew its position in Ferro by 46.0% during the first quarter. UBS Group AG now owns 16,846 shares of the specialty chemicals company’s stock worth $391,000 after buying an additional 5,309 shares during the period. Brown Advisory Inc. grew its position in Ferro by 49.8% during the first quarter. Brown Advisory Inc. now owns 17,160 shares of the specialty chemicals company’s stock worth $398,000 after buying an additional 5,708 shares during the period. Engineers Gate Manager LP acquired a new position in Ferro during the second quarter worth about $745,000. Finally, MetLife Investment Advisors LLC grew its position in Ferro by 7.6% during the second quarter. MetLife Investment Advisors LLC now owns 38,898 shares of the specialty chemicals company’s stock worth $811,000 after buying an additional 2,753 shares during the period. Institutional investors own 96.35% of the company’s stock.
Several research analysts have weighed in on the stock. ValuEngine lowered shares of Ferro from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Gabelli restated a “buy” rating on shares of Ferro in a research report on Friday, July 27th. Finally, Zacks Investment Research upgraded shares of Ferro from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $27.00.
FOE stock opened at $18.50 on Friday. The company has a market capitalization of $1.52 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.73 and a beta of 1.70. Ferro Co. has a 12 month low of $15.59 and a 12 month high of $25.50. The company has a current ratio of 2.67, a quick ratio of 1.56 and a debt-to-equity ratio of 2.12.
Ferro (NYSE:FOE) last released its quarterly earnings results on Thursday, November 8th. The specialty chemicals company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $395.16 million during the quarter, compared to analyst estimates of $400.74 million. Ferro had a net margin of 4.34% and a return on equity of 32.63%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. Equities analysts anticipate that Ferro Co. will post 1.59 EPS for the current fiscal year.
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.
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