Benjamin Schlater Sells 12,663 Shares of Ferro Co. (FOE) Stock
Ferro Co. (NYSE:FOE) CFO Benjamin Schlater sold 12,663 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $23.50, for a total transaction of $297,580.50. Following the transaction, the chief financial officer now directly owns 6,495 shares of the company’s stock, valued at approximately $152,632.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Ferro Co. (FOE) opened at $23.95 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.53 and a debt-to-equity ratio of 1.94. The company has a market cap of $1,956.39, a price-to-earnings ratio of 18.23 and a beta of 1.90. Ferro Co. has a 52-week low of $13.55 and a 52-week high of $25.50.
Ferro (NYSE:FOE) last announced its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $350.01 million for the quarter, compared to analysts’ expectations of $332.28 million. Ferro had a return on equity of 35.77% and a net margin of 3.44%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. equities analysts expect that Ferro Co. will post 1.29 EPS for the current year.
FOE has been the topic of several analyst reports. Zacks Investment Research lowered shares of Ferro from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. KeyCorp restated an “overweight” rating on shares of Ferro in a research report on Friday, November 10th. Finally, Longbow Research restated a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of Ferro in a research report on Wednesday, August 23rd. Seven research analysts have rated the stock with a buy rating, Ferro currently has an average rating of “Buy” and a consensus price target of $23.60.
Hedge funds have recently made changes to their positions in the company. Intrust Bank NA bought a new stake in shares of Ferro during the third quarter worth $210,000. Prudential Financial Inc. bought a new position in Ferro in the third quarter valued at about $217,000. Amalgamated Bank boosted its holdings in Ferro by 5.5% in the second quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after acquiring an additional 564 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Ferro by 1.0% in the second quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock valued at $213,000 after acquiring an additional 120 shares during the last quarter. Finally, Airain ltd bought a new position in Ferro in the second quarter valued at about $214,000. Institutional investors own 97.85% of the company’s stock.
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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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