California State Teachers Retirement System decreased its stake in shares of Ferro Corporation (NYSE:FOE) by 9.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,447 shares of the specialty chemicals company’s stock after selling 15,502 shares during the quarter. California State Teachers Retirement System owned about 0.18% of Ferro Corporation worth $2,715,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in shares of Ferro Corporation by 1.0% during the 2nd quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock worth $213,000 after purchasing an additional 120 shares during the last quarter. Highlander Capital Management LLC increased its position in shares of Ferro Corporation by 0.4% during the 2nd quarter. Highlander Capital Management LLC now owns 56,200 shares of the specialty chemicals company’s stock worth $1,028,000 after purchasing an additional 200 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Ferro Corporation by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,370 shares of the specialty chemicals company’s stock worth $1,178,000 after purchasing an additional 519 shares during the last quarter. Amalgamated Bank increased its position in shares of Ferro Corporation by 5.5% during the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock worth $197,000 after purchasing an additional 564 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Ferro Corporation by 1.9% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 58,315 shares of the specialty chemicals company’s stock worth $886,000 after purchasing an additional 1,064 shares during the last quarter. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Ronald P. Vargo sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $24.13, for a total transaction of $289,560.00. Following the transaction, the director now directly owns 43,450 shares of the company’s stock, valued at approximately $1,048,448.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.02% of the stock is currently owned by insiders.

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Several research analysts have weighed in on the company. KeyCorp reaffirmed an “overweight” rating on shares of Ferro Corporation in a research report on Friday. Zacks Investment Research raised Ferro Corporation from a “sell” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Monday, July 31st. Longbow Research reaffirmed a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of Ferro Corporation in a research report on Wednesday, August 23rd. BidaskClub raised Ferro Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of Ferro Corporation in a research report on Monday, July 31st. Six research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $23.60.

Ferro Corporation (NYSE FOE) opened at $23.82 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.53 and a current ratio of 2.48. The firm has a market capitalization of $1,990.77, a P/E ratio of 18.55 and a beta of 1.90. Ferro Corporation has a 1-year low of $13.55 and a 1-year high of $24.84.

Ferro Corporation (NYSE:FOE) last posted its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $350.01 million for the quarter, compared to analyst estimates of $332.28 million. Ferro Corporation had a return on equity of 35.77% and a net margin of 3.44%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. analysts anticipate that Ferro Corporation will post 1.29 earnings per share for the current fiscal year.

Ferro Corporation Company Profile

Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel. Its manufacturers make products for various end-use markets.

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Institutional Ownership by Quarter for Ferro Corporation (NYSE:FOE)

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