Geode Capital Management LLC grew its holdings in shares of Ferro Co. (NYSE:FOE) by 6.9% during the 4th quarter, Holdings Channel reports. The firm owned 877,998 shares of the specialty chemicals company’s stock after buying an additional 56,465 shares during the period. Geode Capital Management LLC’s holdings in Ferro were worth $13,767,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Stifel Financial Corp increased its stake in Ferro by 3,175.2% during the fourth quarter. Stifel Financial Corp now owns 428,299 shares of the specialty chemicals company’s stock worth $6,688,000 after purchasing an additional 415,222 shares during the period. Dimensional Fund Advisors LP increased its stake in Ferro by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,402,299 shares of the specialty chemicals company’s stock worth $53,349,000 after purchasing an additional 72,976 shares during the period. Great West Life Assurance Co. Can increased its stake in Ferro by 37.2% during the fourth quarter. Great West Life Assurance Co. Can now owns 10,823 shares of the specialty chemicals company’s stock worth $164,000 after purchasing an additional 2,932 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in Ferro during the fourth quarter worth about $49,000. Finally, Royce & Associates LP increased its stake in Ferro by 0.3% during the fourth quarter. Royce & Associates LP now owns 895,599 shares of the specialty chemicals company’s stock worth $14,043,000 after purchasing an additional 2,500 shares during the period. 98.89% of the stock is currently owned by institutional investors.

In other news, CFO Benjamin Schlater sold 7,419 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $20.83, for a total transaction of $154,537.77. Following the completion of the transaction, the chief financial officer now directly owns 33,107 shares of the company’s stock, valued at $689,618.81. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.71% of the company’s stock.

FOE has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Ferro from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research note on Friday, January 4th. Buckingham Research initiated coverage on shares of Ferro in a research note on Friday, January 4th. They set a “buy” rating and a $20.00 price target on the stock. ValuEngine lowered shares of Ferro from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 17th. BMO Capital Markets lowered shares of Ferro from an “outperform” rating to a “market perform” rating and set a $18.83 price target on the stock. in a research note on Monday, April 1st. Finally, Northcoast Research lowered shares of Ferro from a “buy” rating to a “neutral” rating in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $20.17.

Shares of Ferro stock opened at $17.51 on Wednesday. Ferro Co. has a one year low of $14.59 and a one year high of $24.72. The stock has a market cap of $1.47 billion, a PE ratio of 11.67, a P/E/G ratio of 1.05 and a beta of 1.79. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.30 and a quick ratio of 1.37.

Ferro (NYSE:FOE) last announced its quarterly earnings data on Wednesday, February 27th. The specialty chemicals company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.03. Ferro had a return on equity of 32.99% and a net margin of 4.97%. The business had revenue of $395.50 million during the quarter, compared to the consensus estimate of $389.36 million. During the same period in the previous year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, sell-side analysts predict that Ferro Co. will post 1.51 earnings per share for the current year.

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About Ferro

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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Institutional Ownership by Quarter for Ferro (NYSE:FOE)

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