Prudential Financial Inc. bought a new stake in shares of Ferro Corporation (NYSE:FOE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,715 shares of the specialty chemicals company’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FOE. JPMorgan Chase & Co. increased its stake in shares of Ferro by 2,372.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,512,327 shares of the specialty chemicals company’s stock worth $27,661,000 after purchasing an additional 1,451,149 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Ferro in the 2nd quarter worth $26,285,000. Paradice Investment Management LLC increased its stake in shares of Ferro by 124.5% in the 2nd quarter. Paradice Investment Management LLC now owns 2,266,259 shares of the specialty chemicals company’s stock worth $27,082,000 after purchasing an additional 1,256,703 shares in the last quarter. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Ferro in the 3rd quarter worth $16,262,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Ferro by 193.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 465,098 shares of the specialty chemicals company’s stock worth $8,506,000 after purchasing an additional 306,607 shares in the last quarter. Institutional investors and hedge funds own 97.85% of the company’s stock.

In other Ferro news, CEO Peter T. Thomas sold 22,182 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $22.83, for a total transaction of $506,415.06. Following the completion of the transaction, the chief executive officer now owns 374,158 shares of the company’s stock, valued at approximately $8,542,027.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marran H. Ogilvie acquired 2,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were bought at an average cost of $23.60 per share, with a total value of $47,200.00. The disclosure for this purchase can be found here. Corporate insiders own 2.02% of the company’s stock.

Several research firms have recently commented on FOE. ValuEngine lowered Ferro from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. KeyCorp reiterated an “overweight” rating on shares of Ferro in a research note on Friday, November 10th. Finally, Zacks Investment Research upgraded Ferro from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Friday, October 13th. Seven equities research analysts have rated the stock with a buy rating, Ferro has a consensus rating of “Buy” and an average price target of $23.60.

Shares of Ferro Corporation (FOE) traded up $0.02 during mid-day trading on Wednesday, reaching $23.41. The company’s stock had a trading volume of 782,500 shares, compared to its average volume of 517,765. Ferro Corporation has a 1-year low of $13.55 and a 1-year high of $25.50. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.48 and a quick ratio of 1.53. The stock has a market cap of $1,961.42, a price-to-earnings ratio of 18.27 and a beta of 1.90.

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

ILLEGAL ACTIVITY WARNING: This report was published by Watch List News and is owned by of Watch List News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright legislation. The legal version of this report can be viewed at https://www.watchlistnews.com/prudential-financial-inc-buys-shares-of-9715-ferro-corporation-foe/1761601.html.

Ferro 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.

Institutional Ownership by Quarter for Ferro (NYSE:FOE)

Receive News & Ratings for Ferro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferro and related companies with MarketBeat.com's FREE daily email newsletter.