Prudential Financial Inc. Buys Shares of 9,715 Ferro Corporation (FOE)
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.
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.
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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; 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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