Ferro Co. (FOE) Short Interest Up 57.8% in January

Ferro Co. (NYSE:FOE) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,623,050 shares, an increase of 57.8% from the January 12th total of 1,028,781 shares. Based on an average daily volume of 370,824 shares, the short-interest ratio is currently 4.4 days. Approximately 2.0% of the company’s shares are sold short.

A number of equities research analysts have recently commented on the company. ValuEngine raised Ferro from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded Ferro from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, KeyCorp reissued an “overweight” rating on shares of Ferro in a research report on Friday, November 10th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Ferro currently has a consensus rating of “Buy” and a consensus target price of $23.80.

Shares of Ferro (NYSE:FOE) opened at $21.70 on Friday. Ferro has a 1 year low of $13.56 and a 1 year high of $25.50. 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 stock has a market capitalization of $1,782.81, a PE ratio of 40.94 and a beta of 1.72.

In other news, Chairman Peter T. Thomas sold 73,583 shares of Ferro stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $23.51, for a total value of $1,729,936.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark Hugo Duesenberg sold 10,000 shares of Ferro stock in a transaction on Friday, December 15th. The shares were sold at an average price of $23.80, for a total value of $238,000.00. Following the completion of the sale, the general counsel now directly owns 130,545 shares of the company’s stock, valued at approximately $3,106,971. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,246 shares of company stock valued at $3,396,897. Company insiders own 2.02% of the company’s stock.

A number of hedge funds have recently bought and sold shares of FOE. Stone Ridge Asset Management LLC purchased a new stake in Ferro during the fourth quarter valued at about $207,000. Intrust Bank NA purchased a new stake in Ferro during the third quarter valued at about $210,000. SG Americas Securities LLC purchased a new stake in Ferro during the fourth quarter valued at about $211,000. Prudential Financial Inc. purchased a new stake in Ferro during the third quarter valued at about $217,000. Finally, Brown Advisory Inc. purchased a new stake in Ferro during the fourth quarter valued at about $270,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

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About Ferro

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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