Rhumbline Advisers decreased its holdings in Ferro Co. (NYSE:FOE) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,512 shares of the specialty chemicals company’s stock after selling 15,052 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Ferro worth $1,899,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FOE. SG Americas Securities LLC acquired a new stake in shares of Ferro in the 4th quarter valued at $211,000. Prudential Financial Inc. acquired a new stake in shares of Ferro in the 3rd quarter valued at $217,000. Intrust Bank NA increased its stake in shares of Ferro by 39.3% in the 4th quarter. Intrust Bank NA now owns 13,104 shares of the specialty chemicals company’s stock valued at $309,000 after buying an additional 3,696 shares during the period. Campbell Newman Asset Management Inc. increased its stake in shares of Ferro by 22.2% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 13,962 shares of the specialty chemicals company’s stock valued at $329,000 after buying an additional 2,539 shares during the period. Finally, Sheets Smith Wealth Management acquired a new stake in shares of Ferro in the 4th quarter valued at $331,000. 95.88% of the stock is owned by institutional investors.
Shares of Ferro Co. (NYSE FOE) opened at $23.25 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.41 and a current ratio of 2.32. Ferro Co. has a 52 week low of $14.27 and a 52 week high of $25.50. The company has a market capitalization of $1,966.00, a price-to-earnings ratio of 17.99 and a beta of 1.76.
Ferro (NYSE:FOE) last announced its quarterly earnings data on Wednesday, February 28th. The specialty chemicals company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Ferro had a return on equity of 33.58% and a net margin of 4.08%. The business had revenue of $377.54 million during the quarter, compared to analysts’ expectations of $336.94 million. During the same period in the previous year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. analysts anticipate that Ferro Co. will post 1.58 EPS for the current year.
In related news, General Counsel Mark Hugo Duesenberg sold 12,000 shares of Ferro stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $24.08, for a total transaction of $288,960.00. Following the completion of the sale, the general counsel now directly owns 180,631 shares of the company’s stock, valued at $4,349,594.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,583 shares of company stock valued at $2,439,816. 2.02% of the stock is owned by insiders.
FOE has been the subject of several research reports. ValuEngine cut Ferro from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Seaport Global Securities reissued a “buy” rating on shares of Ferro in a research note on Tuesday, March 6th. Northcoast Research reissued a “buy” rating and issued a $28.00 target price on shares of Ferro in a research note on Tuesday, March 6th. Finally, Zacks Investment Research raised Ferro from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday, December 27th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $24.50.
TRADEMARK VIOLATION WARNING: “Ferro Co. (FOE) Shares Sold by Rhumbline Advisers” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was illegally copied and reposted in violation of United States and international trademark and copyright legislation. The original version of this piece can be viewed at https://ledgergazette.com/2018/03/23/ferro-co-foe-shares-sold-by-rhumbline-advisers.html.
Ferro Company Profile
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.
Want to see what other hedge funds are holding FOE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferro Co. (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.