ClariVest Asset Management LLC boosted its position in Ferro Corp. (NYSE:FOE) by 15.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 194,105 shares of the company’s stock after buying an additional 26,000 shares during the period. ClariVest Asset Management LLC’s holdings in Ferro Corp. were worth $2,598,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in FOE. Balter Liquid Alternatives LLC purchased a new position in Ferro Corp. during the first quarter worth approximately $1,083,000. Cutler Group LP boosted its position in Ferro Corp. by 62.4% in the first quarter. Cutler Group LP now owns 12,151 shares of the company’s stock worth $144,000 after buying an additional 4,669 shares in the last quarter. Skyline Asset Management LP boosted its position in Ferro Corp. by 3.8% in the first quarter. Skyline Asset Management LP now owns 1,889,600 shares of the company’s stock worth $22,430,000 after buying an additional 69,000 shares in the last quarter. Springbok Capital Management LLC boosted its position in Ferro Corp. by 941.7% in the first quarter. Springbok Capital Management LLC now owns 19,000 shares of the company’s stock worth $226,000 after buying an additional 17,176 shares in the last quarter. Finally, Brigade Capital Management LP boosted its position in Ferro Corp. by 8.5% in the first quarter. Brigade Capital Management LP now owns 2,560,396 shares of the company’s stock worth $30,392,000 after buying an additional 200,000 shares in the last quarter. 90.09% of the stock is owned by hedge funds and other institutional investors.
Ferro Corp. (NYSE:FOE) traded up 1.86% during midday trading on Monday, reaching $13.72. 434,356 shares of the company’s stock traded hands. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 21.30 and a beta of 1.89. The firm’s 50-day moving average is $13.21 and its 200-day moving average is $13.18. Ferro Corp. has a 1-year low of $8.47 and a 1-year high of $14.88.
Ferro Corp. (NYSE:FOE) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.07. Ferro Corp. had a net margin of 4.96% and a return on equity of 26.92%. The firm earned $297.97 million during the quarter, compared to analysts’ expectations of $304 million. During the same period last year, the business earned $0.20 earnings per share. Ferro Corp.’s revenue was up 11.1% compared to the same quarter last year. Analysts forecast that Ferro Corp. will post $1.05 earnings per share for the current year.
A number of research firms recently commented on FOE. Zacks Investment Research raised shares of Ferro Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Tuesday, July 12th. TheStreet raised shares of Ferro Corp. from a “hold” rating to a “buy” rating in a research note on Monday, August 8th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Ferro Corp. in a research note on Tuesday, July 19th.
Ferro Corp. Company Profile
Ferro Corporation (Ferro) produces performance materials for a range of manufacturers in diversified industries throughout the world. The Company uses inorganic and organic chemical processes, polymer science and materials science to develop and produce these performance materials. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides.
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