Polaris Capital Management LLC continued to hold its position in Ferro Corporation (NYSE:FOE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 188,035 shares of the specialty chemicals company’s stock at the close of the 2nd quarter. Polaris Capital Management LLC owned 0.22% of Ferro Corporation worth $3,439,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in FOE. JPMorgan Chase & Co. increased its stake in Ferro Corporation by 2,372.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,512,327 shares of the specialty chemicals company’s stock valued at $27,661,000 after purchasing an additional 1,451,149 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Ferro Corporation during the 2nd quarter valued at about $26,285,000. Paradice Investment Management LLC increased its stake in Ferro Corporation by 124.5% during the 2nd quarter. Paradice Investment Management LLC now owns 2,266,259 shares of the specialty chemicals company’s stock valued at $27,082,000 after purchasing an additional 1,256,703 shares in the last quarter. Wellington Management Group LLP increased its stake in Ferro Corporation by 88.9% during the 1st quarter. Wellington Management Group LLP now owns 1,960,691 shares of the specialty chemicals company’s stock valued at $29,782,000 after purchasing an additional 922,893 shares in the last quarter. Finally, Scopus Asset Management L.P. increased its stake in Ferro Corporation by 243.0% during the 1st quarter. Scopus Asset Management L.P. now owns 781,038 shares of the specialty chemicals company’s stock valued at $11,864,000 after purchasing an additional 553,338 shares in the last quarter. Institutional investors and hedge funds own 96.56% of the company’s stock.
Shares of Ferro Corporation (NYSE:FOE) traded up 2.06% during mid-day trading on Thursday, hitting $23.25. 271,656 shares of the stock were exchanged. Ferro Corporation has a 12 month low of $12.46 and a 12 month high of $23.28. The stock has a market cap of $1.95 billion, a PE ratio of 164.89 and a beta of 2.05. The stock’s 50 day moving average is $20.87 and its 200-day moving average is $18.44.
Ferro Corporation (NYSE:FOE) last posted its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.04. The firm had revenue of $348.60 million during the quarter, compared to analysts’ expectations of $336.14 million. Ferro Corporation had a return on equity of 35.05% and a net margin of 1.06%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. On average, analysts anticipate that Ferro Corporation will post $1.27 EPS for the current year.
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A number of research firms have weighed in on FOE. Zacks Investment Research lowered shares of Ferro Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. BidaskClub upgraded shares of Ferro Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Longbow Research restated a “buy” rating and set a $24.00 price objective (up from $22.00) on shares of Ferro Corporation in a research note on Wednesday, August 23rd. Finally, Deutsche Bank AG restated a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of Ferro Corporation in a research note on Monday, July 31st. Six investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $22.40.
About Ferro Corporation
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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