Louisiana State Employees Retirement System Reduces Position in Ferro Co. (NYSE:FOE)

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Louisiana State Employees Retirement System lessened its holdings in shares of Ferro Co. (NYSE:FOE) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,500 shares of the specialty chemicals company’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Ferro were worth $459,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Chartwell Investment Partners LLC raised its stake in shares of Ferro by 0.6% during the first quarter. Chartwell Investment Partners LLC now owns 109,860 shares of the specialty chemicals company’s stock valued at $2,080,000 after acquiring an additional 670 shares in the last quarter. White Pine Capital LLC raised its stake in shares of Ferro by 1.7% during the first quarter. White Pine Capital LLC now owns 44,035 shares of the specialty chemicals company’s stock valued at $834,000 after acquiring an additional 750 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Ferro by 1.5% during the first quarter. Bank of Montreal Can now owns 78,527 shares of the specialty chemicals company’s stock valued at $1,487,000 after acquiring an additional 1,165 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Ferro by 3.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 39,370 shares of the specialty chemicals company’s stock valued at $617,000 after acquiring an additional 1,351 shares in the last quarter. Finally, LS Investment Advisors LLC bought a new stake in shares of Ferro during the first quarter valued at approximately $47,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

In related news, Director David A. Lorber purchased 2,500 shares of Ferro stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average price of $15.51 per share, for a total transaction of $38,775.00. Following the transaction, the director now directly owns 22,000 shares in the company, valued at $341,220. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Peter T. Thomas purchased 17,000 shares of Ferro stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average price of $15.92 per share, with a total value of $270,640.00. Following the transaction, the chief executive officer now owns 677,956 shares in the company, valued at $10,793,059.52. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 24,500 shares of company stock valued at $387,490. Insiders own 2.71% of the company’s stock.

Shares of Ferro stock opened at $12.12 on Tuesday. The stock has a 50-day moving average price of $14.89. The firm has a market capitalization of $1.02 billion, a P/E ratio of 9.84, a P/E/G ratio of 1.10 and a beta of 1.92. Ferro Co. has a fifty-two week low of $11.94 and a fifty-two week high of $23.88. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.49 and a current ratio of 2.58.

Ferro (NYSE:FOE) last issued its quarterly earnings data on Tuesday, July 30th. The specialty chemicals company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $393.90 million during the quarter, compared to the consensus estimate of $415.39 million. Ferro had a net margin of 3.28% and a return on equity of 27.77%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. As a group, sell-side analysts expect that Ferro Co. will post 1.21 earnings per share for the current fiscal year.

Several analysts have recently weighed in on FOE shares. ValuEngine downgraded shares of Ferro from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Buckingham Research downgraded shares of Ferro from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $21.00 to $16.00 in a research note on Thursday, August 1st. TheStreet downgraded Ferro from a “b-” rating to a “c+” rating in a research report on Wednesday, May 29th. Finally, Zacks Investment Research raised Ferro from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $19.37.

Ferro Company Profile

Ferro Corporation produces specialty materials in the United States and internationally. It operates through three segments: Performance Coatings, 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.

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Institutional Ownership by Quarter for Ferro (NYSE:FOE)

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