Ferro Co. (FOE) CFO Benjamin Schlater Sells 12,663 Shares

Ferro Co. (NYSE:FOE) CFO Benjamin Schlater sold 12,663 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $23.50, for a total transaction of $297,580.50. Following the completion of the transaction, the chief financial officer now directly owns 6,495 shares of the company’s stock, valued at approximately $152,632.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Ferro Co. (NYSE FOE) traded down $0.01 during mid-day trading on Thursday, reaching $23.40. 390,200 shares of the company’s stock traded hands, compared to its average volume of 517,233. The stock has a market cap of $1,963.10, a PE ratio of 18.29 and a beta of 1.90. Ferro Co. has a 1-year low of $13.55 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.

Ferro (NYSE:FOE) last announced its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The business had revenue of $350.01 million for the quarter, compared to analysts’ expectations of $332.28 million. Ferro had a net margin of 3.44% and a return on equity of 35.77%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 EPS. research analysts forecast that Ferro Co. will post 1.29 EPS for the current fiscal year.

Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Ferro from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Longbow Research reaffirmed a “buy” rating and issued a $24.00 target price (up previously from $22.00) on shares of Ferro in a report on Wednesday, August 23rd. KeyCorp reaffirmed an “overweight” rating on shares of Ferro in a report on Friday, November 10th. Finally, ValuEngine downgraded shares of Ferro from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Seven research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $23.60.

A number of hedge funds have recently made changes to their positions in the business. Algert Global LLC purchased a new stake in Ferro in the 3rd quarter worth $2,233,000. Insight Capital Research & Management Inc. purchased a new stake in shares of Ferro during the 3rd quarter valued at about $1,438,000. Neuberger Berman Group LLC purchased a new stake in shares of Ferro during the 3rd quarter valued at about $401,000. Argent Capital Management LLC raised its position in shares of Ferro by 8.8% during the 3rd quarter. Argent Capital Management LLC now owns 188,405 shares of the specialty chemicals company’s stock valued at $4,201,000 after buying an additional 15,310 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Ferro by 3.9% during the 3rd quarter. California Public Employees Retirement System now owns 191,450 shares of the specialty chemicals company’s stock valued at $4,269,000 after buying an additional 7,250 shares in the last quarter. Institutional investors and hedge funds own 97.85% of the company’s stock.

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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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