Intrust Bank NA grew its stake in Ferro Co. (NYSE:FOE) by 39.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,104 shares of the specialty chemicals company’s stock after buying an additional 3,696 shares during the period. Intrust Bank NA’s holdings in Ferro were worth $309,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Ferro in the 4th quarter valued at $211,000. Prudential Financial Inc. acquired a new position in shares of Ferro in the 3rd quarter valued at $217,000. Campbell Newman Asset Management Inc. boosted its holdings 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 in the last quarter. Sheets Smith Wealth Management acquired a new position in shares of Ferro in the 4th quarter valued at $331,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Ferro in the 3rd quarter valued at $344,000. Institutional investors and hedge funds own 93.63% of the company’s stock.
Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Ferro from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research cut shares of Ferro from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, KeyCorp restated an “overweight” rating on shares of Ferro in a report on Friday, November 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $23.80.
In related news, insider James Barna sold 12,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $23.37, for a total transaction of $280,440.00. Following the completion of the sale, the insider now owns 8,428 shares in the company, valued at approximately $196,962.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Benjamin Schlater sold 12,663 shares of the 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 sale, the chief financial officer now owns 6,495 shares of the company’s stock, valued at approximately $152,632.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,246 shares of company stock valued at $3,396,897. 2.02% of the stock is owned by company insiders.
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Ferro Company Profile
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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