Intrust Bank NA Acquires 3,696 Shares of Ferro Co. (NYSE:FOE)

Intrust Bank NA grew its stake in shares of Ferro Co. (NYSE:FOE) by 39.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,104 shares of the specialty chemicals company’s stock after acquiring 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 quarter.

A number of other hedge funds also recently modified their holdings of FOE. JPMorgan Chase & Co. grew its stake in shares of Ferro by 4.6% during the third quarter. JPMorgan Chase & Co. now owns 1,581,662 shares of the specialty chemicals company’s stock worth $35,112,000 after buying an additional 69,335 shares during the last quarter. Insight Capital Research & Management Inc. bought a new stake in shares of Ferro in the third quarter worth $1,438,000. Algert Global LLC bought a new stake in shares of Ferro in the third quarter worth $2,233,000. Copper Rock Capital Partners LLC grew its stake in shares of Ferro by 3.6% in the fourth quarter. Copper Rock Capital Partners LLC now owns 1,529,897 shares of the specialty chemicals company’s stock worth $36,044,000 after purchasing an additional 53,066 shares during the last quarter. Finally, Wasatch Advisors Inc. grew its stake in shares of Ferro by 16.2% in the third quarter. Wasatch Advisors Inc. now owns 133,648 shares of the specialty chemicals company’s stock worth $2,980,000 after purchasing an additional 18,648 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.

Several equities analysts recently issued reports on FOE shares. Zacks Investment Research upgraded shares of Ferro from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Thursday, January 11th. KeyCorp reiterated an “overweight” rating on shares of Ferro in a report on Friday, November 10th. Finally, ValuEngine lowered shares of Ferro from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $23.80.

Shares of Ferro Co. (FOE) traded up $0.09 during mid-day trading on Friday, hitting $22.28. 40,346 shares of the company were exchanged, compared to its average volume of 386,859. Ferro Co. has a 12 month low of $13.56 and a 12 month high of $25.50. The company has a quick ratio of 1.53, a current ratio of 2.48 and a debt-to-equity ratio of 1.94. The stock has a market cap of $1,845.70, a PE ratio of 17.19 and a beta of 1.72.

In related news, CFO Benjamin Schlater sold 12,663 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $23.50, for a total transaction of $297,580.50. Following the transaction, the chief financial officer now owns 6,495 shares of the company’s stock, valued at approximately $152,632.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Mark Hugo Duesenberg sold 17,000 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $24.76, for a total transaction of $420,920.00. Following the transaction, the general counsel now directly owns 137,545 shares in the company, valued at approximately $3,405,614.20. The disclosure for this sale can be found here. Insiders sold a total of 143,246 shares of company stock worth $3,396,897 over the last quarter. Corporate insiders own 2.02% of the company’s stock.

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Ferro 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.

Institutional Ownership by Quarter for Ferro (NYSE:FOE)

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