Dimensional Fund Advisors LP increased its stake in Ferro Co. (NYSE:FOE) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,290,592 shares of the company’s stock after buying an additional 8,073 shares during the period. Dimensional Fund Advisors LP’s holdings in Ferro were worth $47,155,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its position in Ferro by 3.6% in the fourth quarter. State Street Corp now owns 1,468,202 shares of the company’s stock valued at $21,036,000 after buying an additional 50,511 shares during the period. Pitcairn Co. bought a new position in Ferro during the fourth quarter valued at approximately $211,000. Artemis Investment Management LLP bought a new position in Ferro during the fourth quarter valued at approximately $7,045,000. Cornercap Investment Counsel Inc. bought a new position in Ferro during the fourth quarter valued at approximately $625,000. Finally, Phocas Financial Corp. increased its position in Ferro by 98.0% in the third quarter. Phocas Financial Corp. now owns 671,269 shares of the company’s stock valued at $9,270,000 after buying an additional 332,243 shares during the period. 97.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ferro Co. (NYSE:FOE) opened at 14.26 on Tuesday. Ferro Co. has a 52 week low of $11.42 and a 52 week high of $16.17. The company’s 50-day moving average price is $14.13 and its 200 day moving average price is $14.04. The company’s market cap is $1.19 billion.
Ferro (NYSE:FOE) last released its quarterly earnings results on Wednesday, March 1st. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.06. The company earned $281.30 million during the quarter, compared to analysts’ expectations of $279.25 million. Ferro had a net margin of 4.49% and a return on equity of 27.35%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. Equities research analysts anticipate that Ferro Co. will post $1.17 earnings per share for the current fiscal year.
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Several research analysts have recently commented on the company. KeyCorp reaffirmed an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Ferro in a research note on Monday, March 6th. Zacks Investment Research raised Ferro from a “sell” rating to a “hold” rating in a research note on Thursday, March 2nd.
Ferro Company Profile
Ferro Corporation (Ferro) produces performance materials for a range of manufacturers in diversified industries throughout the world. The Company uses inorganic and organic chemical processes, polymer science and materials science to develop and produce these performance materials. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides.
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