Ferro Co. (FOE) Position Boosted by Bank of Montreal Can

Bank of Montreal Can lifted its position in shares of Ferro Co. (NYSE:FOE) by 24.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 83,849 shares of the specialty chemicals company’s stock after buying an additional 16,514 shares during the quarter. Bank of Montreal Can’s holdings in Ferro were worth $1,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Ferro by 8.1% during the second quarter. BlackRock Inc. now owns 5,724,384 shares of the specialty chemicals company’s stock valued at $119,353,000 after buying an additional 428,281 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Ferro by 28.6% during the second quarter. Victory Capital Management Inc. now owns 4,240,552 shares of the specialty chemicals company’s stock valued at $88,417,000 after buying an additional 942,354 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Ferro by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,330,616 shares of the specialty chemicals company’s stock valued at $69,443,000 after buying an additional 16,771 shares during the period. Luminus Management LLC lifted its stake in shares of Ferro by 52.9% during the second quarter. Luminus Management LLC now owns 2,663,037 shares of the specialty chemicals company’s stock valued at $55,525,000 after buying an additional 921,179 shares during the period. Finally, FMR LLC lifted its stake in shares of Ferro by 10.0% during the second quarter. FMR LLC now owns 1,775,065 shares of the specialty chemicals company’s stock valued at $37,010,000 after buying an additional 160,639 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

NYSE:FOE opened at $18.50 on Friday. The company has a current ratio of 2.67, a quick ratio of 1.56 and a debt-to-equity ratio of 2.12. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 0.73 and a beta of 1.70. Ferro Co. has a fifty-two week low of $15.59 and a fifty-two week high of $25.50.

Ferro (NYSE:FOE) last posted its quarterly earnings results on Thursday, November 8th. The specialty chemicals company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). The company had revenue of $395.16 million for the quarter, compared to analysts’ expectations of $400.74 million. Ferro had a return on equity of 32.63% and a net margin of 4.34%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. On average, equities analysts predict that Ferro Co. will post 1.59 earnings per share for the current fiscal year.

FOE has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Ferro from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Tuesday, August 14th. Gabelli reaffirmed a “buy” rating on shares of Ferro in a research note on Friday, July 27th. Finally, ValuEngine downgraded shares of Ferro from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $27.00.

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Ferro Company Profile

Ferro Corporation produces specialty materials in the United States and internationally. It operates through four business units: Tile Coating Systems; Porcelain Enamel; 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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