Affinity Investment Advisors LLC increased its holdings in Ferro Co. (NYSE:FOE) by 26.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,859 shares of the specialty chemicals company’s stock after purchasing an additional 4,339 shares during the period. Affinity Investment Advisors LLC’s holdings in Ferro were worth $484,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Polaris Capital Management LLC raised its holdings in shares of Ferro by 41.3% during the third quarter. Polaris Capital Management LLC now owns 146,835 shares of the specialty chemicals company’s stock worth $3,410,000 after acquiring an additional 42,900 shares during the period. BlackRock Inc. increased its stake in Ferro by 0.3% in the 3rd quarter. BlackRock Inc. now owns 5,740,439 shares of the specialty chemicals company’s stock valued at $133,293,000 after buying an additional 16,055 shares during the last quarter. LaSalle Street Capital Management LLC increased its stake in Ferro by 23.8% in the 3rd quarter. LaSalle Street Capital Management LLC now owns 60,364 shares of the specialty chemicals company’s stock valued at $1,402,000 after buying an additional 11,612 shares during the last quarter. Chartwell Investment Partners LLC increased its stake in Ferro by 5.2% in the 3rd quarter. Chartwell Investment Partners LLC now owns 90,060 shares of the specialty chemicals company’s stock valued at $2,091,000 after buying an additional 4,470 shares during the last quarter. Finally, Wasatch Advisors Inc. increased its stake in Ferro by 64.2% in the 3rd quarter. Wasatch Advisors Inc. now owns 228,258 shares of the specialty chemicals company’s stock valued at $5,300,000 after buying an additional 89,219 shares during the last quarter. Hedge funds and other institutional investors own 98.00% of the company’s stock.
In other Ferro news, CFO Benjamin Schlater sold 5,426 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $19.53, for a total value of $105,969.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Barna sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $19.08, for a total transaction of $143,100.00. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.
Ferro (NYSE:FOE) last released its quarterly earnings data on Thursday, November 8th. The specialty chemicals company reported $0.37 earnings per share (EPS) 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 analyst estimates of $400.74 million. Ferro had a return on equity of 32.74% and a net margin of 3.79%. Ferro’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. On average, research analysts forecast that Ferro Co. will post 1.55 earnings per share for the current year.
Several equities research analysts have issued reports on FOE shares. Gabelli reiterated a “buy” rating on shares of Ferro in a research note on Friday, July 27th. Zacks Investment Research raised shares of Ferro from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. ValuEngine downgraded shares of Ferro from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Finally, Deutsche Bank reduced their target price on shares of Ferro from $26.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $26.00.
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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