Rhumbline Advisers lifted its stake in shares of Ferro Co. (NYSE:FOE) by 2.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 248,031 shares of the specialty chemicals company’s stock after buying an additional 6,420 shares during the quarter. Rhumbline Advisers’ holdings in Ferro were worth $2,942,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Macquarie Group Ltd. acquired a new position in shares of Ferro during the second quarter worth about $37,981,000. Teton Advisors Inc. increased its stake in Ferro by 1.1% in the second quarter. Teton Advisors Inc. now owns 1,155,493 shares of the specialty chemicals company’s stock valued at $18,257,000 after purchasing an additional 12,015 shares during the last quarter. Northern Trust Corp raised its holdings in Ferro by 1.7% during the second quarter. Northern Trust Corp now owns 1,112,622 shares of the specialty chemicals company’s stock worth $17,579,000 after purchasing an additional 18,644 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Ferro by 386.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 658,438 shares of the specialty chemicals company’s stock worth $10,403,000 after buying an additional 523,047 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Ferro by 9.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 564,328 shares of the specialty chemicals company’s stock worth $8,917,000 after buying an additional 47,941 shares during the last quarter. 99.77% of the stock is owned by institutional investors and hedge funds.
In other news, General Counsel Mark Hugo Duesenberg sold 35,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $10.69, for a total value of $374,150.00. Following the completion of the sale, the general counsel now directly owns 232,863 shares of the company’s stock, valued at approximately $2,489,305.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Benjamin Schlater sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $11.53, for a total value of $28,825.00. Following the completion of the sale, the chief financial officer now directly owns 22,555 shares of the company’s stock, valued at $260,059.15. The disclosure for this sale can be found here. 2.71% of the stock is currently owned by insiders.
A number of research analysts recently commented on FOE shares. Wells Fargo & Co started coverage on shares of Ferro in a research report on Tuesday, October 15th. They issued a “market perform” rating and a $12.00 target price on the stock. Buckingham Research reduced their price target on shares of Ferro from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. ValuEngine downgraded shares of Ferro from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. BMO Capital Markets decreased their price objective on shares of Ferro to $15.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Finally, Zacks Investment Research raised Ferro from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $16.83.
Ferro Corporation produces specialty materials in the United States and internationally. It operates through three segments: Performance Coatings, 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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