Insider Buying: Ferro Co. (FOE) Director Acquires 2,500 Shares of Stock

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Ferro Co. (NYSE:FOE) Director Allen A. Spizzo purchased 2,500 shares of the stock in a transaction dated Friday, May 17th. The shares were purchased at an average price of $15.33 per share, with a total value of $38,325.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $76,650. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of NYSE FOE traded down $0.49 during mid-day trading on Thursday, hitting $14.49. The company had a trading volume of 4,314 shares, compared to its average volume of 677,201. The stock has a market cap of $1.24 billion, a P/E ratio of 9.79, a PEG ratio of 1.15 and a beta of 1.73. The company has a current ratio of 2.55, a quick ratio of 1.47 and a debt-to-equity ratio of 2.34. Ferro Co. has a 1-year low of $14.59 and a 1-year high of $23.88.

Ferro (NYSE:FOE) last announced its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $387.50 million for the quarter, compared to analysts’ expectations of $396.60 million. Ferro had a return on equity of 30.06% and a net margin of 4.41%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. On average, equities analysts forecast that Ferro Co. will post 1.39 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its stake in Ferro by 177.6% in the first quarter. Rockefeller Capital Management L.P. now owns 1,524 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 975 shares in the last quarter. LS Investment Advisors LLC acquired a new stake in Ferro in the first quarter valued at $47,000. NumerixS Investment Technologies Inc acquired a new stake in Ferro in the fourth quarter valued at $49,000. Pinebridge Investments L.P. acquired a new stake in Ferro in the first quarter valued at $81,000. Finally, Quantamental Technologies LLC acquired a new stake in Ferro in the first quarter valued at $132,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

Several research analysts have recently commented on FOE shares. ValuEngine lowered Ferro from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Northcoast Research cut Ferro from a “buy” rating to a “neutral” rating in a research note on Monday, April 1st. BMO Capital Markets cut Ferro from an “outperform” rating to a “market perform” rating and set a $18.83 price objective on the stock. in a research note on Monday, April 1st. KeyCorp reduced their price objective on Ferro from $26.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Finally, Deutsche Bank reduced their price objective on Ferro from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $20.17.

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About Ferro

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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