Ferro Co. (FOE) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its holdings in Ferro Co. (NYSE:FOE) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,402,299 shares of the specialty chemicals company’s stock after purchasing an additional 72,976 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.09% of Ferro worth $53,349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. purchased a new position in Ferro in the fourth quarter valued at about $8,032,000. Massachusetts Financial Services Co. MA increased its position in Ferro by 21.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,684,356 shares of the specialty chemicals company’s stock valued at $42,091,000 after acquiring an additional 467,836 shares during the period. Luminus Management LLC increased its position in Ferro by 14.3% in the 3rd quarter. Luminus Management LLC now owns 3,043,536 shares of the specialty chemicals company’s stock valued at $70,671,000 after acquiring an additional 380,499 shares during the period. FMR LLC increased its position in shares of Ferro by 19.6% during the 3rd quarter. FMR LLC now owns 2,122,620 shares of the specialty chemicals company’s stock valued at $49,287,000 after purchasing an additional 347,555 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Ferro by 10.2% during the 4th quarter. Jennison Associates LLC now owns 3,596,256 shares of the specialty chemicals company’s stock valued at $56,389,000 after purchasing an additional 333,140 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

In related news, CFO Benjamin Schlater sold 7,419 shares of Ferro stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $20.83, for a total transaction of $154,537.77. Following the completion of the transaction, the chief financial officer now owns 33,107 shares of the company’s stock, valued at $689,618.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.71% of the stock is currently owned by company insiders.

Several research firms have recently weighed in on FOE. Zacks Investment Research raised Ferro from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective for the company in a research note on Friday, January 4th. Deutsche Bank dropped 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. KeyCorp decreased their target price on Ferro from $26.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. ValuEngine raised Ferro from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 29th. Finally, BMO Capital Markets downgraded Ferro from an “outperform” rating to a “market perform” rating and set a $18.83 target price on the stock. in a report on Monday, April 1st. Two equities 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 stock presently has an average rating of “Hold” and an average target price of $20.17.

Shares of FOE stock traded down $0.24 on Friday, reaching $18.32. The stock had a trading volume of 480,049 shares, compared to its average volume of 1,320,360. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.08 and a beta of 1.79. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.37 and a current ratio of 2.30. Ferro Co. has a 12 month low of $14.59 and a 12 month high of $24.46.

Ferro (NYSE:FOE) last announced its earnings results on Wednesday, February 27th. The specialty chemicals company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03. Ferro had a net margin of 4.97% and a return on equity of 32.99%. The company had revenue of $395.50 million for the quarter, compared to analysts’ expectations of $389.36 million. During the same period last year, the firm earned $0.29 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts predict that Ferro Co. will post 1.51 EPS for the current fiscal year.

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Ferro Profile

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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Institutional Ownership by Quarter for Ferro (NYSE:FOE)

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