Glenmede Trust Co. NA increased its stake in shares of Ferro Co. (NYSE:FOE) by 19.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,629,296 shares of the specialty chemicals company’s stock after purchasing an additional 265,202 shares during the quarter. Glenmede Trust Co. NA owned 1.94% of Ferro worth $33,970,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Putnam Investments LLC boosted its holdings in Ferro by 125.3% during the 2nd quarter. Putnam Investments LLC now owns 329,635 shares of the specialty chemicals company’s stock valued at $6,873,000 after acquiring an additional 183,345 shares during the period. MetLife Investment Advisors LLC boosted its holdings in Ferro by 7.6% during the 2nd quarter. MetLife Investment Advisors LLC now owns 38,898 shares of the specialty chemicals company’s stock valued at $811,000 after acquiring an additional 2,753 shares during the period. Luminus Management LLC boosted its holdings in Ferro by 52.9% during the 2nd quarter. Luminus Management LLC now owns 2,663,037 shares of the specialty chemicals company’s stock valued at $55,525,000 after acquiring an additional 921,179 shares during the period. FMR LLC lifted its holdings in shares of Ferro by 10.0% in the 2nd quarter. FMR LLC now owns 1,775,065 shares of the specialty chemicals company’s stock worth $37,010,000 after buying an additional 160,639 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Ferro by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,330,616 shares of the specialty chemicals company’s stock worth $69,443,000 after buying an additional 16,771 shares during the period. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

In related news, General Counsel Mark Hugo Duesenberg sold 11,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $22.49, for a total transaction of $247,390.00. Following the transaction, the general counsel now directly owns 179,631 shares of the company’s stock, valued at approximately $4,039,901.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.26% of the company’s stock.

Several equities research analysts have weighed in on FOE shares. ValuEngine cut Ferro from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded Ferro from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, Gabelli reiterated a “buy” rating on shares of Ferro in a report on Friday, July 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.00.

Shares of NYSE FOE traded down $0.74 during mid-day trading on Friday, reaching $18.60. 1,884,851 shares of the company were exchanged, compared to its average volume of 420,944. The company has a debt-to-equity ratio of 2.12, a current ratio of 2.67 and a quick ratio of 1.56. The stock has a market capitalization of $1.95 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 0.94 and a beta of 1.70. Ferro Co. has a 1 year low of $18.55 and a 1 year high of $25.50.

Ferro (NYSE:FOE) last announced its earnings results on Wednesday, July 25th. The specialty chemicals company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Ferro had a return on equity of 32.63% and a net margin of 4.34%. The company had revenue of $416.20 million for the quarter, compared to analyst estimates of $418.06 million. During the same period in the prior year, the company posted $0.37 EPS. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Ferro Co. will post 1.59 earnings per share for the current fiscal year.

About Ferro

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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