Ferro (NYSE:FOE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, January 3rd.

According to Zacks, “FERRO CORP. is a worldwide producer of specialty materials for industry by organic and inorganic chemistry. It operates in 21 countries worldwide. Ferro produces a variety of specialty coatings, colors, ceramics, plastics, chemicals, and related products and services. Ferro’s most important product is frit produced for use in porcelain enamels and ceramic glazes. Ferro specialty materials require a high degree of technical service on an individual customer basis. “

Other equities research analysts have also recently issued research reports about the stock. KeyCorp reissued an “overweight” rating on shares of Ferro in a report on Friday, November 10th. ValuEngine cut shares of Ferro from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.80.

Ferro (NYSE:FOE) traded down $0.34 during trading hours on Wednesday, hitting $23.66. 76,419 shares of the company were exchanged, compared to its average volume of 376,033. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.48 and a quick ratio of 1.53. The company has a market cap of $2,053.67, a PE ratio of 44.47 and a beta of 1.94. Ferro has a 52 week low of $13.55 and a 52 week high of $25.50.

Ferro (NYSE:FOE) last posted its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Ferro had a net margin of 3.44% and a return on equity of 35.77%. The company had revenue of $350.01 million for the quarter, compared to analysts’ expectations of $332.28 million. During the same quarter in the previous year, the firm posted $0.27 EPS. Ferro’s revenue was up 21.3% on a year-over-year basis. sell-side analysts anticipate that Ferro will post 1.29 EPS for the current year.

In other news, General Counsel Mark Hugo Duesenberg sold 17,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $24.76, for a total value of $420,920.00. Following the transaction, the general counsel now owns 137,545 shares of the company’s stock, valued at $3,405,614.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marran H. Ogilvie bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average price of $23.60 per share, with a total value of $47,200.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 177,428 shares of company stock worth $4,192,872. Insiders own 2.02% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Amalgamated Bank grew its position in Ferro by 5.5% in the second quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock worth $197,000 after acquiring an additional 564 shares in the last quarter. Intrust Bank NA purchased a new position in Ferro in the third quarter worth $210,000. SG Americas Securities LLC purchased a new position in Ferro in the fourth quarter worth $211,000. Principal Financial Group Inc. grew its position in Ferro by 1.0% in the second quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock worth $213,000 after acquiring an additional 120 shares in the last quarter. Finally, Airain ltd purchased a new position in Ferro in the second quarter worth $214,000. Institutional investors own 97.70% of the company’s stock.

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About Ferro

Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.

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