Dimensional Fund Advisors LP boosted its position in shares of Ferro Corp. (NYSE:FOE) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,216,158 shares of the company’s stock after buying an additional 165,106 shares during the period. Dimensional Fund Advisors LP owned 3.86% of Ferro Corp. worth $43,031,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its stake in shares of Ferro Corp. by 5.0% in the second quarter. Jennison Associates LLC now owns 4,272,797 shares of the company’s stock worth $57,170,000 after buying an additional 204,599 shares during the period. Gabelli Funds LLC increased its stake in shares of Ferro Corp. by 1.6% in the second quarter. Gabelli Funds LLC now owns 4,266,000 shares of the company’s stock worth $57,079,000 after buying an additional 67,000 shares during the period. Brigade Capital Management LP increased its stake in shares of Ferro Corp. by 8.5% in the first quarter. Brigade Capital Management LP now owns 2,560,396 shares of the company’s stock worth $30,392,000 after buying an additional 200,000 shares during the period. Skyline Asset Management LP increased its stake in shares of Ferro Corp. by 3.8% in the first quarter. Skyline Asset Management LP now owns 1,889,600 shares of the company’s stock worth $22,430,000 after buying an additional 69,000 shares during the period. Finally, Boston Partners bought a new stake in shares of Ferro Corp. during the second quarter worth about $22,691,000. Institutional investors own 90.09% of the company’s stock.
Ferro Corp. (NYSE:FOE) opened at 12.88 on Friday. The firm has a 50-day moving average price of $13.22 and a 200 day moving average price of $13.22. Ferro Corp. has a 52-week low of $8.47 and a 52-week high of $14.88. The firm has a market capitalization of $1.07 billion, a P/E ratio of 20.00 and a beta of 1.89.
Ferro Corp. (NYSE:FOE) last posted its earnings results on Thursday, July 28th. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.07. The company had revenue of $297.97 million for the quarter, compared to analyst estimates of $304 million. Ferro Corp. had a return on equity of 26.92% and a net margin of 4.96%. Ferro Corp.’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. Analysts forecast that Ferro Corp. will post $1.05 EPS for the current year.
A number of analysts recently issued reports on the company. Zacks Investment Research downgraded Ferro Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. TheStreet raised Ferro Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Ferro Corp. in a research report on Tuesday, July 19th.
About Ferro Corp.
Ferro Corporation (Ferro) produces performance materials for a range of manufacturers in diversified industries throughout the world. The Company uses inorganic and organic chemical processes, polymer science and materials science to develop and produce these performance materials. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides.
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