Metropolitan Life Insurance Co. NY Boosts Position in Ferro Corporation (FOE)

Metropolitan Life Insurance Co. NY raised its position in Ferro Corporation (NYSE:FOE) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,315 shares of the specialty chemicals company’s stock after buying an additional 1,064 shares during the period. Metropolitan Life Insurance Co. NY owned approximately 0.07% of Ferro Corporation worth $886,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in Ferro Corporation by 14.7% in the first quarter. Envestnet Asset Management Inc. now owns 13,867 shares of the specialty chemicals company’s stock valued at $211,000 after buying an additional 1,782 shares during the last quarter. American International Group Inc. raised its stake in Ferro Corporation by 7.1% in the first quarter. American International Group Inc. now owns 51,254 shares of the specialty chemicals company’s stock valued at $779,000 after buying an additional 3,386 shares during the last quarter. Balter Liquid Alternatives LLC raised its stake in Ferro Corporation by 1.8% in the first quarter. Balter Liquid Alternatives LLC now owns 196,052 shares of the specialty chemicals company’s stock valued at $2,978,000 after buying an additional 3,410 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Ferro Corporation by 6.1% in the first quarter. Parametric Portfolio Associates LLC now owns 104,464 shares of the specialty chemicals company’s stock valued at $1,587,000 after buying an additional 5,996 shares during the last quarter. Finally, Foresters Investment Management Company Inc. raised its stake in Ferro Corporation by 0.7% in the first quarter. Foresters Investment Management Company Inc. now owns 901,700 shares of the specialty chemicals company’s stock valued at $13,697,000 after buying an additional 6,400 shares during the last quarter. 96.39% of the stock is currently owned by institutional investors and hedge funds.

Ferro Corporation (NYSE FOE) opened at 18.76 on Friday. The firm’s 50-day moving average is $18.82 and its 200-day moving average is $16.66. The stock has a market cap of $1.57 billion, a P/E ratio of 133.05 and a beta of 2.02. Ferro Corporation has a 1-year low of $12.35 and a 1-year high of $20.34.

Ferro Corporation (NYSE:FOE) last released its quarterly earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.04. Ferro Corporation had a net margin of 1.06% and a return on equity of 35.05%. The company had revenue of $348.60 million for the quarter, compared to analyst estimates of $336.14 million. During the same quarter last year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, analysts forecast that Ferro Corporation will post $1.27 EPS for the current year.

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A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Ferro Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Friday. BidaskClub upgraded shares of Ferro Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Longbow Research upgraded shares of Ferro Corporation from a “neutral” rating to a “buy” rating and set a $22.00 target price for the company in a report on Monday, June 5th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $19.00 price target (up previously from $16.00) on shares of Ferro Corporation in a research note on Monday, May 1st. Finally, TheStreet raised shares of Ferro Corporation from a “c” rating to a “b” rating in a research report on Thursday, April 27th. Six equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $20.40.

Ferro Corporation Company Profile

Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel. Its manufacturers make products for various end-use markets.

Institutional Ownership by Quarter for Ferro Corporation (NYSE:FOE)

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