Company shares last traded at $23.57 barely above $21.83, the stock’s 50 day moving average and significantly above the 200 day moving average of $18.95. The 50 day moving average was up $1.74 or +7.97% whereas the 200 day moving average was up $4.62 or +24.39%. Trading volume for Ferro Corporation was 566K on Tuesday. Trading volume was down 32.76% under the stocks average daily volume.
Short traders are feeling a little more bullish of late if you look at the decrease in short interest. The firm recorded a fall in short interest of -26.57% between September 15, 2017 and September 29, 2017. Short interest fell 423,665 over that period. The days to cover decreased to 2.0 and the short interest percentage is 0.01% as of September 29.
Here are a few substantial investment firms who have updated their positions. As of quarter end Copper Rock Capital Partners, LLC had sold a total of 52,531 shares trimming its stake by 3.4%. The value of the investment in (FOE) increased from $27,483,000 to $32,786,000 increasing 19.3% quarter to quarter. As of the end of the quarter Cutler Group LP had disposed of 4,200 shares trimming its holdings by 97.7%. The value of the total investment in Ferro Corporation went from $14,000 to $0 a change of 100.0% quarter over quarter.
Balter Liquid Alternatives, LLC downsized its ownership by shedding 54,785 shares a decrease of 32.7% from 06/30/2017 to 09/30/2017. Balter Liquid Alternatives, LLC controls 112,914 shares worth $2,518,000. The value of the position overall is down by 17.9%. As of quarter end Mutual Of America Capital Management LLC had bought a total of 4,055 shares growing its position 0.7%. The value of the investment in Ferro Corporation went from $10,130,000 to $12,441,000 a change of $2,311,000 for the reporting period.
On July 31 Deutsche Bank held the company rating at “Buy” and raised the price target from $13.00 to $22.00. October 13 investment analysts at KeyBanc maintained a company rating of “Buy” but raised the price target to $27.00 from $20.00.
The company currently has a P/E ratio of 167.16 and the market cap of the company is 1.97B. In the last earnings report the EPS was $0.14 and is estimated to be $1.27 for the current year with 83,694,000 shares outstanding. Next quarter’s EPS is forecasted at $0.29 with next year’s EPS anticipated to be $1.48.
Ferro Corporation (Ferro), launched on October 13, 1919, produces specialty materials that are sold to a range of manufacturers. The Business’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..