It is trading at $23.82 which is slightly above the 50 day moving average of $22.47 and well above the 200 day moving average of $19.28. The 50 day moving average was up $1.35 whereas the 200 day average was up by +23.52%. Trading was light with 440K shares changing hands on Tuesday. Overall, volume was down 10.51% under the stocks normal daily volume.
Short traders are more bearish on shares of Ferro Corporation lately if you take into consideration the change in short interest. The firm had a rise in short interest of 19.93% as of October 13, 2017 from the last reporting period. Short shares grew 233,350 over that timeframe. Days to cover increased 1.0 to 3.0 and the percentage of shorted shares was 0.02% on October 13.
These funds have shifted positions in (FOE). First Trust Advisors Lp expanded its position by buying 81,851 shares an increase of 90.6% as of 09/30/2017. First Trust Advisors Lp controls 172,159 shares valued at $3,839,000. The total value of its holdings increased 132.4%. Northpointe Capital LLC bolstered its investment by buying 1,728 shares an increase of 0.4%. Northpointe Capital LLC now controls 386,110 shares with a value of $8,610,000. The value of the position overall is up by 22.5%.
As of quarter end Huntington National Bank had sold a total of 9 shares trimming its position 4.3%. The value of the investment in Ferro Corporation decreased from $4,000 to $4,000 decreasing 0.0% since the last quarter. As of the end of the quarter Parkside Financial Bank & Trust had disposed of 107 shares trimming its stake by 10.7%. The value in dollars went from $18,000 to $20,000 a change of 11.1% quarter to quarter.
On July 31 Deutsche Bank left the company rating at “Buy” but moved up the price target to $22.00 from $13.00. October 13 investment analysts at KeyBanc maintained a company rating of “Buy” and raised the price expectation from $20.00 to $27.00.
Ferro Corporation currently has a P/E ratio of 168.94 and the market value is 1.99B. In the last earnings report the EPS was $0.14 and is projected to be $1.27 for the current year with 83,694,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.29 and the next full year EPS is 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..