Arizona State Retirement System Sells 866 Shares of Ferro Co. (NYSE:FOE)

Arizona State Retirement System lowered its stake in Ferro Co. (NYSE:FOE) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,468 shares of the specialty chemicals company’s stock after selling 866 shares during the quarter. Arizona State Retirement System’s holdings in Ferro were worth $314,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its holdings in Ferro by 8.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,762,537 shares of the specialty chemicals company’s stock valued at $71,455,000 after buying an additional 456,773 shares during the last quarter. Cooperman Leon G raised its holdings in Ferro by 3.1% in the 3rd quarter. Cooperman Leon G now owns 3,320,869 shares of the specialty chemicals company’s stock valued at $41,179,000 after buying an additional 100,000 shares during the last quarter. Morgan Stanley raised its holdings in Ferro by 7.7% in the 3rd quarter. Morgan Stanley now owns 2,395,773 shares of the specialty chemicals company’s stock valued at $29,708,000 after buying an additional 172,045 shares during the last quarter. Segall Bryant & Hamill LLC raised its holdings in Ferro by 57.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,326,434 shares of the specialty chemicals company’s stock valued at $16,445,000 after buying an additional 482,854 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Ferro by 13.3% in the 3rd quarter. Wells Fargo & Company MN now owns 1,284,502 shares of the specialty chemicals company’s stock valued at $15,928,000 after buying an additional 151,011 shares during the last quarter.

FOE has been the subject of a number of research reports. Zacks Investment Research lowered shares of Ferro from a “buy” rating to a “hold” rating in a report on Wednesday, February 17th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Ferro from $14.00 to $16.00 and gave the company a “buy” rating in a report on Monday, November 9th.

NYSE:FOE opened at $15.94 on Tuesday. The company has a market capitalization of $1.31 billion, a PE ratio of -265.62, a P/E/G ratio of 1.81 and a beta of 1.65. The company has a 50 day simple moving average of $15.10 and a two-hundred day simple moving average of $13.89. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.80 and a current ratio of 2.64. Ferro Co. has a fifty-two week low of $7.52 and a fifty-two week high of $16.47.

About Ferro

Ferro Corporation produces and markets specialty materials in the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through two segments, Performance Colors and Glass, and Color Solutions. The company offers frits, porcelain and other glass enamels, glazes, stains, decorating colors, pigments, inks, polishing materials, dielectrics, electronic glasses, and other specialty coatings.

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