Last $13.12 USD
Change Today -0.07 / -0.53%
Volume 519.8K
FOE On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

ferro corp (FOE) Snapshot

Open
$13.17
Previous Close
$13.19
Day High
$13.20
Day Low
$12.98
52 Week High
03/21/14 - $14.97
52 Week Low
07/2/13 - $6.19
Market Cap
1.1B
Average Volume 10 Days
683.8K
EPS TTM
$0.72
Shares Outstanding
86.9M
EX-Date
05/6/09
P/E TM
18.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for FERRO CORP (FOE)

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ferro corp (FOE) Details

Ferro Corporation, together with its subsidiaries, produces and sells specialty materials and chemicals in the United States and internationally. The company operates in five segments: Pigments, Powders, and Oxides; Performance Colors and Glass; Performance Coatings; Polymer Additives; and Specialty Plastics. It offers various performance materials, including frits, porcelain and other glass enamels, glazes, stains, decorating colors, pigments, inks, polishing materials, specialty dielectrics, electronic glasses, and other specialty coatings; and performance chemicals comprising polymer additives, engineered plastic compounds, and pigment dispersions. The company’s products are used in appliances, automobiles, building and renovation, electronics, household furnishings, packaging, and industrial products. It sells its products primarily to the manufacturers of ceramic tiles, appliances, construction materials, automobile parts, glass, bottles, and wall coverings directly, as well as through agents and distributors. Ferro Corporation was founded in 1919 and is headquartered in Mayfield Heights, Ohio.

4,364 Employees
Last Reported Date: 02/24/14
Founded in 1919

ferro corp (FOE) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.0M
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $725.0K
Vice President, General Counsel and Secretary
Total Annual Compensation: $377.0K
Vice President of Human Resources
Total Annual Compensation: $357.0K
Compensation as of Fiscal Year 2013.

ferro corp (FOE) Key Developments

Ferro Mulls Acquisitions

Ferro Corporation (NYSE:FOE) is seeking acquisitions. The company said in its earnings conference call, "The company will continue to evaluate portfolio with focus on making acquisitions that will enhance market positions, and divesting operations where value creation."

Ferro Corporation Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance for the Full Year 2014 and 2015; Reports Impairment Charges for the Fourth Quarter of 2013

Ferro Corporation announced unaudited consolidated financial results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net sales of $374,323,000 against $399,777,000 a year ago. Profit before income taxes was $71,705,000 against loss of $67,976,000 a year ago. Net income attributable to common shareholders was $60,537,000 or $0.69 per diluted share against loss of $63,876,000 or $0.74 per diluted share a year ago. Income from continuing operations was $71,705,000 against loss of $67,976,000 a year ago. Net cash provided by operating activities was $15,461,000 against $4,122,000 a year ago. Capital expenditures for property, plant and equipment and other long-lived assets was $13,033,000 against $12,440,000 a year ago. Adjusted EBITDA was $30,759,000 against $11,671,000 a year ago. The company reported adjusted diluted EPS of $0.09 compared with a net loss of $0.07 per share in the fourth quarter of 2012. Adjusted net income from continuing operations attributable to common shareholders was $8 million compared with a net loss of $6 million in the prior-year quarter. For the year, the company reported net sales of $1,635,406,000 against $1,744,613,000 a year ago. Profit before income taxes was $95,733,000 against loss of $265,340,000 a year ago. Net income attributable to common shareholders was $71,942,000 or $0.92 per diluted share against loss of $374,268,000 or $4.35 per diluted share a year ago. Income from continuing operations was $80,866,000 against loss of $374,190,000 a year ago. Net cash provided by operating activities was $18,464,000 against $23,658,000 a year ago. Capital expenditures for property, plant and equipment and other long-lived assets was $34,220,000 against $58,685,000 a year ago. Adjusted EBITDA was $138,468,000 against $90,343,000 a year ago. At December 31, 2013, net debt was $283 million, a decrease of $34 million from December 2012. Capital expenditures were $34 million. Adjusted net income from continuing operations attributable to common shareholders was $41 million, or $0.47 per diluted share, compared with $6 million, or $0.07 per diluted share, in the prior year. The company also reaffirms its prior 2015 adjusted earnings per share target in excess of $1.00 per diluted share. The company expects adjusted earnings for 2014 to be in the range of $0.65 to $0.70 per diluted share driven primarily by additional cost savings and modest growth in value-added sales. The company expects capital spending to be approximately $65 million, with the largest commitment of capital associated with the previously announced investment in manufacturing capacity in Belgium for dibenzoates, a phthalate replacement. For the quarter, the company reported impairment charges of $14,995,000 against $21,990,000 a year ago.

Ferro Corporation Announces Management Changes

Ferro Corporation announced that its Board of Directors has voted to recommend that shareholders approve the declassification of the Board and other governance practices in furtherance of the company's continuing commitment to serve the long-term interests of all Ferro shareholders. The Board has decided that, at the organizational meeting of the Board of Directors immediately following the 2014 Annual Meeting, the company's President and Chief Executive Officer, Peter T. Thomas, will be appointed to the additional role of Chairman of the Board. In connection with that appointment, William B. Lawrence has agreed that, if re-elected at the 2014 Annual Meeting, he will step down from his position as Chairman of the Board. The Board also has agreed to appoint Gregory E. Hyland, if re-elected at the 2014 Annual Meeting, as Lead Director and as Chair of the Board's Governance & Nomination Committee. Mr. Hyland has been a member of the Ferro Board since 2009 and a member of the Board's Governance & Nomination Committee since 2010.

 

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FOE

Industry Average

Valuation FOE Industry Range
Price/Earnings 14.3x
Price/Sales 0.7x
Price/Book 4.3x
Price/Cash Flow 15.8x
TEV/Sales 0.5x
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