Ferro Stock Falls On Unusually High Volume (FOE)
NEW YORK (TheStreet) -- Ferro (NYSE:FOE) is trading at unusually high volume Wednesday with five million shares changing hands. It is currently at 4.4 times its average daily volume and trading down $1.29 (-18.9%) at $5.55 as of 3:55 p.m. ET. Ferro has a market cap of $544.5 million and is part of the basic materials sector and chemicals industry. Shares are up 39.9% year to date as of the close of trading on Tuesday. Ferro Corporation, together with its subsidiaries, engages in the production of specialty materials and chemicals for a range of manufacturers worldwide. Its product lines include electronics, color, and glass materials; and polymer and ceramic engineered materials. The company has a P/E ratio of 9.6, above the average chemicals industry P/E ratio of 8.9 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Ferro as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including poor profit margins, weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full Ferro Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.
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