Dallas, Texas 07/03/2013 (Financialstrend) – Shares of Ferro Corporation (NYSE:FOE) closed at $6.29 on Tuesday, recording a loss of 10.27 percent. The share price ranged between $6.19 and $6.90 during the day, with a 52-week high of $7.26 and a 52-week low of $2.38 per share.
Ferro Corporation (NYSE:FOE) traded at very high volumes of 5.20 million shares on Tuesday, whereas the average volume stood at 672,509 shares per day. Ferro Corporation (NYSE:FOE) currently has 86.60 million shares outstanding in the market with a market cap of $544.71 million and an institutional ownership of 90 percent of the total share capital.
Ferro Corporation (NYSE:FOE) is a producer of specialty chemicals and materials that are sold to a range of manufacturers, who in turn make products for diverse end-user markets. The company operates in six segments, namely in Specialty Plastics, Polymer Additives, Pharmaceuticals, Electronic Materials Performance Coatings, and Glass and Color Performance Material.
Ferro Corporation (NYSE:FOE) is trading 23.34 percent above its 200 day moving average and 10.21 percent below its 50 day moving average. The company is 164.29 percent above its 52-week low and 13.36 percent below its 52-week high price. Last month the company announced that installation of new dibenzoates production facilities at Antwerp. In order to provide an annual production capacity of 28,000 metric tons, the Antwerp project is designed with dibenzoates, a fast-fusing and non-phthalate plasticizer. Production at the facility is scheduled to begin in the second half of 2014. Through this project, the Company is expecting to significantly strengthen its market position for a broad range of markets, by offering high performance plasticizers and applications to customers who prefer a non-phthalate solution.