This is incredible, unbelievable, fantastic - pick your own word. That's the lowest price since 1992 or earlier when the dollar was worth twice as much. In real dollar terms, the stock is at a 25 or 30 year low. Why?
Why is Ferro dropping like GM and Ford? What is the management team doing about it? If management were even marginally competent, would this be happening?
"James F. Kirsch is President and Chief Executive Officer of Ferro Corporation. He joined Ferro in 2004 as President and Chief Operating Officer, became President and Chief Executive Officer in 2005 and added responsibilities as Chairman in 2006."
Ferro stock was only $19.85 on December 15, 2006 when the Board of Directors of Ferro Corporation (NYSE:FOE) elected James F. Kirsch as Chairman, President and Chief Executive Officer. That's a 55% drop in value under Mr Kirsch.
FOE is hurting for cash and working capital. They have alot of debt and have been in an almost continuing restructure mode for along time. Many of their products are linked to consumer goods and the auto industry. Look elsewhere and forget about the divident they offer, IMHO, it will be reduced out of necessity. Sri
So you think that the dividend may be cut or suspended.
That makes sense.
Mr Kirsch should have sold some parts of Ferro when the going was good. The Electronics materials division would have provided $15 to $20 a share about 3 or 4 months ago. And Ferro could have easily weathered a depression in the US.
Now, if they suspend the dividend, the stock falls to $7 or lower.
All my thoughts on Ferro's stock price are pure speculation and do not base any investment decisions on them, please.
I will buy Ferro if it goes low enough, luckily having sold earlier this year. And, luckily, have not bought any yet.