Forestar Group Inc. (NYSE:FOR) Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in Forestar Group Inc. (NYSE:FOR) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,372 shares of the oil and gas exploration company’s stock after buying an additional 15,395 shares during the quarter. Bank of New York Mellon Corp’s holdings in Forestar Group were worth $2,965,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FOR. New York State Common Retirement Fund boosted its position in Forestar Group by 4.6% during the fourth quarter. New York State Common Retirement Fund now owns 75,281 shares of the oil and gas exploration company’s stock worth $1,951,000 after purchasing an additional 3,300 shares during the period. Empowered Funds LLC lifted its stake in shares of Forestar Group by 3.9% in the fourth quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock worth $8,566,000 after buying an additional 12,473 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Forestar Group during the 4th quarter worth $112,000. Swedbank AB acquired a new position in Forestar Group in the 4th quarter valued at $1,296,000. Finally, R Squared Ltd bought a new position in Forestar Group in the 4th quarter worth $95,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FOR shares. Citigroup cut their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. StockNews.com upgraded shares of Forestar Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their target price on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th.

Forestar Group Price Performance

Shares of FOR stock opened at $22.44 on Friday. The firm’s 50 day moving average price is $23.33 and its two-hundred day moving average price is $27.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a market cap of $1.14 billion, a PE ratio of 6.29 and a beta of 1.75. Forestar Group Inc. has a 52-week low of $20.70 and a 52-week high of $40.92.

Forestar Group (NYSE:FOR) last posted its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.33). The firm had revenue of $250.40 million during the quarter, compared to analyst estimates of $318.00 million. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The company’s revenue was down 18.1% compared to the same quarter last year. As a group, analysts forecast that Forestar Group Inc. will post 3.44 EPS for the current year.

Insider Transactions at Forestar Group

In other Forestar Group news, CEO Anthony W. Oxley bought 4,300 shares of Forestar Group stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the completion of the acquisition, the chief executive officer now owns 4,300 shares of the company’s stock, valued at $99,502. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is owned by insiders.

About Forestar Group

Forestar Group Inc operates as a residential lot development company in the United States. The company acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to local, regional, and national homebuilders. The company was incorporated in 2005 and is headquartered in Arlington, Texas.