American Century Companies Inc. Raises Stake in Forestar Group Inc. (NYSE:FOR)

American Century Companies Inc. boosted its holdings in Forestar Group Inc. (NYSE:FOR) by 11.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 584,222 shares of the oil and gas exploration company’s stock after buying an additional 59,427 shares during the period. American Century Companies Inc. owned approximately 1.15% of Forestar Group worth $15,143,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FOR. Carolina Wealth Advisors LLC increased its position in shares of Forestar Group by 2.3% in the fourth quarter. Carolina Wealth Advisors LLC now owns 20,589 shares of the oil and gas exploration company’s stock worth $534,000 after acquiring an additional 454 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Forestar Group by 10.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company’s stock valued at $170,000 after purchasing an additional 602 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Forestar Group in the third quarter valued at about $32,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Forestar Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 160,056 shares of the oil and gas exploration company’s stock worth $4,149,000 after purchasing an additional 1,097 shares in the last quarter. Finally, Summit Global Investments boosted its position in shares of Forestar Group by 3.7% in the fourth quarter. Summit Global Investments now owns 33,194 shares of the oil and gas exploration company’s stock worth $860,000 after buying an additional 1,192 shares during the period. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Insider Buying and Selling

In other news, CEO Anthony W. Oxley bought 4,300 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the transaction, the chief executive officer now owns 4,300 shares in the company, valued at $99,502. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

Forestar Group Stock Performance

Shares of FOR opened at $21.22 on Tuesday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 5.94 and a beta of 1.75. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $22.66 and its two-hundred day moving average is $27.19. Forestar Group Inc. has a 52-week low of $20.70 and a 52-week high of $40.86.

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

Forestar Group Company Profile

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.