Forestar Group Inc. (NYSE:FOR) Director G.F. (Rick) Ringler III Sells 2,000 Shares

Forestar Group Inc. (NYSE:FOR) Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $31.38, for a total value of $62,760.00. Following the sale, the director now directly owns 7,951 shares in the company, valued at approximately $249,502.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Forestar Group Price Performance

FOR stock opened at $32.00 on Friday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 7.96 and a beta of 1.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.85. The company has a 50 day simple moving average of $32.75 and a 200 day simple moving average of $33.87. Forestar Group Inc. has a 1 year low of $21.88 and a 1 year high of $40.92.

Forestar Group (NYSE:FOR) last posted its earnings results on Thursday, April 18th. The oil and gas exploration company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. Forestar Group had a net margin of 12.99% and a return on equity of 14.59%. The firm had revenue of $333.80 million for the quarter, compared to analysts’ expectations of $345.60 million. Research analysts anticipate that Forestar Group Inc. will post 3.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Forestar Group

Several large investors have recently bought and sold shares of the company. Woodson Capital Management LP acquired a new position in shares of Forestar Group in the first quarter valued at approximately $13,367,000. Dimensional Fund Advisors LP grew its holdings in Forestar Group by 11.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,026,590 shares of the oil and gas exploration company’s stock worth $67,021,000 after acquiring an additional 200,686 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Forestar Group by 110.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 261,072 shares of the oil and gas exploration company’s stock valued at $7,033,000 after acquiring an additional 137,270 shares during the period. Empowered Funds LLC raised its stake in shares of Forestar Group by 55.5% during the first quarter. Empowered Funds LLC now owns 290,197 shares of the oil and gas exploration company’s stock valued at $11,663,000 after acquiring an additional 103,562 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Forestar Group by 3.4% during the third quarter. Vanguard Group Inc. now owns 2,761,849 shares of the oil and gas exploration company’s stock worth $74,404,000 after purchasing an additional 90,291 shares during the period. 35.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup increased their price target on shares of Forestar Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. StockNews.com downgraded Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

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.