American Century Companies Inc. Grows Position in Forestar Group Inc. (NYSE:FOR)

American Century Companies Inc. increased its position in shares of Forestar Group Inc. (NYSE:FOR) by 22.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 461,388 shares of the oil and gas exploration company’s stock after buying an additional 84,861 shares during the quarter. American Century Companies Inc. owned about 0.91% of Forestar Group worth $14,760,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Forestar Group by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 2,805,957 shares of the oil and gas exploration company’s stock worth $112,771,000 after buying an additional 28,379 shares during the last quarter. Dimensional Fund Advisors LP grew its stake 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 buying an additional 200,686 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Forestar Group by 11.0% during the 1st quarter. Bridgeway Capital Management LLC now owns 439,892 shares of the oil and gas exploration company’s stock worth $17,679,000 after acquiring an additional 43,457 shares during the period. Woodson Capital Management LP acquired a new stake in Forestar Group during the 1st quarter worth approximately $13,367,000. Finally, Principal Financial Group Inc. lifted its position in Forestar Group by 2,409.9% during the 2nd quarter. Principal Financial Group Inc. now owns 317,102 shares of the oil and gas exploration company’s stock worth $10,144,000 after acquiring an additional 304,468 shares during the period. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Insider Activity

In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s 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 completion of the sale, the director now directly owns 7,951 shares of the company’s stock, valued at approximately $249,502.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 7,951 shares of the company’s stock, valued at approximately $249,502.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth Parmer sold 1,547 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total value of $49,875.28. Following the completion of the transaction, the director now directly owns 1,548 shares of the company’s stock, valued at $49,907.52. The disclosure for this sale can be found here. Insiders sold 5,095 shares of company stock valued at $159,887 in the last three months. 0.49% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on FOR. BTIG Research decreased their price objective on Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, July 19th. JPMorgan Chase & Co. decreased their price objective on Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Finally, Citigroup decreased their price objective on Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd.

Forestar Group Stock Down 3.3 %

FOR opened at $33.24 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.50 and a quick ratio of 1.50. The business has a 50 day simple moving average of $30.95 and a 200-day simple moving average of $33.04. The stock has a market capitalization of $1.68 billion, a P/E ratio of 8.27 and a beta of 1.76. Forestar Group Inc. has a 12 month low of $22.71 and a 12 month high of $40.92.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Thursday, July 18th. The oil and gas exploration company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.13). The business had revenue of $318.40 million during the quarter, compared to analyst estimates of $370.50 million. Forestar Group had a net margin of 12.89% and a return on equity of 13.48%. On average, equities analysts anticipate that Forestar Group Inc. will post 3.72 earnings per share for the current fiscal year.

Forestar Group 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.