Forestar Group Inc. (NYSE:FOR) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in Forestar Group Inc. (NYSE:FOR) by 77.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,713 shares of the oil and gas exploration company’s stock after selling 261,437 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.15% of Forestar Group worth $2,451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FOR. Dimensional Fund Advisors LP boosted its holdings in Forestar Group by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock worth $78,012,000 after buying an additional 201,032 shares during the last quarter. Woodson Capital Management LP lifted its position in shares of Forestar Group by 12.0% in the third quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock valued at $18,127,000 after acquiring an additional 60,000 shares in the last quarter. Moody Aldrich Partners LLC boosted its stake in shares of Forestar Group by 27.2% in the third quarter. Moody Aldrich Partners LLC now owns 216,354 shares of the oil and gas exploration company’s stock worth $7,003,000 after acquiring an additional 46,250 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Forestar Group by 13.7% during the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock worth $11,668,000 after purchasing an additional 43,369 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Forestar Group in the 3rd quarter valued at $1,013,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Trading Down 1.7 %

Shares of Forestar Group stock opened at $26.80 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.61. The stock’s 50 day simple moving average is $27.60 and its 200-day simple moving average is $30.05. The stock has a market cap of $1.36 billion, a P/E ratio of 6.68 and a beta of 1.74. Forestar Group Inc. has a 1-year low of $24.81 and a 1-year high of $40.92.

Forestar Group (NYSE:FOR) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.29. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The company had revenue of $551.40 million for the quarter, compared to analyst estimates of $503.76 million. During the same quarter in the previous year, the company posted $1.44 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts predict that Forestar Group Inc. will post 3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered their target price on shares of Forestar Group from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 6th.

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.