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

Bank of New York Mellon Corp increased its position in shares of Forestar Group Inc. (NYSE:FOR) by 15.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 114,372 shares of the oil and gas exploration company’s stock after purchasing an additional 15,395 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.23% of Forestar Group worth $2,965,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in shares of Forestar Group during the 3rd quarter worth approximately $32,000. R Squared Ltd purchased a new position in Forestar Group in the fourth quarter valued at $95,000. Heck Capital Advisors LLC acquired a new position in Forestar Group in the fourth quarter valued at approximately $112,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Forestar Group in the 3rd quarter valued at $172,000. Finally, SG Americas Securities LLC boosted its position in shares of Forestar Group by 43.3% in the 4th quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company’s stock valued at $148,000 after purchasing an additional 1,731 shares during the period. 35.50% of the stock is owned by hedge funds and other institutional investors.

Forestar Group Stock Performance

NYSE FOR opened at $22.44 on Friday. The business’s 50-day moving average price is $23.33 and its 200 day moving average price is $27.65. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. Forestar Group Inc. has a twelve month low of $20.70 and a twelve month high of $40.92. The company has a market capitalization of $1.14 billion, a PE ratio of 6.29 and a beta of 1.75.

Forestar Group (NYSE:FOR) last announced its quarterly earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates 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 company’s revenue was down 18.1% on a year-over-year basis. On average, research analysts predict that Forestar Group Inc. will post 3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Forestar Group

In other news, CEO Anthony W. Oxley acquired 4,300 shares of the business’s stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the acquisition, the chief executive officer now directly owns 4,300 shares of the company’s stock, valued at $99,502. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.

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.