Carolina Wealth Advisors LLC Boosts Stock Position in Forestar Group Inc. (NYSE:FOR)

Carolina Wealth Advisors LLC raised its stake in Forestar Group Inc. (NYSE:FOR) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,589 shares of the oil and gas exploration company’s stock after purchasing an additional 454 shares during the period. Carolina Wealth Advisors LLC’s holdings in Forestar Group were worth $534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in Forestar Group by 4.0% in the second quarter. Rhumbline Advisers now owns 31,098 shares of the oil and gas exploration company’s stock worth $995,000 after acquiring an additional 1,186 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Forestar Group by 89.2% in the second quarter. Victory Capital Management Inc. now owns 11,408 shares of the oil and gas exploration company’s stock valued at $365,000 after acquiring an additional 5,377 shares during the period. American Century Companies Inc. increased its position in shares of Forestar Group by 22.5% in the second quarter. American Century Companies Inc. now owns 461,388 shares of the oil and gas exploration company’s stock valued at $14,760,000 after buying an additional 84,861 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Forestar Group by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock valued at $78,012,000 after buying an additional 201,032 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Forestar Group by 4.9% in the second quarter. Renaissance Technologies LLC now owns 154,080 shares of the oil and gas exploration company’s stock valued at $4,929,000 after buying an additional 7,180 shares in the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Stock Performance

Shares of Forestar Group stock opened at $27.18 on Thursday. Forestar Group Inc. has a 52 week low of $24.81 and a 52 week high of $40.92. The business’s fifty day simple moving average is $27.87 and its 200-day simple moving average is $30.13. The firm has a market cap of $1.38 billion, a PE ratio of 6.78 and a beta of 1.74. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

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

Wall Street Analyst Weigh In

Separately, Citigroup dropped their price target on Forestar Group from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th.

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.