Heartland Advisors Inc. Increases Holdings in Forestar Group Inc. (NYSE:FOR)

Heartland Advisors Inc. increased its holdings in Forestar Group Inc. (NYSE:FOR) by 12.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 392,600 shares of the oil and gas exploration company’s stock after purchasing an additional 42,600 shares during the quarter. Heartland Advisors Inc. owned 0.77% of Forestar Group worth $10,176,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. raised its holdings in Forestar Group by 11.3% during the 4th quarter. American Century Companies Inc. now owns 584,222 shares of the oil and gas exploration company’s stock valued at $15,143,000 after buying an additional 59,427 shares during the last quarter. Woodson Capital Management LP grew its position in shares of Forestar Group by 12.0% in the 3rd quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock worth $18,127,000 after buying an additional 60,000 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Forestar Group by 26.4% during the fourth quarter. First Eagle Investment Management LLC now owns 479,669 shares of the oil and gas exploration company’s stock valued at $12,433,000 after acquiring an additional 100,100 shares in the last quarter. State Street Corp lifted its stake in Forestar Group by 0.9% in the third quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company’s stock worth $13,838,000 after acquiring an additional 3,922 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Forestar Group by 13.7% in the third quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock valued at $11,668,000 after acquiring an additional 43,369 shares in the last quarter. Institutional investors own 35.50% of the company’s stock.

Insider Activity at Forestar Group

In related news, CEO Anthony W. Oxley acquired 4,300 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $23.14 per share, for a total transaction of $99,502.00. Following the completion of the transaction, the chief executive officer now directly owns 4,300 shares in the company, valued at approximately $99,502. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is currently owned by insiders.

Forestar Group Stock Performance

Shares of Forestar Group stock opened at $21.75 on Friday. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 6.09 and a beta of 1.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick ratio of 0.50. Forestar Group Inc. has a 1 year low of $20.70 and a 1 year high of $40.92. The firm’s 50-day moving average is $22.89 and its 200 day moving average is $27.36.

Forestar Group (NYSE:FOR) last posted its quarterly earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.33). The firm had revenue of $250.40 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 18.1% compared to the same quarter last year. Sell-side analysts anticipate that Forestar Group Inc. will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on FOR. StockNews.com upgraded shares of Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. Citigroup dropped their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced 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.

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.