First Eagle Investment Management LLC Increases Holdings in Forestar Group Inc. (NYSE:FOR)

First Eagle Investment Management LLC lifted its position in shares of Forestar Group Inc. (NYSE:FOR) by 26.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 479,669 shares of the oil and gas exploration company’s stock after acquiring an additional 100,100 shares during the quarter. First Eagle Investment Management LLC’s holdings in Forestar Group were worth $12,433,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FOR. Woodson Capital Management LP boosted its stake in shares of Forestar Group by 12.0% during 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 acquiring an additional 60,000 shares in the last quarter. Swedbank AB acquired a new position in shares of Forestar Group during the 4th quarter worth approximately $1,296,000. Principal Financial Group Inc. raised its position in shares of Forestar Group by 13.7% during the 3rd 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 during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Forestar Group during the 3rd quarter worth approximately $1,013,000. Finally, PDT Partners LLC acquired a new position in shares of Forestar Group during the 3rd quarter worth approximately $731,000. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Trading Up 2.6 %

FOR stock opened at $21.62 on Friday. The business has a fifty day simple moving average of $23.70 and a 200-day simple moving average of $27.96. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. Forestar Group Inc. has a 52 week low of $20.70 and a 52 week high of $40.92. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 6.06 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 business had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $318.00 million. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. The firm’s revenue for the quarter was down 18.1% on a year-over-year basis. On average, equities research analysts expect that Forestar Group Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at Forestar Group

In other news, CEO Anthony W. Oxley acquired 4,300 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was bought at an average cost of $23.14 per share, with a total value of $99,502.00. Following the transaction, the chief executive officer now directly owns 4,300 shares in the company, valued at approximately $99,502. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.40% of the stock is currently owned by corporate insiders.

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.