State Street Corp Acquires 3,922 Shares of Forestar Group Inc. (NYSE:FOR)

State Street Corp lifted its holdings in Forestar Group Inc. (NYSE:FOR) by 0.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 427,487 shares of the oil and gas exploration company’s stock after buying an additional 3,922 shares during the quarter. State Street Corp’s holdings in Forestar Group were worth $13,838,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FOR. Allspring Global Investments Holdings LLC grew its stake in shares of Forestar Group by 46.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 65,990 shares of the oil and gas exploration company’s stock valued at $2,111,000 after purchasing an additional 20,795 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Forestar Group by 2.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 70,638 shares of the oil and gas exploration company’s stock worth $2,260,000 after buying an additional 1,590 shares in the last quarter. Innealta Capital LLC bought a new position in Forestar Group in the 2nd quarter valued at $112,000. Principal Financial Group Inc. increased its stake in shares of Forestar Group by 2,409.9% in the 2nd quarter. Principal Financial Group Inc. now owns 317,102 shares of the oil and gas exploration company’s stock valued at $10,144,000 after buying an additional 304,468 shares during the period. Finally, Ritholtz Wealth Management raised its position in shares of Forestar Group by 4.7% during the second quarter. Ritholtz Wealth Management now owns 56,653 shares of the oil and gas exploration company’s stock worth $1,812,000 after acquiring an additional 2,552 shares during the last quarter. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Price Performance

Forestar Group stock opened at $26.01 on Wednesday. The business’s 50-day simple moving average is $29.82 and its 200 day simple moving average is $30.80. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 6.49 and a beta of 1.72. Forestar Group Inc. has a 12-month low of $25.33 and a 12-month high of $40.92.

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

Insider Transactions at Forestar Group

In other news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $32.58, for a total transaction of $65,160.00. Following the completion of the transaction, the director now directly owns 5,951 shares of the company’s stock, valued at $193,883.58. This trade represents a 25.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.49% 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.