Rhumbline Advisers Acquires 1,186 Shares of Forestar Group Inc. (NYSE:FOR)

Rhumbline Advisers lifted its holdings in shares of Forestar Group Inc. (NYSE:FOR) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,098 shares of the oil and gas exploration company’s stock after buying an additional 1,186 shares during the period. Rhumbline Advisers owned about 0.06% of Forestar Group worth $995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FOR. Transcendent Capital Group LLC acquired a new position in Forestar Group during the first quarter valued at approximately $32,000. CWM LLC raised its stake in shares of Forestar Group by 111.6% during the 2nd quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 559 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Forestar Group in the 2nd quarter valued at approximately $34,000. EverSource Wealth Advisors LLC grew its stake in shares of Forestar Group by 115.4% in the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 495 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in Forestar Group during the second quarter worth $112,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Analyst Ratings Changes

FOR has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. cut their target price on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Finally, BTIG Research lowered their price target on Forestar Group from $41.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, July 19th.

Insider Transactions at Forestar Group

In other news, Director Elizabeth Parmer sold 1,547 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $32.24, for a total transaction of $49,875.28. Following the transaction, the director now owns 1,548 shares in the company, valued at $49,907.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Elizabeth Parmer sold 1,547 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $32.24, for a total transaction of $49,875.28. Following the transaction, the director now directly owns 1,548 shares of the company’s stock, valued at $49,907.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director G.F. (Rick) Ringler III sold 2,000 shares of Forestar Group stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $31.38, for a total transaction of $62,760.00. Following the completion of the sale, the director now owns 7,951 shares of the company’s stock, valued at approximately $249,502.38. The disclosure for this sale can be found here. Insiders sold a total of 5,095 shares of company stock worth $159,887 over the last quarter. Company insiders own 0.49% of the company’s stock.

Forestar Group Trading Down 3.3 %

FOR stock opened at $33.24 on Monday. Forestar Group Inc. has a one year low of $22.71 and a one year high of $40.92. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 8.27 and a beta of 1.76. The company has a fifty day moving average price of $30.95 and a two-hundred day moving average price of $33.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.50 and a quick ratio of 1.50.

Forestar Group (NYSE:FOR) last announced its earnings results on Thursday, July 18th. The oil and gas exploration company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.13). The company had revenue of $318.40 million for the quarter, compared to the consensus estimate of $370.50 million. Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. Equities analysts anticipate that Forestar Group Inc. will post 3.72 EPS for the current year.

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.