Bank of New York Mellon Corp Sells 3,622 Shares of Forestar Group Inc. (NYSE:FOR)

Bank of New York Mellon Corp trimmed its position in Forestar Group Inc. (NYSE:FORFree Report) by 2.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 175,012 shares of the oil and gas exploration company’s stock after selling 3,622 shares during the period. Bank of New York Mellon Corp owned about 0.35% of Forestar Group worth $4,715,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Carolina Wealth Advisors LLC bought a new position in shares of Forestar Group during the 3rd quarter valued at approximately $537,000. Summit Global Investments grew its position in shares of Forestar Group by 97.5% during the 3rd quarter. Summit Global Investments now owns 27,136 shares of the oil and gas exploration company’s stock valued at $731,000 after acquiring an additional 13,395 shares during the period. SG Americas Securities LLC bought a new position in shares of Forestar Group during the 3rd quarter valued at approximately $223,000. Ritholtz Wealth Management grew its position in shares of Forestar Group by 139.4% during the 3rd quarter. Ritholtz Wealth Management now owns 25,902 shares of the oil and gas exploration company’s stock valued at $698,000 after acquiring an additional 15,081 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of Forestar Group by 111.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 102,428 shares of the oil and gas exploration company’s stock valued at $2,310,000 after acquiring an additional 54,050 shares during the period. 35.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on FOR. StockNews.com raised shares of Forestar Group from a “hold” rating to a “buy” rating in a research report on Friday, November 17th. JPMorgan Chase & Co. upped their price target on shares of Forestar Group from $30.00 to $33.50 and gave the company a “neutral” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Check Out Our Latest Stock Report on FOR

Insider Activity at Forestar Group

In related news, CEO Daniel C. Bartok sold 949 shares of the stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $34.75, for a total transaction of $32,977.75. Following the transaction, the chief executive officer now owns 21,000 shares of the company’s stock, valued at approximately $729,750. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Forestar Group news, CEO Daniel C. Bartok sold 949 shares of the firm’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $34.75, for a total value of $32,977.75. Following the sale, the chief executive officer now owns 21,000 shares of the company’s stock, valued at approximately $729,750. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Daniel C. Bartok sold 2,202 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $31.30, for a total transaction of $68,922.60. Following the completion of the sale, the chief executive officer now directly owns 44,804 shares in the company, valued at approximately $1,402,365.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,706 shares of company stock valued at $494,922. Insiders own 0.49% of the company’s stock.

Forestar Group Price Performance

Shares of NYSE:FOR opened at $31.26 on Thursday. The company’s fifty day moving average price is $32.82 and its 200-day moving average price is $29.47. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 8.52 and a beta of 1.71. Forestar Group Inc. has a one year low of $13.72 and a one year high of $38.73. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 2.01.

Forestar Group (NYSE:FORGet Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.20. Forestar Group had a net margin of 12.08% and a return on equity of 13.85%. The firm had revenue of $305.90 million for the quarter, compared to analyst estimates of $273.00 million. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, equities research analysts anticipate that Forestar Group Inc. will post 3.93 earnings per share for the current fiscal year.

About Forestar Group

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Forestar Group (NYSE:FOR)

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