Forestar Group Inc. (NYSE:FOR) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its stake in Forestar Group Inc. (NYSE:FOR) by 11.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 584,222 shares of the oil and gas exploration company’s stock after buying an additional 59,427 shares during the quarter. American Century Companies Inc.’s holdings in Forestar Group were worth $15,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in FOR. Charles Schwab Investment Management Inc. grew its stake in Forestar Group by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 158,959 shares of the oil and gas exploration company’s stock worth $5,146,000 after buying an additional 6,650 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Forestar Group by 55.7% during the third quarter. Quantbot Technologies LP now owns 25,309 shares of the oil and gas exploration company’s stock worth $819,000 after acquiring an additional 9,053 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Forestar Group by 30.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 27,886 shares of the oil and gas exploration company’s stock worth $903,000 after acquiring an additional 6,553 shares during the period. Verition Fund Management LLC bought a new stake in Forestar Group in the 3rd quarter valued at about $337,000. Finally, PDT Partners LLC bought a new stake in Forestar Group in the 3rd quarter valued at about $731,000. 35.50% of the stock is owned by institutional investors.

Forestar Group Stock Up 0.7 %

FOR stock opened at $21.22 on Tuesday. The firm’s 50-day moving average is $22.66 and its two-hundred day moving average is $27.19. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 5.94 and a beta of 1.75. Forestar Group Inc. has a 52 week low of $20.70 and a 52 week high of $40.86. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50.

Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.33). The firm had revenue of $250.40 million for the quarter, compared to the consensus estimate of $318.00 million. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. Forestar Group’s revenue for the quarter was down 18.1% compared to the same quarter last year. On average, analysts forecast that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity

In other Forestar Group news, CEO Anthony W. Oxley bought 4,300 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $23.14 per share, for a total transaction of $99,502.00. Following the acquisition, the chief executive officer now directly owns 4,300 shares of the company’s stock, valued at $99,502. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.40% of the company’s stock.

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.