L.B. Foster Co. (FSTR) Shares Gap Up Following Insider Buying Activity
L.B. Foster Co. (NASDAQ:FSTR) shares gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $12.06, but opened at $12.10. L.B. Foster shares last traded at $12.85, with a volume of 37,029 shares trading hands.
Specifically, Director Bradley Vizi purchased 13,397 shares of the company’s stock in a transaction that occurred on Friday, October 14th. The stock was purchased at an average cost of $11.99 per share, with a total value of $160,630.03. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert S. Purgason purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were purchased at an average cost of $11.24 per share, with a total value of $112,400.00. Following the completion of the purchase, the director now owns 27,915 shares in the company, valued at approximately $313,764.60. The disclosure for this purchase can be found here. Corporate insiders own 15.20% of the company’s stock.
The company has a 50-day moving average price of $11.88 and a 200-day moving average price of $12.61. The stock’s market capitalization is $131.86 million.
L.B. Foster (NASDAQ:FSTR) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.30. The company had revenue of $136 million for the quarter, compared to analyst estimates of $152.65 million. L.B. Foster had a positive return on equity of 1.90% and a negative net margin of 25.79%. The business’s revenue was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. Equities analysts predict that L.B. Foster Co. will post ($0.36) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Wednesday, September 7th. L.B. Foster’s dividend payout ratio is presently -1.10%.
A number of institutional investors have recently bought and sold shares of FSTR. Kennedy Capital Management Inc. boosted its position in L.B. Foster by 6.0% in the first quarter. Kennedy Capital Management Inc. now owns 324,599 shares of the company’s stock worth $5,895,000 after buying an additional 18,469 shares in the last quarter. Alpine Partners VI LLC bought a new position in L.B. Foster during the second quarter worth $152,000. Springbok Capital Management LLC boosted its position in L.B. Foster by 21.2% in the first quarter. Springbok Capital Management LLC now owns 10,300 shares of the company’s stock worth $187,000 after buying an additional 1,800 shares in the last quarter. Acrospire Investment Management LLC bought a new position in L.B. Foster during the second quarter worth $154,000. Finally, Royal Bank of Canada boosted its position in L.B. Foster by 26.9% in the first quarter. Royal Bank of Canada now owns 7,261 shares of the company’s stock worth $132,000 after buying an additional 1,538 shares in the last quarter. Institutional investors own 58.28% of the company’s stock.
About L.B. Foster
L.B. Foster Company is a manufacturer, fabricator and distributor of products and services for the rail, construction, energy and utility markets. The Company’s segments include Rail Products and Services, Construction Products, and Tubular and Energy Services. Its Rail Products segment provides a range of new and used rail, trackwork and accessories to railroads, mines and industry.
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