Renaissance Technologies LLC Buys New Stake in Forterra Inc (FRTA)
Renaissance Technologies LLC bought a new stake in Forterra Inc (NASDAQ:FRTA) during the first quarter, according to its most recent disclosure with the SEC. The fund bought 36,000 shares of the construction company’s stock, valued at approximately $702,000. Renaissance Technologies LLC owned approximately 0.06% of Forterra as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. Credit Agricole S A bought a new stake in Forterra during the first quarter valued at about $139,000. American International Group Inc. acquired a new stake in shares of Forterra during the first quarter worth about $217,000. Stifel Financial Corp increased its stake in shares of Forterra by 12.8% in the first quarter. Stifel Financial Corp now owns 91,124 shares of the construction company’s stock worth $1,777,000 after buying an additional 10,343 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Forterra during the first quarter worth about $263,000. Finally, 1st Global Advisors Inc. increased its stake in shares of Forterra by 4.2% in the first quarter. 1st Global Advisors Inc. now owns 14,003 shares of the construction company’s stock worth $273,000 after buying an additional 565 shares during the period.
Shares of Forterra Inc (FRTA) traded down 5.42% during midday trading on Wednesday, hitting $3.49. The company had a trading volume of 895,288 shares. Forterra Inc has a 1-year low of $3.19 and a 1-year high of $22.76. The firm’s market capitalization is $224.07 million. The stock has a 50 day moving average price of $7.24 and a 200 day moving average price of $13.07.
Forterra (NASDAQ:FRTA) last announced its earnings results on Thursday, August 10th. The construction company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.11. Forterra had a negative net margin of 4.72% and a negative return on equity of 45.03%. The company had revenue of $436.69 million during the quarter, compared to analyst estimates of $449.68 million. On average, equities analysts anticipate that Forterra Inc will post ($0.50) EPS for the current fiscal year.
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A number of equities research analysts recently issued reports on FRTA shares. Barclays PLC reiterated an “overweight” rating and issued a $18.00 price objective (down previously from $23.00) on shares of Forterra in a research report on Wednesday, May 17th. Zacks Investment Research downgraded Forterra from a “hold” rating to a “sell” rating in a research report on Thursday, June 1st. Citigroup Inc. downgraded Forterra from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $17.00 in a research report on Tuesday, May 16th. ValuEngine upgraded Forterra from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. Finally, SunTrust Banks, Inc. downgraded Forterra from a “buy” rating to a “hold” rating and set a $14.00 price objective on the stock. in a research report on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $15.56.
In related news, CFO William Matthew Brown bought 22,200 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average price of $4.80 per share, for a total transaction of $106,560.00. Following the completion of the transaction, the chief financial officer now directly owns 47,501 shares in the company, valued at $228,004.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.
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