Swedbank AB Sells 20,000 Shares of Forestar Group Inc $FOR

Swedbank AB reduced its position in shares of Forestar Group Inc (NYSE:FOR) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 450,000 shares of the oil and gas exploration company’s stock after selling 20,000 shares during the quarter. Swedbank AB’s holdings in Forestar Group were worth $10,998,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FOR. AQR Capital Management LLC increased its holdings in shares of Forestar Group by 32.1% during the first quarter. AQR Capital Management LLC now owns 227,559 shares of the oil and gas exploration company’s stock valued at $4,811,000 after acquiring an additional 55,266 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Forestar Group by 50.8% in the 1st quarter. Millennium Management LLC now owns 489,230 shares of the oil and gas exploration company’s stock worth $10,342,000 after purchasing an additional 164,753 shares in the last quarter. NewEdge Advisors LLC grew its position in Forestar Group by 63.7% in the 1st quarter. NewEdge Advisors LLC now owns 4,829 shares of the oil and gas exploration company’s stock valued at $102,000 after purchasing an additional 1,879 shares during the period. Jane Street Group LLC acquired a new stake in Forestar Group in the 1st quarter valued at $850,000. Finally, Strs Ohio bought a new stake in Forestar Group during the 1st quarter valued at $74,000. Institutional investors and hedge funds own 35.50% of the company’s stock.

Forestar Group Stock Up 0.8%

NYSE:FOR traded up $0.25 on Friday, hitting $30.51. The stock had a trading volume of 150,644 shares, compared to its average volume of 142,265. Forestar Group Inc has a 1 year low of $21.53 and a 1 year high of $32.06. The firm’s fifty day simple moving average is $28.40 and its two-hundred day simple moving average is $27.18. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market cap of $1.56 billion, a P/E ratio of 9.30 and a beta of 1.39.

Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.09). The business had revenue of $374.30 million during the quarter, compared to analysts’ expectations of $372.56 million. Forestar Group had a return on equity of 9.49% and a net margin of 9.80%.Forestar Group’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 EPS.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FOR. Weiss Ratings downgraded shares of Forestar Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. BTIG Research began coverage on shares of Forestar Group in a report on Monday, March 30th. They set a “hold” rating for the company. Finally, Zacks Research downgraded shares of Forestar Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.67.

Forestar Group Profile

Forestar Group Inc, headquartered in Austin, Texas, is a residential lot development and management company focused on delivering finished home sites to homebuilders across the United States. The company acquires, entitles and develops land for single-family and multi-family housing, managing zoning, infrastructure and environmental approvals to prepare lots for construction. Forestar’s integrated approach to land development spans from initial site acquisition through final lot delivery, providing homebuilders with ready-to-build parcels in a variety of markets.

In addition to lot development, Forestar operates a retail homebuilding segment through joint ventures and strategic partnerships with national and regional homebuilders.