Northern Trust Corp Purchases 12,502 Shares of Forestar Group Inc. (NYSE:FOR)

Northern Trust Corp lifted its position in shares of Forestar Group Inc. (NYSE:FOR) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 217,260 shares of the oil and gas exploration company’s stock after buying an additional 12,502 shares during the quarter. Northern Trust Corp owned approximately 0.43% of Forestar Group worth $5,631,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Forestar Group by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,721,534 shares of the oil and gas exploration company’s stock valued at $70,541,000 after purchasing an additional 119,357 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Forestar Group by 26.4% in the fourth quarter. First Eagle Investment Management LLC now owns 479,669 shares of the oil and gas exploration company’s stock worth $12,433,000 after acquiring an additional 100,100 shares in the last quarter. First Trust Advisors LP boosted its holdings in Forestar Group by 197.8% in the fourth quarter. First Trust Advisors LP now owns 128,989 shares of the oil and gas exploration company’s stock worth $3,343,000 after acquiring an additional 85,669 shares in the last quarter. American Century Companies Inc. boosted its holdings in Forestar Group by 11.3% in the fourth quarter. American Century Companies Inc. now owns 584,222 shares of the oil and gas exploration company’s stock worth $15,143,000 after acquiring an additional 59,427 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Forestar Group by 77.3% in the fourth quarter. JPMorgan Chase & Co. now owns 134,238 shares of the oil and gas exploration company’s stock worth $3,479,000 after acquiring an additional 58,525 shares in the last quarter. Institutional investors own 35.50% of the company’s stock.

Forestar Group Trading Down 0.6%

Shares of NYSE:FOR opened at $19.77 on Wednesday. Forestar Group Inc. has a 52-week low of $18.00 and a 52-week high of $37.21. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 5.54 and a beta of 1.46. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $20.31 and a 200-day moving average price of $24.01.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data on Thursday, April 17th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.07). The firm had revenue of $351.00 million during the quarter, compared to analysts’ expectations of $379.60 million. Forestar Group had a return on equity of 11.74% and a net margin of 12.50%. Equities analysts predict that Forestar Group Inc. will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. StockNews.com raised Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th. BTIG Research lowered their price target on Forestar Group from $36.00 to $29.00 and set a “buy” rating for the company in a report on Monday, April 21st. Finally, Citigroup lowered their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, January 23rd.

Insider Activity at Forestar Group

In other Forestar Group news, Director Elizabeth Parmer sold 1,460 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $20.57, for a total value of $30,032.20. Following the sale, the director now directly owns 3,357 shares of the company’s stock, valued at approximately $69,053.49. This trade represents a 30.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is owned by company insiders.

About Forestar Group

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.