Legion Partners, LP I recently revealed that they own a 11.9% stake in L.B. Foster Co. (NASDAQ:FSTR) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Friday, September 30th. The investor owns 1,237,105 shares of the stock worth $14,857,631. The reporting parties listed on the disclosure included Legion Partners, LP I, Legion Partners, LP II, Legion Partners Special Opportunities, LP II, Legion Partners, LLC, Legion Partners Asset Management, LLC, Legion Partners Holdings, LLC, Bradley S Vizi, Christopher S Kiper and Raymond White. The filing is available through the SEC website at this link.
Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of L.B. Foster by 27.0% in the second quarter. Ameriprise Financial Inc. now owns 533,325 shares of the company’s stock worth $5,806,000 after buying an additional 113,408 shares during the last quarter. LSV Asset Management boosted its position in shares of L.B. Foster by 4.4% in the second quarter. LSV Asset Management now owns 325,347 shares of the company’s stock worth $3,543,000 after buying an additional 13,700 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of L.B. Foster by 70.5% in the second quarter. GSA Capital Partners LLP now owns 44,500 shares of the company’s stock worth $485,000 after buying an additional 18,400 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of L.B. Foster by 45.0% in the second quarter. California Public Employees Retirement System now owns 37,400 shares of the company’s stock worth $407,000 after buying an additional 11,600 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its position in shares of L.B. Foster by 134.6% in the second quarter. ClariVest Asset Management LLC now owns 14,491 shares of the company’s stock worth $158,000 after buying an additional 8,314 shares during the last quarter. 58.27% of the stock is owned by institutional investors and hedge funds.
Shares of L.B. Foster Co. (NASDAQ:FSTR) traded up 0.08% during trading on Friday, hitting $12.01. The company’s stock had a trading volume of 97,734 shares. The stock’s market cap is $124.70 million. The company has a 50-day moving average price of $11.50 and a 200-day moving average price of $13.06. L.B. Foster Co. has a one year low of $8.80 and a one year high of $20.77.
L.B. Foster (NASDAQ:FSTR) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.30. L.B. Foster had a positive return on equity of 1.90% and a negative net margin of 25.79%. The company had revenue of $136 million for the quarter, compared to analysts’ expectations of $152.65 million. During the same period in the prior year, the business earned $0.52 EPS. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. Equities analysts predict that L.B. Foster Co. will post ($0.36) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Wednesday, September 7th. L.B. Foster’s dividend payout ratio is currently -1.10%.
In related news, Director Bradley Vizi purchased 19,401 shares of the stock in a transaction that occurred on Friday, September 23rd. The shares were purchased at an average price of $11.65 per share, with a total value of $226,021.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert S. Purgason purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were bought at an average cost of $11.24 per share, for a total transaction of $112,400.00. Following the acquisition, the director now owns 27,915 shares of the company’s stock, valued at $313,764.60. The disclosure for this purchase can be found here. Corporate insiders own 15.20% 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.
Want to see what other hedge funds are holding FSTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L.B. Foster Co. (NASDAQ:FSTR).
Receive News & Ratings for L.B. Foster Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L.B. Foster Co. and related companies with MarketBeat.com's FREE daily email newsletter.