Capstone Asset Management Co. held its position in shares of Forestar Group Inc. (NYSE:FOR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,428 shares of the oil and gas exploration company’s stock at the end of the second quarter. Capstone Asset Management Co.’s holdings in Forestar Group were worth $124,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Forestar Group by 18.0% in the first quarter. JPMorgan Chase & Co. now owns 1,774,964 shares of the oil and gas exploration company’s stock valued at $23,147,000 after buying an additional 270,886 shares during the period. NorthRock Partners LLC acquired a new position in shares of Forestar Group during the first quarter valued at $742,000. Renaissance Technologies LLC acquired a new position in shares of Forestar Group during the first quarter valued at $415,000. Royal Bank of Canada increased its position in shares of Forestar Group by 66.6% in the first quarter. Royal Bank of Canada now owns 19,301 shares of the oil and gas exploration company’s stock valued at $252,000 after buying an additional 7,719 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of Forestar Group by 125.3% in the second quarter. BNP Paribas Arbitrage SA now owns 10,462 shares of the oil and gas exploration company’s stock valued at $124,000 after buying an additional 5,819 shares during the period.
Forestar Group Inc. (NYSE:FOR) remained flat at $11.71 during mid-day trading on Friday. The company’s stock had a trading volume of 216,793 shares. The company’s 50 day moving average price is $12.07 and its 200-day moving average price is $12.31. Forestar Group Inc. has a 52-week low of $7.95 and a 52-week high of $14.87. The company’s market cap is $401.66 million.
Forestar Group (NYSE:FOR) last issued its earnings results on Friday, July 29th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.13. The firm earned $46.40 million during the quarter, compared to analysts’ expectations of $44.80 million. Forestar Group had a negative net margin of 66.84% and a positive return on equity of 7.06%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. Analysts expect that Forestar Group Inc. will post $0.30 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded Forestar Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 12th.
About Forestar Group
Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments: Real Estate, Oil and Gas, and Other Natural Resources. Its Real Estate segment secures entitlements and develops infrastructure on its lands for single-family residential and mixed-use communities, and manages its undeveloped land, commercial and income producing properties, mainly a hotel and its multifamily properties.
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