Cornerstone Investment Partners LLC Makes New Investment in Forestar Group Inc. (NYSE:FOR)

Cornerstone Investment Partners LLC purchased a new position in Forestar Group Inc. (NYSE:FOR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,820 shares of the oil and gas exploration company’s stock, valued at approximately $226,000.

A number of other hedge funds have also modified their holdings of the company. LPL Financial LLC boosted its position in shares of Forestar Group by 0.4% in the third quarter. LPL Financial LLC now owns 101,598 shares of the oil and gas exploration company’s stock worth $2,737,000 after purchasing an additional 403 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Forestar Group by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,908 shares of the oil and gas exploration company’s stock worth $295,000 after acquiring an additional 511 shares during the last quarter. Tudor Investment Corp Et Al boosted its position in shares of Forestar Group by 0.9% during the second quarter. Tudor Investment Corp Et Al now owns 57,642 shares of the oil and gas exploration company’s stock worth $1,300,000 after acquiring an additional 531 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Forestar Group by 14.5% during the second quarter. Legal & General Group Plc now owns 6,652 shares of the oil and gas exploration company’s stock worth $91,000 after acquiring an additional 842 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Forestar Group by 1,601.6% during the third quarter. Federated Hermes Inc. now owns 1,038 shares of the oil and gas exploration company’s stock worth $28,000 after acquiring an additional 977 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th.

Forestar Group Price Performance

Forestar Group stock traded up $0.34 during mid-day trading on Friday, reaching $31.64. 223,722 shares of the company’s stock traded hands, compared to its average volume of 225,395. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 8.53 and a beta of 1.71. The stock has a 50 day moving average of $35.77 and a two-hundred day moving average of $32.16. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. Forestar Group Inc. has a 12-month low of $15.66 and a 12-month high of $40.92.

Forestar Group (NYSE:FOR) last released its quarterly earnings results on Tuesday, January 23rd. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.20. Forestar Group had a net margin of 12.08% and a return on equity of 13.85%. The company had revenue of $305.90 million for the quarter, compared to the consensus estimate of $273.00 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Equities analysts forecast that Forestar Group Inc. will post 3.93 earnings per share for the current year.

Forestar Group Company Profile

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.