Dimensional Fund Advisors LP Grows Stock Holdings in Forestar Group Inc. (NYSE:FOR)

Dimensional Fund Advisors LP raised its stake in Forestar Group Inc. (NYSE:FOR) by 11.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,026,590 shares of the oil and gas exploration company’s stock after buying an additional 200,686 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Forestar Group were worth $67,021,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in shares of Forestar Group by 1,601.6% during the 3rd 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 in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in Forestar Group in the 4th quarter valued at approximately $35,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Forestar Group by 112.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,638 shares of the oil and gas exploration company’s stock worth $125,000 after purchasing an additional 2,459 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Forestar Group by 88.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,436 shares of the oil and gas exploration company’s stock worth $147,000 after purchasing an additional 2,077 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in Forestar Group in the fourth quarter valued at $226,000. 35.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup lifted their price target on Forestar Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. StockNews.com downgraded shares of Forestar Group from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

Forestar Group Stock Performance

NYSE FOR opened at $33.63 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 8.37 and a beta of 1.75. Forestar Group Inc. has a fifty-two week low of $19.32 and a fifty-two week high of $40.92. The business has a fifty day moving average of $35.29 and a 200-day moving average of $33.64.

Forestar Group (NYSE:FOR) last announced its earnings results on Thursday, April 18th. The oil and gas exploration company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. Forestar Group had a net margin of 12.99% and a return on equity of 14.59%. The firm had revenue of $333.80 million during the quarter, compared to the consensus estimate of $345.60 million. As a group, analysts predict that Forestar Group Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Activity at Forestar Group

In other news, CEO Anthony W. Oxley bought 3,210 shares of the stock in a transaction on Wednesday, April 24th. The stock was purchased at an average cost of $31.15 per share, with a total value of $99,991.50. Following the purchase, the chief executive officer now owns 3,210 shares of the company’s stock, valued at $99,991.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.49% of the company’s stock.

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.