Hodges Capital Management Inc. Lowers Position in FORTERRA INC (FRTA)

Hodges Capital Management Inc. lowered its stake in shares of FORTERRA INC (NASDAQ:FRTA) by 91.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,525 shares of the construction company’s stock after selling 698,565 shares during the period. Hodges Capital Management Inc.’s holdings in FORTERRA INC were worth $556,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in FORTERRA INC by 328.6% in the first quarter. Goldman Sachs Group Inc. now owns 225,936 shares of the construction company’s stock valued at $4,406,000 after buying an additional 173,216 shares during the period. Credit Suisse AG boosted its stake in FORTERRA INC by 19.6% in the first quarter. Credit Suisse AG now owns 378,198 shares of the construction company’s stock valued at $7,375,000 after buying an additional 61,871 shares during the period. Sound Point Capital Management LP boosted its stake in FORTERRA INC by 40.9% in the first quarter. Sound Point Capital Management LP now owns 949,645 shares of the construction company’s stock valued at $18,518,000 after buying an additional 275,504 shares during the period. Oppenheimer & Co. Inc. boosted its stake in FORTERRA INC by 65.4% in the first quarter. Oppenheimer & Co. Inc. now owns 63,279 shares of the construction company’s stock valued at $1,234,000 after buying an additional 25,012 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in FORTERRA INC by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 67,654 shares of the construction company’s stock valued at $1,320,000 after buying an additional 3,762 shares during the period. Hedge funds and other institutional investors own 98.30% of the company’s stock.

FORTERRA INC (FRTA) opened at 8.27 on Thursday. The company’s market cap is $530.42 million. The company’s 50 day moving average is $8.48 and its 200 day moving average is $14.30. FORTERRA INC has a 12-month low of $6.01 and a 12-month high of $22.76.

FORTERRA INC (NASDAQ:FRTA) last released its quarterly earnings results on Monday, May 15th. The construction company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.24. The company had revenue of $338.30 million for the quarter, compared to the consensus estimate of $340.24 million. Analysts forecast that FORTERRA INC will post $0.29 earnings per share for the current fiscal year.

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Several research firms have recently weighed in on FRTA. Royal Bank Of Canada restated a “hold” rating and set a $10.00 price objective on shares of FORTERRA INC in a research report on Wednesday. Barclays PLC restated a “buy” rating and set a $15.00 price objective (down previously from $18.00) on shares of FORTERRA INC in a research report on Monday, July 24th. ValuEngine cut shares of FORTERRA INC from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Zacks Investment Research upgraded shares of FORTERRA INC from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Citigroup Inc. lowered their price objective on shares of FORTERRA INC from $17.00 to $8.50 and set a “neutral” rating on the stock in a research report on Thursday, June 22nd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.28.

FORTERRA INC Company Profile

Want to see what other hedge funds are holding FRTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FORTERRA INC (NASDAQ:FRTA).

Institutional Ownership by Quarter for FORTERRA INC (NASDAQ:FRTA)

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