G.F. (Rick) Ringler III Sells 2,000 Shares of Forestar Group Inc. (NYSE:FOR) Stock

Forestar Group Inc. (NYSE:FOR) Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $31.38, for a total value of $62,760.00. Following the sale, the director now owns 7,951 shares of the company’s stock, valued at approximately $249,502.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Forestar Group Price Performance

Shares of NYSE:FOR opened at $31.99 on Friday. The business has a 50 day moving average price of $32.75 and a 200 day moving average price of $33.89. Forestar Group Inc. has a twelve month low of $21.88 and a twelve month high of $40.92. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 7.96 and a beta of 1.78. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.48.

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 return on equity of 14.59% and a net margin of 12.99%. The firm had revenue of $333.80 million during the quarter, compared to the consensus estimate of $345.60 million. Research analysts predict that Forestar Group Inc. will post 3.87 earnings per share for the current year.

Analyst Ratings Changes

FOR has been the subject of several recent analyst reports. Citigroup upped 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 Forestar Group from a “buy” rating to a “hold” rating in a research note on Friday, April 26th.

Institutional Trading of Forestar Group

Several hedge funds have recently added to or reduced their stakes in FOR. Woodson Capital Management LP bought a new stake in Forestar Group during the 1st quarter valued at approximately $13,367,000. Dimensional Fund Advisors LP raised its holdings in Forestar Group by 11.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,026,590 shares of the oil and gas exploration company’s stock valued at $67,021,000 after acquiring an additional 200,686 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Forestar Group by 110.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 261,072 shares of the oil and gas exploration company’s stock valued at $7,033,000 after acquiring an additional 137,270 shares in the last quarter. Empowered Funds LLC raised its holdings in Forestar Group by 55.5% in the 1st quarter. Empowered Funds LLC now owns 290,197 shares of the oil and gas exploration company’s stock valued at $11,663,000 after acquiring an additional 103,562 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Forestar Group by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,761,849 shares of the oil and gas exploration company’s stock valued at $74,404,000 after acquiring an additional 90,291 shares in the last quarter. Institutional investors own 35.50% of the company’s stock.

About Forestar Group

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.