Principal Financial Group Inc. Raises Stock Position in Forestar Group Inc. (NYSE:FOR)

Principal Financial Group Inc. grew its stake in Forestar Group Inc. (NYSE:FOR) by 13.7% during the third quarter, Holdings Channel.com reports. The fund owned 360,471 shares of the oil and gas exploration company’s stock after acquiring an additional 43,369 shares during the period. Principal Financial Group Inc.’s holdings in Forestar Group were worth $11,668,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Forestar Group by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,438,669 shares of the oil and gas exploration company’s stock valued at $78,012,000 after purchasing an additional 201,032 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Forestar Group by 46.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 65,990 shares of the oil and gas exploration company’s stock valued at $2,111,000 after acquiring an additional 20,795 shares in the last quarter. Hussman Strategic Advisors Inc. lifted its stake in Forestar Group by 75.0% in the second quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the oil and gas exploration company’s stock valued at $2,015,000 after buying an additional 27,000 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Forestar Group by 73.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 62,237 shares of the oil and gas exploration company’s stock worth $2,015,000 after purchasing an additional 26,360 shares during the period. Finally, Barclays PLC grew its holdings in shares of Forestar Group by 20.3% during the third quarter. Barclays PLC now owns 57,622 shares of the oil and gas exploration company’s stock worth $1,865,000 after buying an additional 9,733 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors and hedge funds.

Forestar Group Trading Down 1.9 %

NYSE:FOR opened at $25.70 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.44. The firm has a market cap of $1.30 billion, a P/E ratio of 6.41 and a beta of 1.72. The stock’s 50 day simple moving average is $29.40 and its 200-day simple moving average is $30.67. Forestar Group Inc. has a 12-month low of $25.33 and a 12-month high of $40.92.

Forestar Group (NYSE:FOR) last released its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.29. Forestar Group had a return on equity of 13.59% and a net margin of 13.48%. The company had revenue of $551.40 million for the quarter, compared to analysts’ expectations of $503.76 million. During the same quarter in the previous year, the firm posted $1.44 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts anticipate that Forestar Group Inc. will post 3.67 EPS 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.