Bank of New York Mellon Corp Has $3.77 Million Stake in Forestar Group Inc. (NYSE:FOR)

Bank of New York Mellon Corp lowered its stake in shares of Forestar Group Inc. (NYSE:FOR) by 15.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,951 shares of the oil and gas exploration company’s stock after selling 21,438 shares during the quarter. Bank of New York Mellon Corp owned about 0.23% of Forestar Group worth $3,773,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC acquired a new stake in shares of Forestar Group in the 1st quarter valued at $32,000. CWM LLC boosted its stake in Forestar Group by 111.6% in the second quarter. CWM LLC now owns 1,060 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 559 shares in the last quarter. Family Firm Inc. bought a new position in Forestar Group in the second quarter valued at about $34,000. EverSource Wealth Advisors LLC raised its stake in Forestar Group by 115.4% during the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 495 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Forestar Group in the fourth quarter worth about $168,000. Institutional investors own 35.50% of the company’s stock.

Insider Buying and Selling at Forestar Group

In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $31.38, for a total transaction of $62,760.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Forestar Group news, Director G.F. (Rick) Ringler III sold 2,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $31.38, for a total transaction of $62,760.00. Following the sale, the director now owns 7,951 shares of the company’s stock, valued at $249,502.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth Parmer sold 1,547 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $32.24, for a total value of $49,875.28. Following the sale, the director now owns 1,548 shares of the company’s stock, valued at $49,907.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,095 shares of company stock worth $159,887. Insiders own 0.49% of the company’s stock.

Forestar Group Stock Up 3.8 %

Shares of NYSE FOR opened at $31.69 on Friday. The company has a 50 day simple moving average of $30.83 and a 200 day simple moving average of $33.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.50 and a quick ratio of 1.50. Forestar Group Inc. has a 1 year low of $22.71 and a 1 year high of $40.92. The firm has a market cap of $1.61 billion, a PE ratio of 7.88 and a beta of 1.76.

Forestar Group (NYSE:FOR) last issued its quarterly earnings results on Thursday, July 18th. The oil and gas exploration company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.13). Forestar Group had a return on equity of 13.48% and a net margin of 12.89%. The business had revenue of $318.40 million for the quarter, compared to analyst estimates of $370.50 million. On average, research analysts forecast that Forestar Group Inc. will post 3.72 EPS for the current year.

Wall Street Analyst Weigh In

FOR has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Citigroup decreased their target price on shares of Forestar Group from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Finally, BTIG Research dropped their price target on Forestar Group from $41.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, July 19th.

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.