Meeder Asset Management Inc. Cuts Position in Forestar Group Inc. (NYSE:FOR)

Meeder Asset Management Inc. lowered its stake in shares of Forestar Group Inc. (NYSE:FOR) by 42.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,676 shares of the oil and gas exploration company’s stock after selling 1,946 shares during the quarter. Meeder Asset Management Inc.’s holdings in Forestar Group were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Transcendent Capital Group LLC purchased a new position in Forestar Group in the first quarter valued at $32,000. EverSource Wealth Advisors LLC increased its holdings in Forestar Group by 115.4% in the first quarter. EverSource Wealth Advisors LLC now owns 924 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 495 shares during the last quarter. Family Firm Inc. purchased a new position in Forestar Group in the second quarter valued at $34,000. CWM LLC increased its holdings 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 during the last quarter. Finally, nVerses Capital LLC increased its holdings in Forestar Group by 500.0% in the third quarter. nVerses Capital LLC now owns 1,200 shares of the oil and gas exploration company’s stock valued at $39,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 35.50% of the company’s stock.

Forestar Group Price Performance

Shares of FOR opened at $28.91 on Thursday. Forestar Group Inc. has a fifty-two week low of $27.49 and a fifty-two week high of $40.92. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 7.21 and a beta of 1.76. The firm has a 50-day simple moving average of $31.68 and a 200-day simple moving average of $31.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.61.

Forestar Group (NYSE:FOR) last announced its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.29. Forestar Group had a net margin of 13.48% and a return on equity of 13.59%. The business had revenue of $551.40 million during the quarter, compared to the consensus estimate of $503.76 million. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts anticipate that Forestar Group Inc. will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. dropped their target price on Forestar Group from $37.50 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th.

Insider Transactions at Forestar Group

In related news, Director G.F. (Rick) Ringler III sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $32.58, for a total value of $65,160.00. Following the completion of the sale, the director now owns 5,951 shares in the company, valued at $193,883.58. This trade represents a 25.15 % decrease in their ownership of the stock. The sale 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.

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.