Bank of New York Mellon Corp Acquires 15,395 Shares of Forestar Group Inc. (NYSE:FOR)

Bank of New York Mellon Corp grew its holdings in shares of Forestar Group Inc. (NYSE:FOR - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,372 shares of the oil and gas exploration company's stock after acquiring an additional 15,395 shares during the period. Bank of New York Mellon Corp owned 0.23% of Forestar Group worth $2,965,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Point72 DIFC Ltd bought a new position in Forestar Group during the third quarter worth $32,000. R Squared Ltd bought a new position in shares of Forestar Group during the 4th quarter worth about $95,000. Heck Capital Advisors LLC acquired a new stake in shares of Forestar Group in the 4th quarter valued at about $112,000. SG Americas Securities LLC increased its position in Forestar Group by 43.3% in the 4th quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company's stock valued at $148,000 after buying an additional 1,731 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Forestar Group during the 3rd quarter worth approximately $172,000. 35.50% of the stock is owned by institutional investors.

Forestar Group Price Performance

Shares of FOR stock traded up $0.48 during trading hours on Monday, reaching $22.21. The stock had a trading volume of 124,405 shares, compared to its average volume of 180,514. The stock's fifty day simple moving average is $23.26 and its 200 day simple moving average is $27.55. The firm has a market capitalization of $1.13 billion, a PE ratio of 6.22 and a beta of 1.75. Forestar Group Inc. has a 12 month low of $20.70 and a 12 month high of $40.92. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50.

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Forestar Group (NYSE:FOR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The oil and gas exploration company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.33). The firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $318.00 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. Forestar Group's revenue for the quarter was down 18.1% on a year-over-year basis. On average, equities research analysts predict that Forestar Group Inc. will post 3.44 EPS for the current year.

Insider Buying and Selling at Forestar Group

In other news, CEO Anthony W. Oxley acquired 4,300 shares of the business's stock in a transaction dated Friday, February 14th. The stock was purchased at an average cost of $23.14 per share, for a total transaction of $99,502.00. Following the acquisition, the chief executive officer now owns 4,300 shares of the company's stock, valued at $99,502. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Forestar Group from $37.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. Citigroup dropped their target price on shares of Forestar Group from $39.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. Finally, StockNews.com raised shares of Forestar Group from a "sell" rating to a "hold" rating in a report on Wednesday, February 26th.

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.