First Eagle Investment Management LLC Buys 100,100 Shares of Forestar Group Inc. (NYSE:FOR)

First Eagle Investment Management LLC increased its stake in Forestar Group Inc. (NYSE:FOR - Free Report) by 26.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 479,669 shares of the oil and gas exploration company's stock after buying an additional 100,100 shares during the quarter. First Eagle Investment Management LLC owned 0.95% of Forestar Group worth $12,433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FOR. Point72 DIFC Ltd purchased a new position in shares of Forestar Group in the 3rd quarter worth about $32,000. R Squared Ltd purchased a new stake in Forestar Group during the fourth quarter valued at about $95,000. Heck Capital Advisors LLC purchased a new stake in Forestar Group during the fourth quarter valued at about $112,000. SG Americas Securities LLC lifted its holdings in Forestar Group by 43.3% during the fourth quarter. SG Americas Securities LLC now owns 5,727 shares of the oil and gas exploration company's stock valued at $148,000 after purchasing an additional 1,731 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Forestar Group by 10.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 6,562 shares of the oil and gas exploration company's stock valued at $170,000 after purchasing an additional 602 shares during the last quarter. 35.50% of the stock is owned by hedge funds and other institutional investors.

Forestar Group Price Performance

Shares of FOR traded up $0.42 during midday trading on Wednesday, hitting $22.32. 150,940 shares of the company traded hands, compared to its average volume of 181,848. The stock has a 50-day moving average of $23.46 and a 200-day moving average of $27.72. Forestar Group Inc. has a one year low of $20.70 and a one year high of $40.92. The firm has a market cap of $1.13 billion, a P/E ratio of 6.25 and a beta of 1.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.50 and a quick 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 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.33). Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The company had revenue of $250.40 million for the quarter, compared to the consensus estimate of $318.00 million. The company's revenue was down 18.1% compared to the same quarter last year. As a group, sell-side analysts predict that Forestar Group Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FOR has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Forestar Group from $37.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, January 28th. Citigroup dropped their price objective on shares of Forestar Group from $39.00 to $32.00 and set a "buy" rating on the stock in a 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.

Insider Buying and Selling

In related news, CEO Anthony W. Oxley acquired 4,300 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average cost of $23.14 per share, for a total transaction of $99,502.00. Following the completion of the transaction, the chief executive officer now owns 4,300 shares in the company, valued at approximately $99,502. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is owned by company insiders.

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.