Heartland Advisors Inc. Buys 42,600 Shares of Forestar Group Inc. (NYSE:FOR)

Heartland Advisors Inc. boosted its holdings in Forestar Group Inc. (NYSE:FOR - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 392,600 shares of the oil and gas exploration company's stock after buying an additional 42,600 shares during the quarter. Heartland Advisors Inc. owned 0.77% of Forestar Group worth $10,176,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Forestar Group by 77.3% during the fourth quarter. JPMorgan Chase & Co. now owns 134,238 shares of the oil and gas exploration company's stock valued at $3,479,000 after purchasing an additional 58,525 shares during the last quarter. LPL Financial LLC raised its stake in Forestar Group by 3.5% during the 4th quarter. LPL Financial LLC now owns 124,182 shares of the oil and gas exploration company's stock valued at $3,219,000 after buying an additional 4,161 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Forestar Group during the 4th quarter valued at $498,000. American Century Companies Inc. lifted its holdings in shares of Forestar Group by 11.3% during the 4th quarter. American Century Companies Inc. now owns 584,222 shares of the oil and gas exploration company's stock valued at $15,143,000 after buying an additional 59,427 shares during the period. Finally, Summit Global Investments grew its holdings in shares of Forestar Group by 3.7% in the fourth quarter. Summit Global Investments now owns 33,194 shares of the oil and gas exploration company's stock worth $860,000 after acquiring an additional 1,192 shares during the period. Institutional investors own 35.50% of the company's stock.

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Analyst Upgrades and Downgrades

FOR has been the topic of several research reports. JPMorgan Chase & Co. dropped their target price on Forestar Group from $37.00 to $30.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. StockNews.com raised shares of Forestar Group from a "sell" rating to a "hold" rating in a report on Wednesday, February 26th. Finally, Citigroup reduced their target price on shares of Forestar Group from $39.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, January 23rd.

Forestar Group Stock Performance

Shares of FOR stock traded up $0.05 during trading hours on Tuesday, reaching $21.19. 28,287 shares of the company traded hands, compared to its average volume of 181,008. The firm has a 50-day moving average price of $22.66 and a 200 day moving average price of $27.19. The company has a market cap of $1.07 billion, a P/E ratio of 5.94 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. Forestar Group Inc. has a 12-month low of $20.70 and a 12-month high of $40.86.

Forestar Group (NYSE:FOR - Get Free Report) last issued 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). The firm had revenue of $250.40 million for the quarter, compared to analysts' expectations of $318.00 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The firm's quarterly 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 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Forestar Group news, CEO Anthony W. Oxley bought 4,300 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $23.14 per share, with a total value of $99,502.00. Following the purchase, 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 document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by 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.