Hillsdale Investment Management Inc. bought a new stake in shares of L.B. Foster (NASDAQ:FSTR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 66,326 shares of the basic materials company's stock, valued at approximately $1,784,000. Hillsdale Investment Management Inc. owned 0.61% of L.B. Foster as of its most recent filing with the Securities and Exchange Commission.
Separately, MetLife Investment Management LLC boosted its stake in shares of L.B. Foster by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 5,329 shares of the basic materials company's stock valued at $109,000 after purchasing an additional 3,003 shares during the last quarter. Institutional investors and hedge funds own 80.63% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. B. Riley assumed coverage on shares of L.B. Foster in a report on Thursday. They issued a "neutral" rating and a $25.00 target price on the stock. StockNews.com lowered L.B. Foster from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 6th.
Check Out Our Latest Report on FSTR
L.B. Foster Trading Down 1.2 %
Shares of L.B. Foster stock traded down $0.24 on Thursday, reaching $20.58. 40,547 shares of the company's stock were exchanged, compared to its average volume of 54,233. The company has a market capitalization of $221.30 million, a P/E ratio of 5.29 and a beta of 0.97. L.B. Foster has a 52 week low of $14.23 and a 52 week high of $30.77. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.30 and a current ratio of 2.27. The firm's 50-day moving average is $25.14 and its two-hundred day moving average is $24.16.
L.B. Foster announced that its board has authorized a stock repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the basic materials company to purchase up to 16.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.
L.B. Foster Company Profile
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Free Report)
L.B. Foster Company provides engineered and manufactured products and services for the building and infrastructure projects in the United States, Canada, the United Kingdom, and internationally. It operates through two segments: Rail, Technologies, and Services; and Infrastructure Solutions. The Rail, Technologies, and Services segment offers new rail to passenger and short line freight railroads, industrial companies, and rail contractors, as well as used rails; rail accessories, such as rack spikes, bolts, angle bars, tie plates, and other products; insulated rail joints and related accessories; fixation fasteners, coverboards, and special accessories; and trackwork products.
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