Skandinaviska Enskilda Banken AB publ Sells 42,400 Shares of Forestar Group Inc. (NYSE:FOR)

Skandinaviska Enskilda Banken AB publ reduced its holdings in shares of Forestar Group Inc. (NYSE:FOR) by 28.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 105,000 shares of the oil and gas exploration company’s stock after selling 42,400 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.21% of Forestar Group worth $2,688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Woodson Capital Management LP boosted its stake in shares of Forestar Group by 12.0% during the 3rd quarter. Woodson Capital Management LP now owns 560,000 shares of the oil and gas exploration company’s stock worth $18,127,000 after acquiring an additional 60,000 shares during the period. State Street Corp lifted its holdings in Forestar Group by 0.9% during the 3rd quarter. State Street Corp now owns 427,487 shares of the oil and gas exploration company’s stock worth $13,838,000 after purchasing an additional 3,922 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Forestar Group by 13.7% during the 3rd quarter. Principal Financial Group Inc. now owns 360,471 shares of the oil and gas exploration company’s stock worth $11,668,000 after purchasing an additional 43,369 shares during the last quarter. Empowered Funds LLC lifted its holdings in Forestar Group by 3.9% during the 4th quarter. Empowered Funds LLC now owns 330,462 shares of the oil and gas exploration company’s stock worth $8,566,000 after purchasing an additional 12,473 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its holdings in Forestar Group by 6.9% during the 4th quarter. Hennessy Advisors Inc. now owns 254,000 shares of the oil and gas exploration company’s stock worth $6,584,000 after purchasing an additional 16,300 shares during the last quarter. 35.50% of the stock is currently owned by institutional investors.

Forestar Group Price Performance

Shares of NYSE FOR opened at $21.62 on Monday. The stock has a market capitalization of $1.10 billion, a PE ratio of 6.06 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. The business has a fifty day moving average price of $23.62 and a two-hundred day moving average price of $27.85. Forestar Group Inc. has a fifty-two week low of $20.70 and a fifty-two week high of $40.92.

Forestar Group (NYSE:FOR) last announced its quarterly earnings data 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 company had revenue of $250.40 million during the quarter, compared to analyst estimates of $318.00 million. Forestar Group had a net margin of 12.50% and a return on equity of 11.74%. The firm’s revenue was down 18.1% on a year-over-year basis. As a group, equities analysts predict that Forestar Group Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Transactions at Forestar Group

In other Forestar Group news, CEO Anthony W. Oxley purchased 4,300 shares of the stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $23.14 per share, with a total value of $99,502.00. Following the acquisition, the chief executive officer now owns 4,300 shares of the company’s stock, valued at approximately $99,502. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FOR shares. JPMorgan Chase & Co. dropped their price target on Forestar Group from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Citigroup dropped their price target on Forestar Group from $39.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, StockNews.com raised Forestar Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 26th.

Forestar Group Profile

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.