The Manufacturers Life Insurance Company trimmed its stake in Forestar Group Inc (NYSE:FOR) by 72.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,918 shares of the oil and gas exploration company’s stock after selling 23,525 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Forestar Group were worth $197,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Long Pond Capital LP grew its position in Forestar Group by 221.1% in the third quarter. Long Pond Capital LP now owns 2,129,736 shares of the oil and gas exploration company’s stock valued at $33,347,000 after acquiring an additional 1,466,520 shares during the period. Schf GPE LLC bought a new stake in Forestar Group in the fourth quarter valued at $18,320,000. Principal Financial Group Inc. grew its position in Forestar Group by 25.2% in the third quarter. Principal Financial Group Inc. now owns 319,194 shares of the oil and gas exploration company’s stock valued at $5,490,000 after acquiring an additional 64,266 shares during the period. Cornerstone Capital Management Holdings LLC. grew its position in Forestar Group by 105.2% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 243,000 shares of the oil and gas exploration company’s stock valued at $3,826,000 after acquiring an additional 124,600 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Forestar Group by 24.2% in the third quarter. Ameriprise Financial Inc. now owns 219,600 shares of the oil and gas exploration company’s stock valued at $3,777,000 after acquiring an additional 42,850 shares during the period. Hedge funds and other institutional investors own 23.26% of the company’s stock.
Forestar Group Inc (NYSE:FOR) opened at $21.85 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 17.88 and a quick ratio of 17.88. The company has a market capitalization of $935.24, a price-to-earnings ratio of 19.22 and a beta of 1.84. Forestar Group Inc has a one year low of $12.75 and a one year high of $26.39.
In other Forestar Group news, insider Donald J. Tomnitz acquired 4,000 shares of Forestar Group stock in a transaction on Tuesday, March 6th. The shares were bought at an average price of $24.17 per share, with a total value of $96,680.00. Following the completion of the purchase, the insider now owns 2,000 shares in the company, valued at $48,340. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by insiders.
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About Forestar Group
Forestar Group Inc is a residential and mixed-use real estate development company. The Company operates through three segments. The Real Estate segment secures entitlements and develops infrastructure on its lands, for single-family residential and mixed-use communities. The Mineral resources segment is focused on its owned oil and gas mineral interests through promoting exploration, development and production activities.
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