LB Foster (NASDAQ:FSTR – Get Rating) benefited from a significant drop in short-term interest in October. As of Oct. 31, there was short interest totaling 20,400 shares, down 24.4% from the total of 27,000 shares as of Oct. 15. Currently, 0.2% of the stock’s shares are sold short. Based on an average daily trading volume of 15,700 shares, the short interest ratio is currently 1.3 days.
LB Foster Price Performance
FSTR stock traded down $0.35 on Friday, hitting $12.68. 12,177 shares of the company were traded, against an average volume of 16,752. LB Foster has a 12-month low of $9.01 and a 12-month high of $17.43. The company has a debt ratio of 0.27, a quick ratio of 1.34 and a current ratio of 2.10. The company’s fifty-day moving average is $10.57 and its two-hundred-day moving average is $12.51.
Changes to analyst ratings
A number of stock analysts have weighed in on the stock recently. B. Riley cut his price target on LB Foster shares from $15.00 to $13.00 in a research report on Thursday. StockNews.com picked up coverage of LB Foster stocks in a Wednesday, October 26 research report. They issued a “hold” rating for the company.
Insider buying and selling
Separately, CFO William M. Thalman acquired 3,000 shares of the company in a transaction that took place on Monday, September 12. The shares were purchased at an average price of $12.36 per share, with a total value of $37,080.00. Following the completion of the acquisition, the CFO now owns 27,723 shares of the company, valued at $342,656.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. 8.60% of the shares are held by insiders.
Hedge funds weigh on LB Foster
Several institutional investors and hedge funds have been buying and selling stocks recently. Russell Investments Group Ltd. increased its stake in LB Foster by 72.7% during the first quarter. Russell Investments Group Ltd. now owns 52,434 shares of the basic materials company worth $805,000 after purchasing an additional 22,076 shares during the period. Systematic Financial Management LP increased its stake in LB Foster to 98.8% during the first quarter. Systematic Financial Management LP now owns 71,148 shares of the basic materials company worth $1,094,000 after purchasing an additional 35,360 shares during the period. Finally, Rutabaga Capital Management LLC MA increased its stake in LB Foster by 9.4% during the third quarter. Rutabaga Capital Management LLC MA now owns 436,351 shares of the basic materials company worth $4,259,000 after purchasing an additional 37,538 shares during the period. Institutional investors and hedge funds hold 69.29% of the company’s shares.
LB Foster Company Profile
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LB Foster Company provides products and services designed and manufactured for construction and infrastructure projects worldwide. The Company’s Rail, Technologies and Services segment provides new rails to short-haul passenger and freight railways, industrial companies and rail contractors; used rails; railway accessories, including track spikes and anchors, bolts, angles, rail saddles and other products; power rail, direct fasteners, cover panels and special accessories; and track products, as well as designs and manufactures insulated rail joints and related accessories.
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