Paradigm Capital Management Inc. NY Invests $137,000 in Forterra Inc (FRTA) Stock
Paradigm Capital Management Inc. NY acquired a new position in Forterra Inc (NASDAQ:FRTA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 30,442 shares of the construction company’s stock, valued at approximately $137,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FRTA. Bank of New York Mellon Corp lifted its holdings in Forterra by 16.2% in the 1st quarter. Bank of New York Mellon Corp now owns 59,939 shares of the construction company’s stock worth $1,169,000 after buying an additional 8,373 shares during the period. American International Group Inc. purchased a new position in shares of Forterra in the 1st quarter valued at approximately $217,000. Vanguard Group Inc. lifted its stake in shares of Forterra by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 1,473,404 shares of the construction company’s stock valued at $28,731,000 after purchasing an additional 141,793 shares during the period. Geode Capital Management LLC lifted its stake in shares of Forterra by 10.8% in the 1st quarter. Geode Capital Management LLC now owns 177,008 shares of the construction company’s stock valued at $3,451,000 after purchasing an additional 17,245 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Forterra by 129.8% in the 1st quarter. Morgan Stanley now owns 159,156 shares of the construction company’s stock valued at $3,104,000 after purchasing an additional 89,897 shares during the period.
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Forterra Inc (NASDAQ:FRTA) traded up $0.33 during mid-day trading on Monday, reaching $8.54. The company had a trading volume of 1,487,800 shares, compared to its average volume of 861,881. Forterra Inc has a one year low of $3.02 and a one year high of $22.76. The company has a debt-to-equity ratio of 15.19, a current ratio of 2.56 and a quick ratio of 1.43.
Forterra (NASDAQ:FRTA) last posted its quarterly earnings data on Thursday, August 10th. The construction company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.11). Forterra had a negative net margin of 5.97% and a negative return on equity of 69.57%. The company had revenue of $436.69 million for the quarter, compared to the consensus estimate of $449.68 million. equities research analysts forecast that Forterra Inc will post -0.41 earnings per share for the current fiscal year.
FRTA has been the subject of a number of research analyst reports. Barclays PLC restated a “buy” rating and issued a $15.00 target price (down previously from $18.00) on shares of Forterra in a research note on Monday, July 24th. ValuEngine upgraded Forterra from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Citigroup Inc. lowered their target price on Forterra from $8.50 to $4.00 and set a “buy” rating for the company in a research note on Monday, August 14th. Zacks Investment Research upgraded Forterra from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research note on Thursday. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $10.00 target price on shares of Forterra in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Forterra currently has a consensus rating of “Hold” and an average target price of $14.50.
In related news, insider Mark D. Carpenter acquired 16,500 shares of Forterra stock in a transaction that occurred on Thursday, September 14th. The stock was bought at an average price of $4.48 per share, with a total value of $73,920.00. Following the transaction, the insider now directly owns 34,461 shares in the company, valued at $154,385.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lori M. Browne acquired 10,000 shares of Forterra stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average cost of $4.27 per share, with a total value of $42,700.00. Following the transaction, the insider now owns 27,057 shares in the company, valued at $115,533.39. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 151,574 shares of company stock valued at $632,916. 0.33% of the stock is owned by corporate insiders.
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