Redmont Wealth Advisors LLC Invests $738,000 in L.B. Foster Company $FSTR

Redmont Wealth Advisors LLC acquired a new position in L.B. Foster Company (NASDAQ:FSTR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,394 shares of the basic materials company’s stock, valued at approximately $738,000. L.B. Foster accounts for approximately 1.0% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 27th biggest position.

A number of other large investors also recently added to or reduced their stakes in FSTR. First Horizon Advisors Inc. grew its position in shares of L.B. Foster by 250.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,348 shares of the basic materials company’s stock worth $29,000 after buying an additional 963 shares during the period. Tower Research Capital LLC TRC raised its position in shares of L.B. Foster by 189.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,131 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 1,395 shares during the last quarter. State of Wyoming acquired a new position in shares of L.B. Foster in the 2nd quarter valued at $122,000. Arrowstreet Capital Limited Partnership bought a new position in L.B. Foster during the second quarter worth about $201,000. Finally, Marion Wealth Management acquired a new position in shares of L.B. Foster during the 2nd quarter worth about $210,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Singular Research raised shares of L.B. Foster to a “moderate buy” rating in a research note on Monday, November 17th. Zacks Research upgraded L.B. Foster from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of L.B. Foster in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded L.B. Foster from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, L.B. Foster currently has a consensus rating of “Hold” and a consensus price target of $25.00.

Insider Activity

In related news, major shareholder Aron R. English sold 13,512 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $26.79, for a total value of $361,986.48. Following the completion of the transaction, the insider directly owned 1,191,046 shares of the company’s stock, valued at approximately $31,908,122.34. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 106,898 shares of company stock worth $2,872,527. Corporate insiders own 4.70% of the company’s stock.

L.B. Foster Price Performance

NASDAQ:FSTR opened at $31.00 on Thursday. L.B. Foster Company has a 52-week low of $17.16 and a 52-week high of $32.63. The company has a market cap of $322.09 million, a P/E ratio of 68.89 and a beta of 1.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.21 and a current ratio of 2.21. The stock’s 50-day simple moving average is $29.19 and its 200 day simple moving average is $27.20.

About L.B. Foster

L.B. Foster Company is a diversified infrastructure solutions provider offering products and services to the transportation, energy, and construction markets. Founded in 1902 and headquartered in Pittsburgh, Pennsylvania, the company has built a reputation for delivering specialty materials and engineering solutions that support critical infrastructure projects across various industries.

The company’s operations are organized into three primary segments: Rail Products & Services, Construction Products, and Tubular & Energy Products.