L.B. Foster Co. (FSTR) Shares Gap Up Following Insider Buying Activity
L.B. Foster Co. (NASDAQ:FSTR)’s share price gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $12.06, but opened at $12.10. L.B. Foster shares last traded at $12.85, with a volume of 37,029 shares.
Specifically, Director Robert S. Purgason purchased 10,000 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were bought at an average price of $11.24 per share, with a total value of $112,400.00. Following the completion of the transaction, the director now directly owns 27,915 shares in the company, valued at approximately $313,764.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bradley Vizi purchased 13,397 shares of the business’s stock in a transaction on Friday, October 14th. The shares were purchased at an average cost of $11.99 per share, for a total transaction of $160,630.03. The disclosure for this purchase can be found here. Corporate insiders own 15.20% of the company’s stock.
The stock’s market cap is $133.42 million. The company has a 50-day moving average of $11.86 and a 200-day moving average of $12.71.
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L.B. Foster (NASDAQ:FSTR) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.30. The firm had revenue of $136 million for the quarter, compared to analyst estimates of $152.65 million. L.B. Foster had a positive return on equity of 1.90% and a negative net margin of 25.79%. The business’s revenue was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, equities research analysts expect that L.B. Foster Co. will post ($0.36) EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were paid a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.32%. L.B. Foster’s dividend payout ratio (DPR) is currently -1.10%.
Large investors have recently bought and sold shares of the stock. Algert Global LLC bought a new stake in L.B. Foster during the third quarter worth about $129,000. Numeric Investors LLC bought a new stake in L.B. Foster during the second quarter worth about $583,000. AQR Capital Management LLC raised its stake in L.B. Foster by 199.2% in the second quarter. AQR Capital Management LLC now owns 84,001 shares of the company’s stock worth $915,000 after buying an additional 55,927 shares during the period. Parametric Portfolio Associates LLC raised its stake in L.B. Foster by 2.8% in the second quarter. Parametric Portfolio Associates LLC now owns 308,097 shares of the company’s stock worth $3,355,000 after buying an additional 8,270 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in L.B. Foster during the second quarter worth about $127,000. Institutional investors and hedge funds own 58.28% of the company’s stock.
L.B. Foster Company Profile
L.B. Foster Company is a manufacturer, fabricator and distributor of products and services for the rail, construction, energy and utility markets. The Company’s segments include Rail Products and Services, Construction Products, and Tubular and Energy Services. Its Rail Products segment provides a range of new and used rail, trackwork and accessories to railroads, mines and industry.
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