Assenagon Asset Management S.A. Grows Stock Position in L.B. Foster Company $FSTR

Assenagon Asset Management S.A. increased its stake in shares of L.B. Foster Company (NASDAQ:FSTR) by 95.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,035 shares of the basic materials company’s stock after purchasing an additional 13,724 shares during the quarter. Assenagon Asset Management S.A. owned 0.27% of L.B. Foster worth $782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brandes Investment Partners LP raised its holdings in L.B. Foster by 1.5% during the fourth quarter. Brandes Investment Partners LP now owns 1,360,415 shares of the basic materials company’s stock worth $36,663,000 after purchasing an additional 20,371 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of L.B. Foster by 7.4% during the 2nd quarter. Geode Capital Management LLC now owns 238,041 shares of the basic materials company’s stock worth $5,207,000 after buying an additional 16,320 shares in the last quarter. State Street Corp raised its stake in shares of L.B. Foster by 2.4% during the 4th quarter. State Street Corp now owns 145,647 shares of the basic materials company’s stock worth $3,925,000 after buying an additional 3,349 shares in the last quarter. Teton Advisors LLC acquired a new stake in shares of L.B. Foster in the 3rd quarter valued at approximately $3,767,000. Finally, Bragg Financial Advisors Inc boosted its stake in shares of L.B. Foster by 0.4% in the fourth quarter. Bragg Financial Advisors Inc now owns 113,765 shares of the basic materials company’s stock valued at $3,066,000 after buying an additional 416 shares in the last quarter. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

L.B. Foster Stock Down 3.0%

L.B. Foster stock opened at $42.76 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.28 and a current ratio of 2.22. The firm has a market capitalization of $447.23 million, a price-to-earnings ratio of 41.51 and a beta of 1.14. L.B. Foster Company has a fifty-two week low of $21.67 and a fifty-two week high of $45.81. The stock’s fifty day moving average is $39.97 and its two-hundred day moving average is $33.07.

L.B. Foster (NASDAQ:FSTR) last released its quarterly earnings data on Monday, May 4th. The basic materials company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.36. The business had revenue of $121.14 million for the quarter, compared to analyst estimates of $104.30 million. L.B. Foster had a net margin of 1.98% and a return on equity of 6.36%. Analysts predict that L.B. Foster Company will post 1.74 EPS for the current fiscal year.

Analysts Set New Price Targets

FSTR has been the subject of several research analyst reports. Weiss Ratings upgraded L.B. Foster from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Wall Street Zen raised shares of L.B. Foster from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 8th. Finally, Zacks Research upgraded shares of L.B. Foster from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.00.

L.B. Foster Profile

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.