Goldman Sachs Group Inc. boosted its stake in Forterra Inc (NASDAQ:FRTA) by 88.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 425,456 shares of the construction company’s stock after buying an additional 199,520 shares during the period. Goldman Sachs Group Inc. owned approximately 0.66% of Forterra worth $3,502,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Credit Agricole S A acquired a new stake in shares of Forterra during the 1st quarter worth approximately $139,000. American International Group Inc. bought a new position in Forterra in the 1st quarter valued at approximately $217,000. Voya Investment Management LLC bought a new position in Forterra in the 2nd quarter valued at approximately $104,000. Rhumbline Advisers lifted its stake in Forterra by 28.7% in the 2nd quarter. Rhumbline Advisers now owns 19,598 shares of the construction company’s stock valued at $161,000 after purchasing an additional 4,365 shares during the last quarter. Finally, Menta Capital LLC bought a new position in shares of Forterra during the first quarter valued at $434,000.
In other news, CFO William Matthew Brown acquired 22,200 shares of Forterra stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $4.80 per share, with a total value of $106,560.00. Following the completion of the purchase, the chief financial officer now owns 47,501 shares in the company, valued at $228,004.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chadwick S. Suss purchased 12,125 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was bought at an average cost of $4.60 per share, with a total value of $55,775.00. Following the purchase, the director now owns 12,125 shares in the company, valued at $55,775. The disclosure for this purchase can be found here. In the last three months, insiders bought 173,774 shares of company stock worth $739,476. Insiders own 0.33% of the company’s stock.
FRTA has been the subject of several analyst reports. Barclays PLC reaffirmed a “buy” rating and set a $15.00 price target (down previously from $18.00) on shares of Forterra in a research note on Monday, July 24th. ValuEngine upgraded shares of Forterra from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Citigroup Inc. reduced their price target on shares of Forterra from $8.50 to $4.00 and set a “buy” rating for the company in a report on Monday, August 14th. Zacks Investment Research upgraded shares of Forterra from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Thursday. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $10.00 price objective on shares of Forterra in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.50.
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Shares of Forterra Inc (FRTA) traded up $0.33 during mid-day trading on Friday, reaching $8.54. 1,487,800 shares of the company’s stock traded hands, compared to its average volume of 861,881. The company has a debt-to-equity ratio of 14.18, a quick ratio of 1.60 and a current ratio of 2.85. Forterra Inc has a twelve month low of $3.02 and a twelve month high of $22.76.
Forterra (NASDAQ:FRTA) last posted its quarterly earnings results on Thursday, August 10th. The construction company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.11). Forterra had a negative net margin of 6.12% and a negative return on equity of 69.06%. The business had revenue of $436.69 million during the quarter, compared to the consensus estimate of $449.68 million. research analysts predict that Forterra Inc will post -0.41 earnings per share for the current year.
Forterra Company Profile
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