Greywolf Capital Management LP purchased a new position in shares of Forterra Inc (NASDAQ:FRTA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 285,000 shares of the construction company’s stock, valued at approximately $2,346,000. Forterra accounts for approximately 0.7% of Greywolf Capital Management LP’s investment portfolio, making the stock its 7th biggest position. Greywolf Capital Management LP owned about 0.44% of Forterra at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of FRTA. Teachers Advisors LLC acquired a new position in shares of Forterra during the 4th quarter worth $656,000. Wells Fargo & Company MN grew its stake in shares of Forterra by 168.4% during the 1st quarter. Wells Fargo & Company MN now owns 107,031 shares of the construction company’s stock worth $2,087,000 after purchasing an additional 67,149 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Forterra by 16.2% during 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 purchasing an additional 8,373 shares during the period. TD Asset Management Inc. acquired a new position in shares of Forterra during the 1st quarter worth $285,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Forterra during the 1st quarter worth $263,000.
Forterra Inc (NASDAQ:FRTA) traded up 3.510% during trading on Tuesday, hitting $5.455. 757,653 shares of the stock were exchanged. The stock’s 50 day moving average is $4.50 and its 200-day moving average is $4.50. The company’s market cap is $350.23 million. Forterra Inc has a one year low of $3.66 and a one year high of $22.76.
COPYRIGHT VIOLATION WARNING: This news story was first published by Community Financial News and is the property of of Community Financial News. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://www.com-unik.info/2017/10/10/greywolf-capital-management-lp-purchases-shares-of-285000-forterra-inc-frta.html.
A number of equities analysts have recently weighed in on FRTA shares. Zacks Investment Research raised shares of Forterra from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th. Citigroup Inc. lowered their price target on shares of Forterra from $17.00 to $8.50 and set a “neutral” rating on the stock in a research note on Thursday, June 22nd. ValuEngine cut shares of Forterra from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Barclays PLC reaffirmed a “buy” rating and set a $15.00 price target (down from $18.00) on shares of Forterra in a research note on Monday, July 24th. Finally, Royal Bank Of Canada lowered their price target on shares of Forterra from $16.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $14.06.
In related news, Director John R. Mcpherson purchased 23,449 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were purchased at an average price of $4.29 per share, with a total value of $100,596.21. Following the purchase, the director now owns 24,579 shares of the company’s stock, valued at approximately $105,443.91. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William Matthew Brown purchased 22,200 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost of $4.80 per share, for a total transaction of $106,560.00. Following the purchase, the chief financial officer now directly owns 47,501 shares in the company, valued at approximately $228,004.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 173,774 shares of company stock worth $739,476. 0.33% of the stock is owned by corporate insiders.
Want to see what other hedge funds are holding FRTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Forterra Inc (NASDAQ:FRTA).
What are top analysts saying about Forterra Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Forterra Inc and related companies.