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.
Forterra (NASDAQ:FRTA) last released its earnings results on Thursday, August 10th. The construction company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.11). The firm had revenue of $436.69 million for the quarter, compared to analyst estimates of $449.68 million. Forterra had a negative return on equity of 45.03% and a negative net margin of 4.72%. On average, equities research analysts expect that Forterra Inc will post ($0.53) earnings per share for the current fiscal year.
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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.
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