Brave Asset Management Inc. bought a new position in Forterra Inc (NASDAQ:FRTA) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 36,245 shares of the construction company’s stock, valued at approximately $163,000. Brave Asset Management Inc. owned about 0.06% of Forterra at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Voya Investment Management LLC purchased a new position in Forterra in the 2nd quarter worth $104,000. Paradigm Capital Management Inc. NY acquired a new stake in Forterra during the 3rd quarter worth about $137,000. Rhumbline Advisers grew its position in Forterra by 28.7% during the 2nd quarter. Rhumbline Advisers now owns 19,598 shares of the construction company’s stock worth $161,000 after purchasing an additional 4,365 shares during the period. Taylor Asset Management Inc. acquired a new stake in Forterra during the 2nd quarter worth about $240,000. Finally, Swiss National Bank acquired a new stake in Forterra during the 2nd quarter worth about $264,000. Institutional investors own 99.85% of the company’s stock.
In other Forterra news, insider Mark D. Carpenter bought 16,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were purchased at an average cost of $4.48 per share, for a total transaction of $73,920.00. Following the transaction, the insider now directly owns 34,461 shares of the company’s stock, valued at $154,385.28. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John R. Mcpherson bought 23,449 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $100,596.21. Following the completion of the transaction, the director now directly owns 24,579 shares in the company, valued at $105,443.91. The disclosure for this purchase can be found here. Insiders have bought a total of 151,574 shares of company stock worth $632,916 over the last 90 days. Insiders own 0.33% of the company’s stock.
Several equities research analysts have weighed in on the company. Citigroup increased their price target on Forterra from $4.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. Zacks Investment Research raised Forterra from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. Barclays downgraded Forterra from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $15.00 to $4.00 in a research report on Friday, August 11th. ValuEngine downgraded Forterra from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, Royal Bank Of Canada increased their price target on Forterra from $3.50 to $8.00 and gave the stock a “market perform” rating in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $11.36.
Forterra Company Profile
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