Fintel reports that Gamco Investors, Inc. Et Al has filed a 13D/A form with the SEC disclosing ownership of 0.81MM shares of Foster (L.B.) Co. (FSTR). This represents 7.41% of the company.
In their previous filing dated October 7, 2022 they reported 0.71MM shares and 6.49% of the company, an increase in shares of 14.27% and an increase in total ownership of 0.92% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 6.85% Upside
As of February 16, 2023, the average one-year price target for Foster is $13.26. The forecasts range from a low of $13.13 to a high of $13.65. The average price target represents an increase of 6.85% from its latest reported closing price of $12.41.
The projected annual revenue for Foster is $562MM, an increase of 18.69%. The projected annual EPS is $0.57.
What is the Fund Sentiment?
There are 131 funds or institutions reporting positions in Foster. This is a decrease of 4 owner(s) or 2.96% in the last quarter. Average portfolio weight of all funds dedicated to FSTR is 0.18%, a decrease of 19.90%. Total shares owned by institutions decreased in the last three months by 2.61% to 9,243K shares. The put/call ratio of FSTR is 0.65, indicating a bullish outlook.
What are large shareholders doing?
22nw holds 1,023K shares representing 9.36% ownership of the company. No change in the last quarter.
Brandes Investment Partners holds 558K shares representing 5.11% ownership of the company. In it’s prior filing, the firm reported owning 690K shares, representing a decrease of 23.66%. The firm decreased its portfolio allocation in FSTR by 41.24% over the last quarter.
EQ ADVISORS TRUST – 1290 VT GAMCO Small Company Value Portfolio Class IA holds 480K shares representing 4.39% ownership of the company. In it’s prior filing, the firm reported owning 460K shares, representing an increase of 4.17%. The firm decreased its portfolio allocation in FSTR by 16.32% over the last quarter.
Rutabaga Capital Management holds 436K shares representing 3.99% ownership of the company. In it’s prior filing, the firm reported owning 399K shares, representing an increase of 8.60%. The firm decreased its portfolio allocation in FSTR by 9.52% over the last quarter.
Renaissance Technologies holds 371K shares representing 3.40% ownership of the company. In it’s prior filing, the firm reported owning 387K shares, representing a decrease of 4.27%. The firm decreased its portfolio allocation in FSTR by 8.00% over the last quarter.
L.B. Foster Background Information
(This description is provided by the company.)
L.B. Foster Company and its subsidiaries provide products and services for the rail industry, and solutions to support critical infrastructure projects. Its innovative engineering and product development solutions inspire the safety, reliability, and performance of its customer’s challenging requirements. The Company maintains locations in North America, Europe, and Asia.
This article originally appeared on Fintel
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