ELCO Management Co. LLC Raises Stock Position in Forterra Inc (NASDAQ:FRTA)

ELCO Management Co. LLC lifted its stake in shares of Forterra Inc (NASDAQ:FRTA) by 131.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,727 shares of the construction company’s stock after acquiring an additional 23,154 shares during the quarter. ELCO Management Co. LLC’s holdings in Forterra were worth $202,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Forterra by 22.6% during the fourth quarter. Principal Financial Group Inc. now owns 17,102 shares of the construction company’s stock worth $64,000 after acquiring an additional 3,152 shares during the period. Geode Capital Management LLC increased its holdings in Forterra by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 190,968 shares of the construction company’s stock valued at $718,000 after buying an additional 9,319 shares during the period. Spark Investment Management LLC increased its holdings in Forterra by 41.1% during the first quarter. Spark Investment Management LLC now owns 113,700 shares of the construction company’s stock valued at $479,000 after buying an additional 33,100 shares during the period. Bank of New York Mellon Corp increased its holdings in Forterra by 77.6% during the fourth quarter. Bank of New York Mellon Corp now owns 100,921 shares of the construction company’s stock valued at $380,000 after buying an additional 44,084 shares during the period. Finally, Paradigm Capital Management Inc. NY increased its holdings in Forterra by 225.8% during the first quarter. Paradigm Capital Management Inc. NY now owns 101,000 shares of the construction company’s stock valued at $426,000 after buying an additional 70,000 shares during the period. 97.11% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the stock. Barclays set a $6.00 price objective on shares of Forterra and gave the company a “hold” rating in a report on Wednesday, May 8th. ValuEngine raised shares of Forterra from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Goldman Sachs Group raised shares of Forterra from a “sell” rating to a “buy” rating and lifted their price objective for the company from $4.25 to $8.00 in a report on Wednesday, August 7th. Zacks Investment Research lowered shares of Forterra from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, BidaskClub raised shares of Forterra from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $7.17.

In other news, insider Vikrant Bhatia bought 17,175 shares of the stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $6.56 per share, for a total transaction of $112,668.00. Following the completion of the purchase, the insider now directly owns 62,467 shares in the company, valued at $409,783.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Karl Watson bought 65,200 shares of the stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $6.94 per share, with a total value of $452,488.00. Following the completion of the purchase, the chief executive officer now owns 65,200 shares of the company’s stock, valued at $452,488. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 92,375 shares of company stock valued at $633,556. 0.84% of the stock is owned by insiders.

FRTA stock traded down $0.13 during trading on Thursday, hitting $6.72. 1,352 shares of the company’s stock traded hands, compared to its average volume of 267,692. The company has a market capitalization of $436.59 million, a price-to-earnings ratio of -15.23 and a beta of 2.18. The stock’s fifty day moving average price is $5.97. The company has a debt-to-equity ratio of 14.94, a current ratio of 2.47 and a quick ratio of 1.26. Forterra Inc has a 1 year low of $3.25 and a 1 year high of $9.71.

Forterra (NASDAQ:FRTA) last announced its earnings results on Monday, August 5th. The construction company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The company had revenue of $410.20 million during the quarter, compared to the consensus estimate of $422.54 million. Forterra had a negative net margin of 2.27% and a negative return on equity of 31.23%. Forterra’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm earned $0.11 earnings per share.

Forterra Profile

Forterra, Inc manufactures and sells pipe and precast products the United States, Canada, and Mexico. It operates through Drainage Pipe & Products; and Water Pipe & Products segments. It offers concrete drainage pipes used for storm water applications, residential and non-residential site developments, sanitary sewers, low-pressure sewer force mains, tunneled systems, treatment plant piping, and utility tunnels.

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Institutional Ownership by Quarter for Forterra (NASDAQ:FRTA)

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