Martingale Asset Management L P trimmed its position in shares of L.B. Foster Co (NASDAQ:FSTR) by 20.8% during the 4th quarter, Holdings Channel reports. The firm owned 41,929 shares of the basic materials company’s stock after selling 11,010 shares during the quarter. Martingale Asset Management L P’s holdings in L.B. Foster were worth $667,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Ramsey Quantitative Systems grew its stake in L.B. Foster by 80.2% in the 4th quarter. Ramsey Quantitative Systems now owns 7,144 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 3,180 shares in the last quarter. Matarin Capital Management LLC purchased a new stake in L.B. Foster during the third quarter valued at approximately $387,000. Bank of New York Mellon Corp lifted its position in L.B. Foster by 22.0% during the fourth quarter. Bank of New York Mellon Corp now owns 47,737 shares of the basic materials company’s stock valued at $759,000 after acquiring an additional 8,597 shares during the last quarter. Panagora Asset Management Inc. lifted its position in L.B. Foster by 48.5% during the third quarter. Panagora Asset Management Inc. now owns 47,851 shares of the basic materials company’s stock valued at $983,000 after acquiring an additional 15,623 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in L.B. Foster by 12.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,475 shares of the basic materials company’s stock valued at $996,000 after acquiring an additional 5,225 shares during the last quarter. Institutional investors and hedge funds own 66.34% of the company’s stock.
NASDAQ:FSTR opened at $17.65 on Friday. L.B. Foster Co has a 52 week low of $13.91 and a 52 week high of $26.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.83 and a quick ratio of 0.90. The company has a market cap of $189.76 million, a P/E ratio of 20.76 and a beta of 2.08.
FSTR has been the subject of a number of analyst reports. ValuEngine cut shares of L.B. Foster from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. B. Riley initiated coverage on shares of L.B. Foster in a research report on Wednesday, March 6th. They set a “buy” rating and a $25.00 target price for the company.
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L.B. Foster Company Profile
L.B. Foster Company manufactures and distributes products and services for the transportation and energy infrastructure worldwide. Its Rail Products and Services segment offers new rail for passenger and shortline freight railroads, industrial companies, and rail contractors; used rail; rail accessories, such as track spikes, bolts, angle bars, and other products; power rail, direct fixation fasteners, coverboards, and special accessories; and trackwork products, as well as engineers and fabricates insulated rail joints and related accessories.
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