Assenagon Asset Management S.A. Grows Position in L.B. Foster Company $FSTR

Assenagon Asset Management S.A. raised its stake in L.B. Foster Company (NASDAQ:FSTR) by 95.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,035 shares of the basic materials company’s stock after acquiring an additional 13,724 shares during the quarter. Assenagon Asset Management S.A.’s holdings in L.B. Foster were worth $782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FSTR. Comerica Bank increased its position in L.B. Foster by 356.7% during the 3rd quarter. Comerica Bank now owns 1,466 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 1,145 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of L.B. Foster by 189.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,131 shares of the basic materials company’s stock worth $47,000 after buying an additional 1,395 shares in the last quarter. State of Wyoming purchased a new stake in shares of L.B. Foster during the second quarter worth about $122,000. BNP Paribas Financial Markets raised its position in shares of L.B. Foster by 469.1% in the third quarter. BNP Paribas Financial Markets now owns 5,765 shares of the basic materials company’s stock valued at $155,000 after buying an additional 4,752 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of L.B. Foster in the fourth quarter valued at approximately $180,000. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

L.B. Foster Stock Performance

L.B. Foster stock opened at $42.76 on Friday. The company has a market cap of $447.23 million, a price-to-earnings ratio of 41.51 and a beta of 1.14. L.B. Foster Company has a 12 month low of $21.67 and a 12 month high of $45.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.22 and a quick ratio of 1.28. The stock’s 50-day moving average is $39.97 and its 200-day moving average is $33.07.

L.B. Foster (NASDAQ:FSTR) last posted its earnings results on Monday, May 4th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.36. L.B. Foster had a net margin of 1.98% and a return on equity of 6.36%. The firm had revenue of $121.14 million during the quarter, compared to the consensus estimate of $104.30 million. Equities analysts anticipate that L.B. Foster Company will post 1.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FSTR. Zacks Research upgraded shares of L.B. Foster from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 2nd. Wall Street Zen upgraded L.B. Foster from a “buy” rating to a “strong-buy” rating in a report on Monday, June 8th. Finally, Weiss Ratings upgraded L.B. Foster from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.00.

L.B. Foster Company Profile

L.B. Foster Company is a diversified infrastructure solutions provider offering products and services to the transportation, energy, and construction markets. Founded in 1902 and headquartered in Pittsburgh, Pennsylvania, the company has built a reputation for delivering specialty materials and engineering solutions that support critical infrastructure projects across various industries.

The company’s operations are organized into three primary segments: Rail Products & Services, Construction Products, and Tubular & Energy Products.