First Trust Advisors LP Takes $4.13 Million Position in FORTERRA INC (FRTA)
First Trust Advisors LP bought a new position in shares of FORTERRA INC (NASDAQ:FRTA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 917,494 shares of the construction company’s stock, valued at approximately $4,129,000. First Trust Advisors LP owned 1.43% of FORTERRA INC at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FRTA. Voya Investment Management LLC acquired a new stake in FORTERRA INC during the second quarter worth approximately $104,000. Rhumbline Advisers grew its stake in FORTERRA INC by 28.7% during the second 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. American International Group Inc. acquired a new stake in FORTERRA INC during the first quarter worth approximately $217,000. Taylor Asset Management Inc. acquired a new stake in FORTERRA INC during the second quarter worth approximately $240,000. Finally, Swiss National Bank acquired a new stake in FORTERRA INC during the second quarter worth approximately $264,000.
FORTERRA INC (NASDAQ FRTA) opened at $8.94 on Friday. The company has a debt-to-equity ratio of 15.19, a current ratio of 2.56 and a quick ratio of 1.43. FORTERRA INC has a fifty-two week low of $3.02 and a fifty-two week high of $22.76.
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In other news, CEO Jeff Bradley purchased 25,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were acquired at an average price of $3.97 per share, for a total transaction of $99,250.00. Following the completion of the acquisition, the chief executive officer now owns 109,336 shares in the company, valued at $434,063.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Lori M. Browne purchased 10,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was purchased at an average price of $4.27 per share, for a total transaction of $42,700.00. Following the acquisition, the insider now owns 27,057 shares of the company’s stock, valued at approximately $115,533.39. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 151,574 shares of company stock worth $632,916. Corporate insiders own 0.33% of the company’s stock.
FRTA has been the subject of several recent analyst reports. ValuEngine raised FORTERRA INC from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Barclays PLC raised their target price on FORTERRA INC from $4.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 14th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $3.50 target price on shares of FORTERRA INC in a research note on Tuesday, October 10th. Citigroup Inc. decreased their target price on FORTERRA INC from $8.50 to $4.00 and set a “buy” rating for the company in a research note on Monday, August 14th. Finally, Zacks Investment Research raised FORTERRA INC from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. FORTERRA INC has an average rating of “Hold” and a consensus price target of $11.36.
FORTERRA INC Company Profile
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