According to Zacks, “L. B. Foster Company is engaged in the manufacture, fabrication and distribution of rail and trackwork, piling, highway products and tubular products. For rail markets, Foster provides a full line of new and used rail, trackwork and accessories to railroads, mines and industry. Foster also sells and rents steel sheet piling and H-bearing pile for foundation and earth retention requirements for the construction industry. For tubular markets, foster supplies pipe and pipe coatings for pipelines and produces pipe-related products for special markets. “
Separately, B. Riley reissued a “buy” rating and set a $20.00 price objective (up previously from $19.00) on shares of L.B. Foster in a research report on Wednesday, March 3rd.
L.B. Foster (NASDAQ:FSTR) last issued its quarterly earnings results on Sunday, May 2nd. The basic materials company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.09). L.B. Foster had a return on equity of 2.61% and a net margin of 5.85%. Analysts anticipate that L.B. Foster will post 0.4 EPS for the current year.
A hedge fund recently raised its stake in L.B. Foster stock. Rutabaga Capital Management LLC MA grew its position in shares of L.B. Foster (NASDAQ:FSTR) by 28.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 344,590 shares of the basic materials company’s stock after buying an additional 76,381 shares during the quarter. L.B. Foster accounts for approximately 3.1% of Rutabaga Capital Management LLC MA’s investment portfolio, making the stock its 3rd biggest holding. Rutabaga Capital Management LLC MA owned 3.21% of L.B. Foster worth $5,186,000 at the end of the most recent quarter. Institutional investors own 71.09% of the company’s stock.
About L.B. Foster
L.B. Foster Company provides products and services for the rail industry and solutions to support critical infrastructure projects worldwide. The company operates in two segments, Rail Technologies and Services; and Infrastructure Solutions. The Rail Technologies and Services segment offers new rail to passenger and short line freight railroads, industrial companies, and rail contractors; used rails; rail accessories, including track spikes and anchors, bolts, angle bars, tie plates, and other products; power rail, direct fixation fasteners, coverboards, and special accessories; and trackwork products, as well as engineers and manufactures insulated rail joints and related accessories.
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