Trade Report: The Virginia Retirement Systems ET AL Acquires New Position in L.B. Foster Co. (FSTR)

The Virginia Retirement Systems ET AL Acquires New Position in L.B. Foster Co. (FSTR)

Virginia Retirement Systems ET AL purchased a new position in L.B. Foster Co. (NASDAQ:FSTR) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 31,000 shares of the company’s stock, valued at approximately $338,000. Virginia Retirement Systems ET AL owned approximately 0.30% of L.B. Foster at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FSTR. Dimensional Fund Advisors LP increased its stake in shares of L.B. Foster by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 555,667 shares of the company’s stock worth $6,051,000 after buying an additional 35,981 shares during the last quarter. Acrospire Investment Management LLC bought a new position in L.B. Foster during the second quarter worth about $154,000. Nationwide Fund Advisors boosted its position in L.B. Foster by 58.3% in the second quarter. Nationwide Fund Advisors now owns 34,944 shares of the company’s stock worth $381,000 after buying an additional 12,875 shares during the period. JPMorgan Chase & Co. bought a new position in L.B. Foster during the second quarter worth about $120,000. Finally, Ameriprise Financial Inc. boosted its position in L.B. Foster by 27.0% in the second quarter. Ameriprise Financial Inc. now owns 533,325 shares of the company’s stock worth $5,806,000 after buying an additional 113,408 shares during the period. Hedge funds and other institutional investors own 58.27% of the company’s stock.

L.B. Foster Co. (NASDAQ:FSTR) opened at 12.17 on Friday. L.B. Foster Co. has a 52-week low of $8.80 and a 52-week high of $20.77. The company’s market cap is $126.36 million. The stock’s 50 day moving average is $11.80 and its 200-day moving average is $12.84.

L.B. Foster (NASDAQ:FSTR) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by $0.30. L.B. Foster had a positive return on equity of 1.90% and a negative net margin of 25.79%. The company had revenue of $136 million for the quarter, compared to the consensus estimate of $152.65 million. During the same period in the prior year, the firm posted $0.52 earnings per share. The business’s revenue was down 20.7% on a year-over-year basis. Equities research analysts predict that L.B. Foster Co. will post ($0.36) EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Wednesday, September 7th. L.B. Foster’s dividend payout ratio is currently -1.10%.

In related news, Director Robert S. Purgason acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was bought at an average cost of $11.24 per share, with a total value of $112,400.00. Following the acquisition, the director now owns 27,915 shares of the company’s stock, valued at approximately $313,764.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradley Vizi acquired 57,452 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were bought at an average cost of $11.07 per share, with a total value of $635,993.64. The disclosure for this purchase can be found here. Insiders own 15.20% of the company’s stock.

L.B. Foster Company Profile

L.B. Foster Company is a manufacturer, fabricator and distributor of products and services for the rail, construction, energy and utility markets. The Company’s segments include Rail Products and Services, Construction Products, and Tubular and Energy Services. Its Rail Products segment provides a range of new and used rail, trackwork and accessories to railroads, mines and industry.

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