Short-term interest on LB Foster (NASDAQ:FSTR) drops 20.2%

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LB Foster (NASDAQ:FSTR – Get Rating) saw a significant drop in short-term interest in the month of September. As of September 15, there was short interest totaling 30,900 shares, down 20.2% from the August 31 total of 38,700 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume of 12,600 shares, the short interest ratio is currently 2.5 days.

Performance of LB Foster shares

NASDAQ: FSTR traded down $0.01 during Friday trading hours, hitting $9.76. The stock recorded a trading volume of 13,759 shares, compared to an average volume of 19,465. The company has a debt ratio of 0.27, a quick ratio of 1.34 and a current ratio of 2.10. . The stock has a 50-day simple moving average of $13.01 and a 200-day simple moving average of $13.50. LB Foster has a 12 month minimum of $9.50 and a 12 month maximum of $17.48. The stock has a market capitalization of $106.67 million, a P/E ratio of 44.37 and a beta of 0.96.

LB Foster (NASDAQ:FSTR – Get Rating) last released its results on Tuesday August 9th. The basic materials company reported earnings per share (EPS) of $0.18 for the quarter, beating analyst consensus estimates of $0.13 by $0.05. LB Foster had a return on equity of 0.18% and a net margin of 0.52%. The company posted revenue of $131.52 million in the quarter, versus a consensus estimate of $127.03 million. On average, research analysts expect LB Foster to post 0.11 EPS for the current fiscal year.

Changes to analyst ratings

A number of analysts have recently commented on the company. B. Riley raised his price target on LB Foster from $14.00 to $15.00 and gave the stock a “neutral” rating in a Wednesday, August 17 report. StockNews.com picked up coverage from LB Foster in a Saturday, September 24 report. They set a “hold” rating on the stock.

Insider activity

In other LB Foster news, CFO William M. Thalman purchased 3,000 shares of the company in a transaction that took place on Monday, September 12. The shares were acquired at an average price of $12.36 per share, with a total value of $37,080.00. Following the completion of the purchase, the CFO now directly owns 27,723 shares of the company, valued at approximately $342,656.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders hold 8.60% of the shares of the company.

LB Foster Institutional Negotiation

A number of large investors have recently bought and sold shares of the company. Systematic Financial Management LP increased its position in LB Foster shares by 8.6% in the fourth quarter. Systematic Financial Management LP now owns 35,788 shares of the basic materials company valued at $492,000 after buying 2,835 additional shares last quarter. Rutabaga Capital Management LLC MA increased its stake in LB Foster by 2.3% during the second quarter. Rutabaga Capital Management LLC MA now owns 398,813 shares of the basic materials company worth $5,133,000 after purchasing an additional 8,950 shares in the last quarter. Russell Investments Group Ltd. increased its stake in LB Foster by 72.7% during the first quarter. Russell Investments Group Ltd. now owns 52,434 shares of the basic materials company worth $805,000 after purchasing an additional 22,076 shares in the last quarter. Finally, Castleview Partners LLC purchased a new stake in LB Foster during the fourth quarter valued at approximately $24,663,000. 69.29% of the shares are held by hedge funds and other institutional investors.

About LB Foster

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LB Foster Company provides products and services designed and manufactured for construction and infrastructure projects worldwide. The Company’s Rail, Technologies and Services segment provides new rails to short-haul passenger and freight railways, industrial companies and rail contractors; used rails; railway accessories, including track spikes and anchors, bolts, angles, rail saddles and other products; power rail, direct fasteners, cover panels and special accessories; and track products, as well as designs and manufactures insulated rail joints and related accessories.

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