First Trust Advisors LP Sells 19,338 Shares of Forterra Inc (FRTA)

First Trust Advisors LP trimmed its holdings in Forterra Inc (NASDAQ:FRTA) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 525,801 shares of the construction company’s stock after selling 19,338 shares during the quarter. First Trust Advisors LP’s holdings in Forterra were worth $3,922,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Forterra by 19.0% during the 2nd quarter. BlackRock Inc. now owns 1,596,301 shares of the construction company’s stock worth $15,531,000 after acquiring an additional 255,108 shares in the last quarter. Swiss National Bank purchased a new stake in shares of Forterra during the 2nd quarter worth about $326,000. Fox Run Management L.L.C. purchased a new stake in shares of Forterra during the 3rd quarter worth about $145,000. Guggenheim Capital LLC boosted its stake in shares of Forterra by 42.9% during the 1st quarter. Guggenheim Capital LLC now owns 40,362 shares of the construction company’s stock worth $336,000 after acquiring an additional 12,121 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Forterra by 3.3% during the 2nd quarter. Royce & Associates LP now owns 1,743,115 shares of the construction company’s stock worth $16,961,000 after acquiring an additional 54,915 shares in the last quarter.

FRTA opened at $4.53 on Friday. Forterra Inc has a twelve month low of $4.19 and a twelve month high of $12.30. The company has a debt-to-equity ratio of 10.83, a quick ratio of 1.24 and a current ratio of 2.22.

Forterra (NASDAQ:FRTA) last released its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). Forterra had a negative return on equity of 23.03% and a net margin of 2.38%. The company had revenue of $434.51 million for the quarter, compared to analyst estimates of $449.72 million. During the same quarter last year, the company earned ($0.18) EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that Forterra Inc will post -0.41 EPS for the current year.

Several research firms have recently issued reports on FRTA. Zacks Investment Research lowered shares of Forterra from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. Barclays set a $9.00 target price on shares of Forterra and gave the stock a “hold” rating in a research note on Wednesday, November 7th. BidaskClub lowered shares of Forterra from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Oppenheimer set a $13.00 target price on shares of Forterra and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Finally, Citigroup increased their target price on shares of Forterra from $9.50 to $10.50 and gave the stock a “neutral” rating in a research note on Thursday, August 9th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $10.89.

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Forterra Company Profile

Forterra, Inc manufactures and sells water and drainage pipe and products in the United States and Eastern Canada. It also manufactures structural and specialty precast products, and precast concrete bridge girders; and pressure, prestressed concrete, and bar-wrapped concrete pipes. The company serves water-related infrastructure applications, including water transmission, distribution, and drainage; and contractors, distributors, municipalities, and utilities waterworks.

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Institutional Ownership by Quarter for Forterra (NASDAQ:FRTA)

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