L.B. Foster (NASDAQ:FSTR) Sees Large Growth in Short Interest

L.B. Foster (NASDAQ:FSTR) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 129,300 shares, a growth of 18.5% from the December 15th total of 109,100 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 39,100 shares, the days-to-cover ratio is currently 3.3 days.

Wall Street Analyst Weigh In

FSTR has been the subject of a number of analyst reports. StockNews.com upgraded shares of L.B. Foster from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th. B. Riley lifted their price objective on shares of L.B. Foster from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in L.B. Foster stock. MetLife Investment Management LLC increased its position in shares of L.B. Foster (NASDAQ:FSTR) by 129.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,329 shares of the basic materials company’s stock after purchasing an additional 3,003 shares during the quarter. MetLife Investment Management LLC’s holdings in L.B. Foster were worth $109,000 as of its most recent SEC filing. Institutional investors and hedge funds own 80.63% of the company’s stock.

L.B. Foster Stock Up 1.6 %

L.B. Foster stock traded up $0.43 during midday trading on Friday, hitting $27.82. 18,800 shares of the stock were exchanged, compared to its average volume of 25,800. L.B. Foster has a 52-week low of $14.23 and a 52-week high of $30.77. The stock has a market capitalization of $301.29 million, a price-to-earnings ratio of 7.15 and a beta of 0.97. The business’s 50-day moving average price is $27.17 and its 200-day moving average price is $22.63. The company has a quick ratio of 1.30, a current ratio of 2.27 and a debt-to-equity ratio of 0.37.

About L.B. Foster

L.B. Foster Company provides engineered and manufactured products and services for the building and infrastructure projects in the United States, Canada, the United Kingdom, and internationally. It operates through 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, as well as used rails; rail accessories, such as rack spikes, bolts, angle bars, tie plates, and other products; insulated rail joints and related accessories; fixation fasteners, coverboards, and special accessories; and trackwork products.