66,326 Shares in L.B. Foster (NASDAQ:FSTR) Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. acquired a new position in L.B. Foster (NASDAQ:FSTR) during the 4th quarter, HoldingsChannel reports. The fund acquired 66,326 shares of the basic materials company’s stock, valued at approximately $1,784,000.

Separately, MetLife Investment Management LLC lifted its position in shares of L.B. Foster by 129.1% in the third quarter. MetLife Investment Management LLC now owns 5,329 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 3,003 shares in the last quarter. Institutional investors own 80.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut L.B. Foster from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 6th.

L.B. Foster Stock Performance

FSTR opened at $20.51 on Friday. The firm has a market capitalization of $220.54 million, a PE ratio of 5.27 and a beta of 0.97. The company has a current ratio of 2.27, a quick ratio of 1.30 and a debt-to-equity ratio of 0.37. L.B. Foster has a twelve month low of $14.23 and a twelve month high of $30.77. The firm’s 50-day moving average price is $25.60 and its 200 day moving average price is $24.14.

L.B. Foster announced that its board has approved a stock repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 16.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

L.B. Foster Company Profile

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.