FORTERRA INC (FRTA) Stake Boosted by Wells Fargo & Company MN

Wells Fargo & Company MN increased its stake in FORTERRA INC (NASDAQ:FRTA) by 168.4% during the first quarter, Holdings Channel reports. The firm owned 107,031 shares of the construction company’s stock after buying an additional 67,149 shares during the period. Wells Fargo & Company MN’s holdings in FORTERRA INC were worth $2,087,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in FRTA. Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of FORTERRA INC during the fourth quarter valued at approximately $109,000. Manchester Capital Management LLC bought a new stake in shares of FORTERRA INC during the first quarter valued at approximately $133,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of FORTERRA INC during the fourth quarter valued at approximately $410,000. Marshall Wace LLP bought a new stake in shares of FORTERRA INC during the fourth quarter valued at approximately $551,000. Finally, Teachers Advisors LLC bought a new stake in shares of FORTERRA INC during the fourth quarter valued at approximately $656,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Institutional Ownership by Quarter for FORTERRA INC (NASDAQ:FRTA)

FORTERRA INC (NASDAQ:FRTA) opened at 7.73 on Friday. The company’s market capitalization is $495.79 million. FORTERRA INC has a 52 week low of $6.01 and a 52 week high of $22.76. The stock’s 50 day moving average is $11.14 and its 200 day moving average is $17.19.

FORTERRA INC (NASDAQ:FRTA) last issued its earnings results on Monday, May 15th. The construction company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.24. The firm had revenue of $338.30 million during the quarter, compared to the consensus estimate of $340.24 million. Analysts predict that FORTERRA INC will post $0.33 EPS for the current fiscal year.

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Several analysts have commented on the stock. Citigroup Inc. dropped their target price on shares of FORTERRA INC from $17.00 to $8.50 and set a “neutral” rating on the stock in a report on Thursday. SunTrust Banks, Inc. cut shares of FORTERRA INC from a “buy” rating to a “hold” rating and set a $14.00 price target for the company. in a research note on Tuesday, May 16th. Royal Bank Of Canada cut shares of FORTERRA INC from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $23.00 to $16.00 in a research note on Tuesday, May 16th. Zacks Investment Research cut shares of FORTERRA INC from a “hold” rating to a “sell” rating in a research note on Thursday, May 18th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $18.00 price target (down from $23.00) on shares of FORTERRA INC in a research note on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.28.

About FORTERRA INC

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