Hillsdale Investment Management Inc. Makes New $1.78 Million Investment in L.B. Foster (NASDAQ:FSTR)

Hillsdale Investment Management Inc. acquired a new stake in L.B. Foster (NASDAQ:FSTR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 66,326 shares of the basic materials company’s stock, valued at approximately $1,784,000. Hillsdale Investment Management Inc. owned 0.61% of L.B. Foster as of its most recent SEC filing.

Separately, MetLife Investment Management LLC lifted its holdings in 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 during the period. 80.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

L.B. Foster Trading Down 0.6 %

FSTR stock opened at $20.51 on Friday. L.B. Foster has a 52-week low of $14.23 and a 52-week high of $30.77. The company has a quick ratio of 1.30, a current ratio of 2.27 and a debt-to-equity ratio of 0.37. The firm has a market cap of $220.54 million, a P/E ratio of 5.27 and a beta of 0.97. The company’s 50-day simple moving average is $25.60 and its 200-day simple moving average is $24.14.

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

L.B. Foster 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.