L.B. Foster (NASDAQ:FSTR) Now Covered by B. Riley

B. Riley assumed coverage on shares of L.B. Foster (NASDAQ:FSTR) in a report released on Thursday. The firm issued a neutral rating and a $25.00 price objective on the basic materials company’s stock.

Separately, StockNews.com lowered 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 Price Performance

Shares of NASDAQ:FSTR opened at $20.58 on Thursday. The business has a fifty day moving average price of $25.14 and a 200-day moving average price of $24.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.27 and a quick ratio of 1.30. The company has a market capitalization of $221.30 million, a PE ratio of 5.29 and a beta of 0.97. L.B. Foster has a 1-year low of $14.23 and a 1-year high of $30.77.

L.B. Foster declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 4th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 16.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On L.B. Foster

Several large investors have recently bought and sold shares of FSTR. MetLife Investment Management LLC boosted its holdings in shares of L.B. Foster by 129.1% during the 3rd 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 last quarter. BNP Paribas Financial Markets lifted its position in L.B. Foster by 197.2% during the fourth quarter. BNP Paribas Financial Markets now owns 6,368 shares of the basic materials company’s stock valued at $171,000 after purchasing an additional 4,225 shares during the period. Lazard Asset Management LLC purchased a new stake in L.B. Foster in the fourth quarter worth approximately $349,000. De Lisle Partners LLP grew its position in L.B. Foster by 11.9% in the 3rd quarter. De Lisle Partners LLP now owns 46,944 shares of the basic materials company’s stock worth $961,000 after purchasing an additional 5,000 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new stake in L.B. Foster in the 4th quarter worth approximately $1,784,000. 80.63% of the stock is currently owned by institutional investors.

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.