Shares are trading at $24.90 just above the 50 day moving average of $23.42 and which is quite a bit higher than the 200 day moving average of $19.66. The 50 day moving average went up $1.48 or +6.30% and the 200 day average went up $5.24 or +26.68%. (NASDAQ:FSTR) shares saw heavy trading volume with 87K shares changing hands by the end of trading on Tuesday. Trading volume was up 61.82% over the stocks average daily volume.
Investors are feeling more bullish on shares of L.B. Foster Company of late as shown by the motion in short interest. The company saw a fall in short interest of -5.20% between September 29, 2017 and October 13, 2017. Short shares decreased from 190,676 to 180,766 over that period. Days to cover decreased 0.0 to 3.0 and the percentage of shorted shares is 0.02% as of October 13.
These funds have shifted positions in (FSTR). Acadian Asset Management LLC augmented its ownership by buying 12,883 shares an increase of 76.6% as of 09/30/2017. Acadian Asset Management LLC owns 29,704 shares worth $676,000. The value of the position overall is up by 87.3%. Strs Ohio expanded its position by buying 17,200 shares an increase of 128.4% in the quarter. Strs Ohio claims 30,600 shares with a value of $696,000. The total value of its holdings increased 142.5%.
As of the end of the quarter Thomson Horstmann & Bryant Inc had disposed of 147,645 shares trimming its holdings by 55.5%. The value of the company’s investment in L.B. Foster Company decreased from $5,709,000 to $2,696,000 a change of 52.8% quarter over quarter. Nationwide Fund Advisors added to its stake by buying 7,481 shares an increase of 19.5%. Nationwide Fund Advisors controls 45,873 shares valued at $1,044,000. The value of the position overall is up by 26.7%.
L.B. Foster Company (Foster), launched on April 15, 1998, is a manufacturer, fabricator and distributor of products and services for the rail, construction, energy and utility markets. The Business’s segments include Rail Products and Services, Construction Products, and Tubular and Energy Services. Its Rail Products segment provides a range of new and used rail, trackwork and accessories to railroads, mines and industry. The Rail segment also designs and produces concrete railroad ties, insulated rail joints, power rail, track fasteners, coverboards and special accessories for mass transit and other rail systems. The Construction Products segment sells and rents steel sheet piling, H-bearing pile and other piling products for foundation and earth retention requirements. The Tubular and Energy Services segment supplies pipe coatings for natural gas pipelines and utilities, blending, injection and metering equipment for the oil and gas market, and produces threaded pipe products for industrial water well and irrigation markets. The Company is a member of a joint venture, LB Pipe & Coupling Products, LLC (LB Pipe JV), in which it has ownership interest. The LB Pipe JV manufactures, markets and sells various precision couplings and other tubular products for the energy, utility and construction markets..Advertisement