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Forterra, Inc. (FRTA)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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11.65-0.20 (-1.69%)
At close: 4:00PM EDT

11.65 0.00 (0.00%)
After hours: 4:04PM EDT

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Trade prices are not sourced from all markets
Previous Close11.85
Open11.84
Bid11.65 x 900
Ask12.07 x 800
Day's Range11.63 - 12.04
52 Week Range3.45 - 17.58
Volume513,889
Avg. Volume613,470
Market Cap762.442M
Beta (5Y Monthly)2.50
PE Ratio (TTM)27.87
EPS (TTM)0.42
Earnings DateNov. 02, 2020 - Nov. 06, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est16.92
  • Why Forterra's Shares Plunged 14.4% on Thursday
    Motley Fool

    Why Forterra's Shares Plunged 14.4% on Thursday

    The company announced the sale of 10 million shares of Forterra stock at a price of $13.50 per share, below yesterday's closing price of $14.61 per share. This is notable because the offering didn't go to Forterra itself, but was rather a sale by the company's largest shareholder, Lone Star Funds. This sale doesn't fundamentally change Forterra's operations at all, so investors shouldn't panic sell.

  • GlobeNewswire

    Forterra Announces Pricing of Secondary Offering of 10,000,000 Shares

    IRVING, Texas, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Forterra, Inc. (the “Company” or “Forterra”) (NASDAQ: FRTA) announced today the pricing of the previously announced underwritten secondary offering by the Company’s largest stockholder, an affiliate of Lone Star Funds (the “Selling Stockholder”), of 10,000,000 shares of common stock of the Company, at a price of $13.50 per share (before underwriting discounts and commissions).  The Selling Stockholder has also granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock of the Company at the public offering price.  The Selling Stockholder will receive all of the proceeds from the sale of shares in this offering.  No shares are being sold by the Company.  The offering is expected to close on September 21, 2020. Credit Suisse, BofA Securities and Citigroup are acting as joint book-running managers and representatives of the underwriters for the offering.  Deutsche Bank Securities, RBC Capital Markets and Truist Securities are acting as book-running managers for the offering.The Company has filed a shelf registration statement (including a prospectus) on Form S-3 with the U.S. Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates.  The registration statement was declared effective on December 27, 2019.  Before you invest, you should read the base prospectus in that registration statement, the accompanying prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company and this offering.  You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov.  Alternatively, copies of the prospectus supplement and accompanying base prospectus relating to the offering, when available, may be obtained from:Credit Suisse Securities (USA) LLC By mail: Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, United States By phone: 1-800-221-1037 By e-mail: usa.prospectus@credit-suisse.comBofA Securities NC1-004-03-43 200 North College Street, 3rd Floor Charlotte, NC 28255-0001  Attention: Prospectus Department Email: dg.prospectus_requests@bofa.comCitigroup c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, New York 11717  telephone: 1-866-803-9204 Deutsche Bank Securities Inc. Attn: Prospectus Group 60 Wall Street New York, NY 10005-2836 Email: prospectus.cpdg@db.com RBC Capital Markets, LLC Attn: Equity Syndicate 200 Vesey Street, 8th Floor New York, NY 10281-8098 Email: equityprospectus@rbccm.com Phone: 899-822-4089Truist Securities, Inc. Attention: Prospectus Department 3333 Peachtree Road NE, 9th floor Atlanta, Georgia 30326 TruistSecurities.prospectus@Truist.com This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About ForterraForterra is a leading manufacturer of water and drainage pipe and products in the U.S. and Eastern Canada for a variety of water-related infrastructure applications, including water transmission, distribution, drainage and stormwater systems.  Based in Irving, Texas, Forterra’s product breadth and scale help make it a preferred supplier for water-related pipe and products, serving a wide variety of customers, including contractors, distributors and municipalities. Forward‐Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended.  Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters.  Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved.  Forward-looking statements are based on historical information available at the time the statements are made and are based on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements.  Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law.  Investors are referred to the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.Contact Information: Simon Chen Vice President – Treasury and Investor Relations 469.299.9113 IR@forterrabp.com

  • GlobeNewswire

    Forterra Announces Voluntary Prepayment of Term Loan

    IRVING, Texas, Sept. 14, 2020 (GLOBE NEWSWIRE) -- Forterra, Inc. (“Forterra” or “the Company”) (NASDAQ: FRTA), a leading manufacturer of water and drainage infrastructure pipe and products in the United States and Eastern Canada, today announced that on September 11, 2020, the Company delivered notice to the administrative agent for its senior term loan regarding the voluntary prepayment of an aggregate of $100 million outstanding under the senior term loan to be made on September 17, 2020. Following this prepayment and the settlement of another $16 million the Company has contracted to repurchase, the Company will have voluntarily prepaid approximately $139 million under the senior term loan in 2020, and the outstanding balance will be approximately $485 million. Forterra’s CEO Karl Watson, Jr. commented, “As we continue to execute on our five improvement pillars, we are expanding our cash generating capability which gives us the opportunity to reduce our long-term debt at a faster rate than previously communicated. This move aligns with our recently announced full year 2020 voluntary prepayment guidance of $125 to $175 million.”About ForterraForterra is a leading manufacturer of water and drainage pipe and products in the U.S. and Eastern Canada for a variety of water-related infrastructure applications, including water transmission, distribution, drainage and stormwater systems.  Based in Irving, Texas, Forterra’s product breadth and scale help make it a preferred supplier for water-related pipe and products, serving a wide variety of customers, including contractors, distributors and municipalities.  For more information on Forterra, visit http://forterrabp.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements.Some of the risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statements include risks and uncertainties relating to the impacts of the COVID-19 pandemic; the level of construction activity, particularly in the residential construction and non-residential construction markets; government funding of infrastructure and related construction activities; the highly competitive nature of our industry and our ability to effectively compete; the availability and price of the raw materials we use in our business; the ability to implement our growth strategy; our dependence on key customers and the absence of long-term agreements with these customers; the level of construction activity in Texas; energy costs; disruption at one or more of our manufacturing facilities or in our supply chain; construction project delays and our inventory management; our ability to successfully integrate acquisitions; labor disruptions and other union activity; a tightening of mortgage lending or mortgage financing requirements; our dispute with HeidelbergCement related to the payment of an earnout; compliance with environmental laws and regulations; compliance with health and safety laws and regulations and other laws and regulations to which we and our products are subject to; our dependence on key executives and key management personnel; our ability, or that of the customers with which we work, to retain and attract additional skilled and non-skilled technical or sales personnel; credit and non-payment risks of our customers; warranty and related claims; legal and regulatory claims; the seasonality of our business and its susceptibility to adverse weather; our contract backlog; our ability to maintain sufficient liquidity and ensure adequate financing or guarantees for large projects; delays or outages in our information technology systems and computer networks; security breaches in our information technology systems and other cybersecurity incidents and additional factors discussed in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.Source: Forterra, Inc.Company Contact Information: Simon Chen Vice President, Treasury and Investor Relations 469-299-9113 IR@forterrabp.com