Cramer Rosenthal Mcglynn LLC lowered its position in shares of Forum Energy Technologies Inc (NYSE:FET) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 923,460 shares of the oil and gas company’s stock after selling 18,200 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 0.85% of Forum Energy Technologies worth $14,360,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its position in shares of Forum Energy Technologies by 86.4% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock worth $152,000 after purchasing an additional 4,429 shares in the last quarter. MML Investors Services LLC acquired a new stake in shares of Forum Energy Technologies during the fourth quarter worth about $159,000. Amalgamated Bank acquired a new stake in shares of Forum Energy Technologies during the fourth quarter worth about $167,000. SG Americas Securities LLC acquired a new stake in shares of Forum Energy Technologies during the third quarter worth about $185,000. Finally, ETRADE Capital Management LLC acquired a new stake in shares of Forum Energy Technologies during the fourth quarter worth about $213,000. Institutional investors and hedge funds own 94.23% of the company’s stock.
In other Forum Energy Technologies news, CEO Prady Iyyanki acquired 90,000 shares of the stock in a transaction on Friday, March 2nd. The shares were bought at an average price of $10.63 per share, with a total value of $956,700.00. Following the acquisition, the chief executive officer now owns 443,417 shares of the company’s stock, valued at $4,713,522.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 32.80% of the stock is currently owned by insiders.
A number of research firms recently issued reports on FET. Jefferies Group raised Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Tuesday, February 13th. TheStreet raised Forum Energy Technologies from a “d+” rating to a “c-” rating in a report on Friday, February 9th. Zacks Investment Research raised Forum Energy Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, January 17th. Cowen set a $13.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, Piper Jaffray Companies set a $13.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a report on Monday, February 12th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $15.79.
Shares of Forum Energy Technologies Inc (NYSE:FET) opened at $12.25 on Wednesday. Forum Energy Technologies Inc has a twelve month low of $10.05 and a twelve month high of $21.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.65 and a quick ratio of 1.61.
Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). Forum Energy Technologies had a negative net margin of 6.99% and a negative return on equity of 2.98%. The business had revenue of $247.70 million during the quarter, compared to analysts’ expectations of $249.85 million. During the same period in the prior year, the firm posted ($0.16) EPS. Forum Energy Technologies’s revenue for the quarter was up 68.4% compared to the same quarter last year. sell-side analysts predict that Forum Energy Technologies Inc will post 0.02 EPS for the current year.
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About Forum Energy Technologies
Forum Energy Technologies, Inc is an oilfield products company. The Company designs, manufactures and distributes products, and engages in aftermarket services, parts supply and related services. The Company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure.
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