Cramer Rosenthal Mcglynn LLC decreased its position in shares of Forum Energy Technologies Inc (NYSE:FET) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 923,460 shares of the oil and gas company’s stock after selling 18,200 shares during the period. Cramer Rosenthal Mcglynn LLC’s holdings in Forum Energy Technologies were worth $14,360,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Forum Energy Technologies by 86.4% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 9,556 shares of the oil and gas company’s stock worth $152,000 after acquiring an additional 4,429 shares in the last quarter. MML Investors Services LLC purchased a new stake in shares of Forum Energy Technologies during the 4th quarter worth approximately $159,000. Amalgamated Bank purchased a new stake in shares of Forum Energy Technologies during the 4th quarter worth approximately $167,000. SG Americas Securities LLC purchased a new stake in shares of Forum Energy Technologies during the 3rd quarter worth approximately $185,000. Finally, ETRADE Capital Management LLC purchased a new stake in shares of Forum Energy Technologies during the 4th quarter worth approximately $213,000. 94.23% of the stock is currently owned by institutional investors and hedge funds.
Forum Energy Technologies Inc (NYSE FET) opened at $12.25 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.61 and a current ratio of 3.65. Forum Energy Technologies Inc has a 12-month low of $10.05 and a 12-month high of $21.67.
Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). Forum Energy Technologies had a negative return on equity of 2.98% and a negative net margin of 6.99%. The company had revenue of $247.70 million for the quarter, compared to analyst estimates of $249.85 million. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. The company’s revenue for the quarter was up 68.4% on a year-over-year basis. sell-side analysts anticipate that Forum Energy Technologies Inc will post 0.02 earnings per share for the current fiscal year.
In related news, CEO Prady Iyyanki acquired 90,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was purchased at an average cost of $10.63 per share, for a total transaction of $956,700.00. Following the transaction, the chief executive officer now directly owns 443,417 shares of the company’s stock, valued at approximately $4,713,522.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 32.80% of the company’s stock.
Several brokerages have recently commented on FET. Zacks Investment Research lowered Forum Energy Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Cowen set a $13.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Thursday, January 11th. Jefferies Group set a $17.00 price target on Forum Energy Technologies and gave the stock a “hold” rating in a research note on Thursday, January 4th. Capital One Financial raised Forum Energy Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday, February 9th. Finally, B. Riley set a $13.00 price target on Forum Energy Technologies and gave the stock a “neutral” rating in a research note on Monday, February 12th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $15.79.
Forum Energy Technologies Company Profile
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.
Want to see what other hedge funds are holding FET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Forum Energy Technologies Inc (NYSE:FET).
Receive News & Ratings for Forum Energy Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Energy Technologies and related companies with MarketBeat.com's FREE daily email newsletter.