Sapience Investments LLC lifted its holdings in Forum Energy Technologies Inc (NYSE:FET) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,378,120 shares of the oil and gas company’s stock after purchasing an additional 40,940 shares during the quarter. Forum Energy Technologies accounts for approximately 2.9% of Sapience Investments LLC’s investment portfolio, making the stock its 6th largest position. Sapience Investments LLC owned 1.27% of Forum Energy Technologies worth $21,430,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. State Street Corp lifted its position in shares of Forum Energy Technologies by 10.8% during the second quarter. State Street Corp now owns 1,770,754 shares of the oil and gas company’s stock worth $27,626,000 after purchasing an additional 172,953 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Forum Energy Technologies by 18.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,346 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 8,454 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Forum Energy Technologies by 3.4% in the 2nd quarter. California State Teachers Retirement System now owns 122,266 shares of the oil and gas company’s stock valued at $1,907,000 after purchasing an additional 4,034 shares during the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of Forum Energy Technologies in the 3rd quarter valued at approximately $485,000. Finally, Boston Partners purchased a new position in shares of Forum Energy Technologies in the 3rd quarter valued at approximately $14,297,000. 94.23% of the stock is owned by hedge funds and other institutional investors.
Shares of Forum Energy Technologies Inc (FET) opened at $12.00 on Monday. The company has a market capitalization of $1,302.48, a price-to-earnings ratio of -18.46 and a beta of 1.96. 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 Inc has a 1 year low of $10.05 and a 1 year high of $21.67.
Several research analysts have weighed in on the company. ValuEngine downgraded Forum Energy Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded Forum Energy Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. TheStreet upgraded Forum Energy Technologies from a “d+” rating to a “c-” rating in a research note on Friday, February 9th. Jefferies Group upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Tuesday, February 13th. Finally, Piper Jaffray Companies set a $13.00 target price on Forum Energy Technologies and gave the company a “hold” rating in a research note on Monday, February 12th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Forum Energy Technologies presently has a consensus rating of “Hold” and a consensus price target of $15.79.
In other news, CEO Prady Iyyanki purchased 90,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was purchased at an average cost of $10.63 per share, with a total value of $956,700.00. Following the purchase, the chief executive officer now owns 443,417 shares in the company, valued at approximately $4,713,522.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 32.80% of the company’s stock.
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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.
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