Boston Partners Acquires 86,633 Shares of Forum Energy Technologies Inc (FET)

Boston Partners increased its holdings in Forum Energy Technologies Inc (NYSE:FET) by 9.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 985,776 shares of the oil and gas company’s stock after buying an additional 86,633 shares during the period. Boston Partners’ holdings in Forum Energy Technologies were worth $15,329,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Forum Energy Technologies by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,678,046 shares of the oil and gas company’s stock worth $88,577,000 after buying an additional 208,851 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Forum Energy Technologies by 33.1% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 4,714,850 shares of the oil and gas company’s stock valued at $73,315,000 after purchasing an additional 1,173,825 shares during the last quarter. Jennison Associates LLC raised its stake in Forum Energy Technologies by 1.7% in the 3rd quarter. Jennison Associates LLC now owns 2,588,049 shares of the oil and gas company’s stock valued at $41,150,000 after purchasing an additional 42,861 shares during the last quarter. Cortina Asset Management LLC raised its stake in Forum Energy Technologies by 6.9% in the 3rd quarter. Cortina Asset Management LLC now owns 1,943,276 shares of the oil and gas company’s stock valued at $30,898,000 after purchasing an additional 125,339 shares during the last quarter. Finally, State Street Corp raised its stake in Forum Energy Technologies by 10.8% in the 2nd quarter. State Street Corp now owns 1,770,754 shares of the oil and gas company’s stock valued at $27,626,000 after purchasing an additional 172,953 shares during the last quarter. Institutional investors and hedge funds own 96.25% of the company’s stock.

Forum Energy Technologies Inc (NYSE:FET) opened at $13.90 on Friday. Forum Energy Technologies Inc has a one year low of $10.05 and a one year high of $26.25. The company has a current ratio of 3.74, a quick ratio of 1.76 and a debt-to-equity ratio of 0.34. The company has a market cap of $1,530.00, a PE ratio of -11.33 and a beta of 1.70.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). Forum Energy Technologies had a negative net margin of 16.85% and a negative return on equity of 3.97%. The company had revenue of $247.70 million for the quarter, compared to analyst estimates of $249.85 million. During the same period in the prior year, the company earned ($0.16) EPS. The company’s revenue was up 68.4% compared to the same quarter last year. sell-side analysts forecast that Forum Energy Technologies Inc will post -0.36 earnings per share for the current year.

Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Forum Energy Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Jefferies Group set a $17.00 target price on shares of Forum Energy Technologies and gave the company a “hold” rating in a research note on Thursday, January 4th. Cowen set a $13.00 target price on shares of Forum Energy Technologies and gave the company a “hold” rating in a research note on Thursday, January 11th. Barclays reissued a “hold” rating and issued a $17.00 target price on shares of Forum Energy Technologies in a research note on Sunday, November 5th. Finally, Scotiabank set a $24.00 target price on shares of Forum Energy Technologies and gave the company a “hold” rating in a research note on Thursday, October 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.93.

COPYRIGHT VIOLATION WARNING: This news story was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright law. The original version of this news story can be read at https://www.com-unik.info/2018/02/09/boston-partners-acquires-86633-shares-of-forum-energy-technologies-inc-fet.html.

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.

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).

Institutional Ownership by Quarter for Forum Energy Technologies (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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit