Allspring Global Investments Holdings LLC Raises Stock Holdings in Forum Energy Technologies, Inc. (NYSE:FET)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 253,092 shares of the oil and gas company’s stock after purchasing an additional 6,355 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Forum Energy Technologies were worth $5,611,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. UBS Group AG grew its position in shares of Forum Energy Technologies by 3,606.1% during the first quarter. UBS Group AG now owns 1,223 shares of the oil and gas company’s stock worth $31,000 after buying an additional 1,190 shares in the last quarter. California State Teachers Retirement System acquired a new position in Forum Energy Technologies during the 2nd quarter worth $84,000. SG Americas Securities LLC acquired a new position in Forum Energy Technologies during the 3rd quarter worth $114,000. MetLife Investment Management LLC bought a new stake in shares of Forum Energy Technologies in the 2nd quarter worth about $133,000. Finally, Barclays PLC raised its stake in shares of Forum Energy Technologies by 91.8% in the 3rd quarter. Barclays PLC now owns 6,988 shares of the oil and gas company’s stock valued at $168,000 after purchasing an additional 3,344 shares in the last quarter. 65.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP John C. Ivascu sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $19.25, for a total value of $38,500.00. Following the sale, the executive vice president now owns 51,543 shares of the company’s stock, valued at approximately $992,202.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 6.20% of the company’s stock.

Analyst Upgrades and Downgrades

FET has been the subject of a number of research reports. TheStreet downgraded Forum Energy Technologies from a “c” rating to a “d” rating in a research note on Thursday, February 29th. StockNews.com raised Forum Energy Technologies from a “hold” rating to a “buy” rating in a report on Friday, April 12th.

Forum Energy Technologies Stock Performance

Forum Energy Technologies stock opened at $19.01 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.59 and a quick ratio of 1.13. Forum Energy Technologies, Inc. has a 12 month low of $17.65 and a 12 month high of $28.73. The company has a fifty day moving average price of $19.20 and a two-hundred day moving average price of $20.97. The company has a market cap of $233.44 million, a PE ratio of -10.28 and a beta of 2.60.

Forum Energy Technologies (NYSE:FET) last posted its quarterly earnings results on Thursday, February 29th. The oil and gas company reported ($0.39) EPS for the quarter. The business had revenue of $185.20 million during the quarter. Forum Energy Technologies had a negative net margin of 2.56% and a negative return on equity of 0.38%. Research analysts expect that Forum Energy Technologies, Inc. will post 0.13 earnings per share for the current year.

Forum Energy Technologies Profile

Forum Energy Technologies, Inc designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction and services markets, including applications in oil and natural gas, renewable energy, defense, and communications.