Man Group plc Makes New $313,000 Investment in Forum Energy Technologies, Inc. $FET

Man Group plc bought a new stake in shares of Forum Energy Technologies, Inc. (NYSE:FET) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,237 shares of the oil and gas company’s stock, valued at approximately $313,000. Man Group plc owned about 0.06% of Forum Energy Technologies at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new position in shares of Forum Energy Technologies in the 4th quarter valued at about $35,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Forum Energy Technologies in the fourth quarter worth about $37,000. Tower Research Capital LLC TRC lifted its holdings in Forum Energy Technologies by 558.7% in the second quarter. Tower Research Capital LLC TRC now owns 2,088 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 1,771 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Forum Energy Technologies in the fourth quarter valued at approximately $75,000. Finally, Osaic Holdings Inc. acquired a new position in Forum Energy Technologies in the second quarter valued at approximately $78,000. 65.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FET. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a research report on Friday, July 17th. Zacks Research upgraded Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Forum Energy Technologies Stock Down 1.6%

Shares of Forum Energy Technologies stock opened at $80.55 on Friday. The business’s fifty day moving average price is $65.74 and its two-hundred day moving average price is $59.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.19 and a quick ratio of 1.13. The company has a market capitalization of $906.19 million, a P/E ratio of -536.96, a PEG ratio of 2.55 and a beta of 0.59. Forum Energy Technologies, Inc. has a 1-year low of $25.07 and a 1-year high of $87.42.

Forum Energy Technologies (NYSE:FET) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.60. The company had revenue of $226.22 million during the quarter, compared to analysts’ expectations of $212.35 million. Forum Energy Technologies had a positive return on equity of 9.45% and a negative net margin of 0.19%. As a group, research analysts forecast that Forum Energy Technologies, Inc. will post 4.01 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John C. Ivascu sold 5,000 shares of Forum Energy Technologies stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $70.63, for a total value of $353,150.00. Following the transaction, the executive vice president owned 85,512 shares of the company’s stock, valued at $6,039,712.56. The trade was a 5.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Michael Danford sold 1,500 shares of Forum Energy Technologies stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $78.91, for a total transaction of $118,365.00. Following the completion of the transaction, the senior vice president owned 52,639 shares in the company, valued at approximately $4,153,743.49. This trade represents a 2.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 11,500 shares of company stock valued at $877,615. 7.70% of the stock is currently owned by corporate insiders.

Forum Energy Technologies Profile

Forum Energy Technologies Inc is a global provider of advanced products and services to the oil and gas industry. The company’s offerings span the full lifecycle of exploration and production, including drilling, well construction, completion and production, and subsea operations. Key product lines include premium drill bits, downhole drilling motors, directional drilling tools, subsea umbilicals, and pressure control equipment, complemented by field service support and engineered solutions for complex projects.

Established through the merger of Forum Oilfield Technologies, Triton Group, Global Energy Group, and Allen International in 2010, Forum Energy Technologies has built a diversified technology portfolio designed to meet evolving industry requirements.