Allspring Global Investments Holdings LLC Acquires 12,449 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,858 shares of the oil and gas company’s stock after purchasing an additional 12,449 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Forum Energy Technologies were worth $4,141,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC bought a new stake in Forum Energy Technologies during the first quarter valued at approximately $221,000. Vanguard Group Inc. raised its position in shares of Forum Energy Technologies by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 538,148 shares of the oil and gas company’s stock valued at $10,752,000 after buying an additional 3,516 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Forum Energy Technologies by 19.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,691 shares of the oil and gas company’s stock worth $939,000 after acquiring an additional 9,090 shares during the last quarter. Rhumbline Advisers grew its position in Forum Energy Technologies by 24.5% in the second quarter. Rhumbline Advisers now owns 17,483 shares of the oil and gas company’s stock worth $295,000 after acquiring an additional 3,437 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Forum Energy Technologies by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 438,899 shares of the oil and gas company’s stock valued at $7,400,000 after acquiring an additional 25,982 shares during the last quarter. 65.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Forum Energy Technologies news, CEO Neal Lux acquired 4,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $15.22 per share, with a total value of $68,490.00. Following the purchase, the chief executive officer now owns 145,890 shares of the company’s stock, valued at approximately $2,220,445.80. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.20% of the company’s stock.

Forum Energy Technologies Trading Down 0.6 %

NYSE FET opened at $14.32 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 2.69 and a debt-to-equity ratio of 0.56. The stock’s 50-day simple moving average is $16.02 and its two-hundred day simple moving average is $17.02. Forum Energy Technologies, Inc. has a twelve month low of $14.06 and a twelve month high of $24.48. The company has a market capitalization of $175.91 million, a price-to-earnings ratio of -6.07 and a beta of 2.44.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.11). The firm had revenue of $205.20 million for the quarter. Forum Energy Technologies had a negative net margin of 3.34% and a negative return on equity of 1.37%. During the same quarter last year, the company posted $0.10 earnings per share.

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.