Mackay Shields LLC Sells 35,842 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

Mackay Shields LLC lessened its stake in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 875,452 shares of the oil and gas company's stock after selling 35,842 shares during the period. Mackay Shields LLC owned 7.08% of Forum Energy Technologies worth $17,605,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FET. JPMorgan Chase & Co. grew its position in Forum Energy Technologies by 445.0% in the 4th quarter. JPMorgan Chase & Co. now owns 48,209 shares of the oil and gas company's stock worth $747,000 after purchasing an additional 39,364 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Forum Energy Technologies by 57.3% in the 4th quarter. Bank of America Corp DE now owns 103,605 shares of the oil and gas company's stock valued at $1,605,000 after purchasing an additional 37,744 shares during the period. Marshall Wace LLP acquired a new position in Forum Energy Technologies during the fourth quarter worth $354,000. Diametric Capital LP acquired a new stake in shares of Forum Energy Technologies during the 4th quarter worth about $350,000. Finally, Two Sigma Investments LP raised its stake in shares of Forum Energy Technologies by 146.0% in the fourth quarter. Two Sigma Investments LP now owns 37,493 shares of the oil and gas company's stock valued at $581,000 after acquiring an additional 22,249 shares during the last quarter. 65.60% of the stock is owned by institutional investors.

Forum Energy Technologies Trading Down 0.4%

Forum Energy Technologies stock traded down $0.07 during mid-day trading on Monday, hitting $19.43. The stock had a trading volume of 87,221 shares, compared to its average volume of 66,613. The company has a current ratio of 2.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. Forum Energy Technologies, Inc. has a 12 month low of $12.78 and a 12 month high of $21.57. The stock has a market capitalization of $240.35 million, a PE ratio of -1.94, a P/E/G ratio of 2.22 and a beta of 0.84. The stock has a 50-day simple moving average of $16.72 and a two-hundred day simple moving average of $17.18.

Forum Energy Technologies (NYSE:FET - Get Free Report) last issued its earnings results on Thursday, May 1st. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.39). Forum Energy Technologies had a negative net margin of 15.35% and a negative return on equity of 2.26%. The business had revenue of $193.30 million for the quarter, compared to the consensus estimate of $196.45 million. During the same quarter in the previous year, the firm posted ($0.12) EPS.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Forum Energy Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

Forum Energy Technologies Company 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.