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

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

Other large investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in Forum Energy Technologies by 63.7% during the 4th quarter. Russell Investments Group Ltd. now owns 2,208 shares of the oil and gas company's stock valued at $34,000 after acquiring an additional 859 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Forum Energy Technologies by 146.0% in the 4th quarter. Two Sigma Investments LP now owns 37,493 shares of the oil and gas company's stock valued at $581,000 after purchasing an additional 22,249 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Forum Energy Technologies in the 4th quarter valued at approximately $269,000. American Century Companies Inc. boosted its position in shares of Forum Energy Technologies by 41.0% during the fourth quarter. American Century Companies Inc. now owns 71,940 shares of the oil and gas company's stock valued at $1,114,000 after purchasing an additional 20,925 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Forum Energy Technologies by 1,911.1% in the first quarter. GAMMA Investing LLC now owns 2,172 shares of the oil and gas company's stock worth $44,000 after purchasing an additional 2,064 shares during the period. Institutional investors own 65.60% of the company's stock.

Forum Energy Technologies Stock Performance

Shares of FET stock traded up $0.01 on Friday, reaching $19.49. The stock had a trading volume of 23,534 shares, compared to its average volume of 66,592. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 2.46. Forum Energy Technologies, Inc. has a 1 year low of $12.78 and a 1 year high of $21.57. The stock has a market cap of $241.09 million, a P/E ratio of -1.94, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The company has a 50 day simple moving average of $16.63 and a 200 day simple moving average of $17.11.

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

Analyst Ratings Changes

Separately, Wall Street Zen raised 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.