Nuveen LLC Acquires Shares of 35,821 Forum Energy Technologies, Inc. $FET

Nuveen LLC bought a new position in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,821 shares of the oil and gas company's stock, valued at approximately $720,000. Nuveen LLC owned 0.29% of Forum Energy Technologies at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Forum Energy Technologies by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 507,263 shares of the oil and gas company's stock valued at $7,857,000 after buying an additional 18,236 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Forum Energy Technologies by 3.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 278,331 shares of the oil and gas company's stock valued at $5,770,000 after buying an additional 10,066 shares during the period. Northern Trust Corp increased its position in Forum Energy Technologies by 5.8% during the fourth quarter. Northern Trust Corp now owns 105,301 shares of the oil and gas company's stock worth $1,631,000 after purchasing an additional 5,807 shares during the last quarter. Bank of America Corp DE increased its position in Forum Energy Technologies by 57.3% during the fourth quarter. Bank of America Corp DE now owns 103,605 shares of the oil and gas company's stock worth $1,605,000 after purchasing an additional 37,744 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in Forum Energy Technologies by 8.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 72,331 shares of the oil and gas company's stock worth $1,120,000 after purchasing an additional 5,807 shares during the last quarter. 65.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Forum Energy Technologies from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of "Sell".

Forum Energy Technologies Stock Down 2.2%

FET traded down $0.60 during trading hours on Friday, reaching $26.02. 80,474 shares of the stock traded hands, compared to its average volume of 108,183. The firm's fifty day simple moving average is $21.65 and its two-hundred day simple moving average is $18.58. The company has a market cap of $309.67 million, a price-to-earnings ratio of -2.93, a PEG ratio of 5.56 and a beta of 0.89. Forum Energy Technologies, Inc. has a fifty-two week low of $12.78 and a fifty-two week high of $26.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.41 and a quick ratio of 1.13.

Forum Energy Technologies (NYSE:FET - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The oil and gas company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.25). The firm had revenue of $199.80 million for the quarter, compared to analyst estimates of $190.50 million. Forum Energy Technologies had a negative net margin of 13.65% and a negative return on equity of 2.51%.

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.