Public Employees Retirement System of Ohio Makes New $997,000 Investment in Forum Energy Technologies, Inc. $FET

Key Points

• Public Employees Retirement System of Ohio acquired 19,840 shares of Forum Energy Technologies valued at approximately $997,000, giving it a 0.18% stake. Institutional investors and hedge funds collectively own 65.60% of the company.
• Forum Energy Technologies reported quarterly EPS of $1.16, exceeding analysts’ $0.56 estimate, while revenue of $226.22 million also topped expectations. Analysts expect full-year EPS of approximately $4.01.
• FET shares opened at $79.92, near their 52-week high of $87.42, despite recent insider selling totaling 11,500 shares worth $877,615. Analyst opinions are mixed, but the stock carries a consensus “Moderate Buy” rating.

Public Employees Retirement System of Ohio acquired a new stake in Forum Energy Technologies, Inc. (NYSE:FET - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,840 shares of the oil and gas company's stock, valued at approximately $997,000. Public Employees Retirement System of Ohio owned 0.18% of Forum Energy Technologies as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its stake in shares of Forum Energy Technologies by 7.0% during the 4th quarter. Russell Investments Group Ltd. now owns 9,442 shares of the oil and gas company's stock worth $349,000 after acquiring an additional 618 shares during the period. Victory Capital Management Inc. raised its stake in Forum Energy Technologies by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 14,402 shares of the oil and gas company's stock valued at $385,000 after acquiring an additional 793 shares during the period. Meeder Asset Management Inc. acquired a new stake in Forum Energy Technologies during the 4th quarter valued at $35,000. Raymond James Financial Inc. lifted its holdings in Forum Energy Technologies by 10.1% during the 3rd quarter. Raymond James Financial Inc. now owns 10,604 shares of the oil and gas company's stock valued at $283,000 after purchasing an additional 971 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Forum Energy Technologies during the fourth quarter worth $37,000. 65.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Forum Energy Technologies

In related news, EVP John C. Ivascu sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $81.22, for a total value of $406,100.00. Following the sale, the executive vice president directly owned 80,512 shares of the company's stock, valued at $6,539,184.64. This trade represents a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $78.91, for a total transaction of $118,365.00. Following the completion of the sale, the senior vice president owned 52,639 shares in the company, valued at approximately $4,153,743.49. The trade was a 2.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,500 shares of company stock worth $877,615 in the last quarter. 7.70% of the stock is currently owned by company insiders.

Forum Energy Technologies Stock Down 0.5%

FET opened at $79.92 on Wednesday. The stock has a fifty day moving average of $66.94 and a 200-day moving average of $60.13. The company has a market capitalization of $899.12 million, a P/E ratio of -532.78, a P/E/G ratio of 2.50 and a beta of 0.59. Forum Energy Technologies, Inc. has a fifty-two week low of $25.07 and a fifty-two week high of $87.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.13 and a current ratio of 2.19.

Forum Energy Technologies (NYSE:FET - Get Free Report) last released its earnings results on Thursday, July 30th. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.60. Forum Energy Technologies had a positive return on equity of 9.45% and a negative net margin of 0.19%.The firm had revenue of $226.22 million during the quarter, compared to the consensus estimate of $212.35 million. On average, equities analysts expect that Forum Energy Technologies, Inc. will post 4.01 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Forum Energy Technologies in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Forum Energy Technologies from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 2nd. Finally, Zacks Research upgraded shares of Forum Energy Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, Forum Energy Technologies presently has an average rating of "Moderate Buy".

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.

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