Sei Investments Co. Sells 132,606 Shares of Forum Energy Technologies, Inc. (NYSE:FET)

Sei Investments Co. lowered its holdings in shares of Forum Energy Technologies, Inc. (NYSE:FET - Free Report) by 90.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,301 shares of the oil and gas company's stock after selling 132,606 shares during the period. Sei Investments Co. owned about 0.12% of Forum Energy Technologies worth $222,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. grew its holdings in Forum Energy Technologies by 41.0% during the 4th quarter. American Century Companies Inc. now owns 71,940 shares of the oil and gas company's stock worth $1,114,000 after acquiring an additional 20,925 shares during the last quarter. Tejara Capital Ltd lifted its position in shares of Forum Energy Technologies by 5.4% during the fourth quarter. Tejara Capital Ltd now owns 230,545 shares of the oil and gas company's stock worth $3,571,000 after purchasing an additional 11,736 shares in the last quarter. Monaco Asset Management SAM grew its stake in shares of Forum Energy Technologies by 9.8% during the fourth quarter. Monaco Asset Management SAM now owns 75,118 shares of the oil and gas company's stock valued at $1,164,000 after purchasing an additional 6,709 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Forum Energy Technologies by 71.7% in the third quarter. JPMorgan Chase & Co. now owns 8,845 shares of the oil and gas company's stock valued at $137,000 after purchasing an additional 3,693 shares in the last quarter. Finally, Barclays PLC raised its position in Forum Energy Technologies by 86.0% in the 3rd quarter. Barclays PLC now owns 27,714 shares of the oil and gas company's stock worth $428,000 after purchasing an additional 12,810 shares during the last quarter. 65.60% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In related news, CEO Neal Lux purchased 9,129 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $17.65 per share, with a total value of $161,126.85. Following the purchase, the chief executive officer now directly owns 212,250 shares in the company, valued at $3,746,212.50. The trade was a 4.49 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 6.20% of the stock is currently owned by company insiders.

Forum Energy Technologies Trading Up 5.6 %

FET stock traded up $0.76 during midday trading on Tuesday, reaching $14.33. The stock had a trading volume of 76,040 shares, compared to its average volume of 60,027. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Forum Energy Technologies, Inc. has a twelve month low of $12.78 and a twelve month high of $21.57. The firm has a market cap of $177.26 million, a price-to-earnings ratio of -1.31 and a beta of 1.74. The business has a fifty day simple moving average of $18.08 and a two-hundred day simple moving average of $16.62.

Forum Energy Technologies (NYSE:FET - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The oil and gas company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.58). Forum Energy Technologies had a negative net margin of 16.57% and a negative return on equity of 2.39%. The business had revenue of $201.00 million during the quarter, compared to analyst estimates of $201.85 million.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Forum Energy Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th.

About Forum Energy Technologies

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.