Hillman Co. increased its stake in shares of Forum Energy Technologies Inc. (NYSE:FET) by 12.0% during the second quarter, Holdings Channel reports. The institutional investor owned 2,035,252 shares of the company’s stock after buying an additional 218,821 shares during the period. Forum Energy Technologies comprises about 17.4% of Hillman Co.’s holdings, making the stock its largest position. Hillman Co.’s holdings in Forum Energy Technologies were worth $35,230,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Forum Energy Technologies during the fourth quarter valued at about $12,462,000. Palisade Capital Management LLC NJ raised its position in shares of Forum Energy Technologies by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 297,623 shares of the company’s stock valued at $3,929,000 after buying an additional 28,488 shares during the last quarter. GW&K Investment Management LLC raised its position in shares of Forum Energy Technologies by 5.4% in the first quarter. GW&K Investment Management LLC now owns 1,255,875 shares of the company’s stock valued at $16,578,000 after buying an additional 64,785 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of Forum Energy Technologies by 10.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,161,036 shares of the company’s stock valued at $28,525,000 after buying an additional 210,384 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Forum Energy Technologies by 0.3% in the first quarter. Wellington Management Group LLP now owns 3,673,186 shares of the company’s stock valued at $48,485,000 after buying an additional 11,064 shares during the last quarter.

Forum Energy Technologies Inc. (NYSE:FET) traded up 0.70% on Tuesday, reaching $17.21. The company had a trading volume of 656,638 shares. Forum Energy Technologies Inc. has a one year low of $8.47 and a one year high of $19.32. The firm’s market capitalization is $1.56 billion. The company’s 50 day moving average is $17.52 and its 200-day moving average is $16.02.

Forum Energy Technologies (NYSE:FET) last issued its quarterly earnings data on Friday, July 29th. The company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.07. Forum Energy Technologies had a negative net margin of 28.04% and a negative return on equity of 3.20%. The business earned $142.80 million during the quarter, compared to analyst estimates of $143.17 million. During the same period last year, the business posted $0.16 earnings per share. Forum Energy Technologies’s quarterly revenue was down 49.8% compared to the same quarter last year. On average, equities research analysts expect that Forum Energy Technologies Inc. will post ($0.78) earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on FET shares. Credit Suisse Group AG lowered Forum Energy Technologies from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $14.00 to $16.00 in a research note on Wednesday, June 1st. Howard Weil boosted their price objective on Forum Energy Technologies from $16.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 16th. Scotiabank restated a “sector perform” rating and set a $19.00 price objective (up previously from $16.00) on shares of Forum Energy Technologies in a research report on Friday, June 17th. Simmons restated a “neutral” rating and set a $18.00 price objective (up previously from $15.25) on shares of Forum Energy Technologies in a research report on Thursday, July 7th. Finally, Jefferies Group reduced their price objective on Forum Energy Technologies from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, July 11th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $16.45.

Forum Energy Technologies Company Profile

Forum Energy Technologies, Inc is an oilfield products company. The Company designs, manufactures and distributes products and engages in aftermarket services, parts supply and related services. It operates through two segments: Drilling & Subsea, and Production & Infrastructure. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas.

5 Day Chart for NYSE:FET

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