Hillman Co buys $30,976,535 stake in Forum Energy Technologies Inc (FET)

Forum Energy Technologies Inc (FET) : Hillman Co scooped up 218,821 additional shares in Forum Energy Technologies Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm now holds a total of 2,035,252 shares of Forum Energy Technologies Inc which is valued at $30,976,535.Forum Energy Technologies Inc makes up approximately 15.06% of Hillman Co’s portfolio.

Other Hedge Funds, Including , Meeder Asset Management Inc reduced its stake in FET by selling 2,519 shares or 66.62% in the most recent quarter. The Hedge Fund company now holds 1,262 shares of FET which is valued at $20,432.Eagle Asset Management Inc boosted its stake in FET in the latest quarter, The investment management firm added 496,675 additional shares and now holds a total of 566,348 shares of Forum Energy Technologies Inc which is valued at $9,203,155. Forum Energy Technologies Inc makes up approx 0.06% of Eagle Asset Management Inc’s portfolio. Gwm Advisors added FET to its portfolio by purchasing 324,081 company shares during the most recent quarter which is valued at $5,301,965. Forum Energy Technologies Inc makes up approx 2.17% of Gwm Advisors’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in FET in the latest quarter, The investment management firm added 3,527 additional shares and now holds a total of 4,831 shares of Forum Energy Technologies Inc which is valued at $79,035.

Forum Energy Technologies Inc opened for trading at $15.11 and hit $16.68 on the upside on Friday, eventually ending the session at $16.33, with a gain of 8.22% or 1.24 points. The heightened volatility saw the trading volume jump to 24,64,045 shares. Company has a market cap of $1,490 M.

On the company’s financial health, Forum Energy Technologies Inc reported $-0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.26. The company had revenue of $142.80 million for the quarter, compared to analysts expectations of $142.10 million. The company’s revenue was down -49.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on Forum Energy Technologies Inc. Forum Energy Technologies Inc was Upgraded by Credit Suisse to ” Outperform” on Jul 18, 2016. Forum Energy Technologies Inc was Downgraded by JP Morgan to ” Underweight” on Jul 12, 2016. Company shares were Reiterated by Scotia Howard Weil on Jun 16, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 19 from a previous price target of $16 .

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. 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. Its capital products are targeted at drilling rig equipment for rigs upgrades and refurbishment projects; subsea construction and development projects; the placement of production equipment on producing wells and downstream capital projects. Its engineered systems are components used on drilling rigs or in the course of subsea operations while its consumable products are used to maintain operations at well sites in the well construction process within the supporting infrastructure and at processing centers and refineries. Its segments are Drilling & Subsea and Production & Infrastructure.

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