BlackRock Discloses 5.0% Stake in Forum Energy Technologies
Ticker: FET · Form: SC 13G · Filed: Jan 29, 2024 · CIK: 1401257
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, 13G-filing
TL;DR
**BlackRock now owns 5.0% of Forum Energy Technologies, a passive but significant stake.**
AI Summary
BlackRock Inc. reported on January 29, 2024, that as of December 31, 2023, it beneficially owned 5.0% of the Common Stock of Forum Energy Technologies Inc. This filing indicates BlackRock's passive investment in the oil and gas field machinery and equipment company. This matters to investors because BlackRock, a major institutional investor, holds a significant stake, suggesting a degree of confidence in the company's long-term prospects, even if it's a passive holding.
Why It Matters
This filing shows that a major institutional investor, BlackRock, holds a notable stake in Forum Energy Technologies, which can influence market perception and potentially provide stability to the stock.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large institutional investor, which generally reduces volatility rather than increasing risk.
Analyst Insight
An investor should note BlackRock's passive 5.0% stake as a sign of institutional interest, but recognize it doesn't imply active management or a change in company strategy. It's a data point for long-term holders.
Key Numbers
- 5.0% — Percentage of Class Owned (BlackRock's beneficial ownership of Forum Energy Technologies' Common Stock)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G
- Forum Energy Technologies Inc. (company) — the subject company whose shares are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 29, 2024 (date) — the filing date of the SC 13G
Forward-Looking Statements
- BlackRock will maintain its passive stake in Forum Energy Technologies for the foreseeable future. (BlackRock Inc.) — high confidence, target: 2025-01-29
FAQ
What type of filing is this document?
This document is an SC 13G filing, specifically filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, indicating a passive investment by an institutional investor.
Who is the subject company of this filing?
The subject company is FORUM ENERGY TECHNOLOGIES, INC., with a Central Index Key (CIK) of 0001401257.
Who is the entity making this filing?
The entity making this filing is BlackRock Inc., with a Central Index Key (CIK) of 0001364742.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023.
What is the CUSIP number for the class of securities reported?
The CUSIP number for the Common Stock of Forum Energy Technologies Inc. is 34984V209.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 29, 2024 regarding FORUM ENERGY TECHNOLOGIES, INC. (FET).