They headed into the match knowing a win would ensure survival but were made to sweat on other results during a thumping defeat.
Ferguson acknowledged that Stenny had the better of the first half but allowed Albion to capitalise on some poor defending.
He said: “We created a number of chances in the game, a lot of really good chances, we just weren’t ruthless enough in front of goal and defensively we gave away goals too cheaply.
“It just sums our season up. We need to be better in front of goal, we need to defend with a purpose and we need to be defensively stronger.”
He continued: “There were two or three chances in the first half that we could have been more clinical with.
“Their keeper’s pulled off some really good saves as well, but their goals came too easy.”
Ferguson guided the Warriors to safety as caretaker last season before signing a permanent deal and setting a modest target of 40 points for this campaign.
They reached exactly that and any other year it would have preserved their league status comfortably.
Such was the tightness of this season’s League One however, Stenhousemuir finished just one point above the relegation play-off spot.
“I knew 40 points was going to keep us safe,” Ferguson said with a sarcastic grin.
“That was the objective that we set, so for the group of players that are in there and everybody connected, I just want to thank them for their efforts.
He continued: “For me, the bar needs to be raised again next year.
“It’s my job to make sure we bring in a quality of player and have a type of football that raises that bar.”