Pullen Investment Management LLC increased its position in DNOW Inc. (NYSE:DNOW – Free Report) by 39.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,832 shares of the oil and gas company’s stock after buying an additional 64,496 shares during the period. DNOW comprises 1.4% of Pullen Investment Management LLC’s portfolio, making the stock its 23rd largest holding. Pullen Investment Management LLC’s holdings in DNOW were worth $2,725,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in DNOW by 66.1% in the 4th quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock valued at $258,351,000 after acquiring an additional 7,762,071 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of DNOW by 187.2% during the fourth quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company’s stock worth $143,275,000 after purchasing an additional 7,048,382 shares during the last quarter. Boston Partners acquired a new stake in shares of DNOW during the third quarter worth $72,302,000. Pzena Investment Management LLC purchased a new stake in shares of DNOW in the fourth quarter valued at $55,135,000. Finally, Dimensional Fund Advisors LP grew its position in shares of DNOW by 60.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock valued at $137,466,000 after purchasing an additional 3,920,731 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on DNOW. Stifel Nicolaus dropped their target price on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. DA Davidson initiated coverage on DNOW in a research note on Tuesday, June 16th. They issued a “buy” rating and a $17.00 price target on the stock. Zacks Research upgraded DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Wall Street Zen downgraded shares of DNOW from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, DNOW presently has a consensus rating of “Hold” and a consensus price target of $17.00.
DNOW Trading Up 0.0%
DNOW stock opened at $13.51 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -18.50 and a beta of 0.82. The business has a fifty day simple moving average of $13.02 and a 200-day simple moving average of $13.37. DNOW Inc. has a 52 week low of $10.94 and a 52 week high of $17.26.
DNOW (NYSE:DNOW – Get Free Report) last issued its earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $0.22 EPS. DNOW’s revenue was up 97.5% compared to the same quarter last year. On average, equities research analysts expect that DNOW Inc. will post 0.31 EPS for the current year.
DNOW Company Profile
DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.
The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.
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