CSM Advisors LLC Invests $4.77 Million in DNOW Inc. $DNOW

CSM Advisors LLC bought a new position in DNOW Inc. (NYSE:DNOW) during the second quarter, Holdings Channel reports. The firm bought 321,721 shares of the oil and gas company’s stock, valued at approximately $4,771,000.

Other hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in shares of DNOW by 376.3% in the first quarter. Ameriprise Financial Inc. now owns 2,914,681 shares of the oil and gas company’s stock worth $49,802,000 after purchasing an additional 2,302,738 shares during the last quarter. American Century Companies Inc. grew its holdings in DNOW by 16.8% during the first quarter. American Century Companies Inc. now owns 2,003,050 shares of the oil and gas company’s stock worth $34,212,000 after buying an additional 288,311 shares in the last quarter. Allianz Asset Management GmbH raised its position in DNOW by 5.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,218,941 shares of the oil and gas company’s stock valued at $18,077,000 after buying an additional 60,836 shares during the last quarter. Nuveen LLC bought a new position in DNOW during the 1st quarter valued at $18,483,000. Finally, Bridgeway Capital Management LLC boosted its holdings in DNOW by 1.2% during the 1st quarter. Bridgeway Capital Management LLC now owns 984,619 shares of the oil and gas company’s stock worth $16,817,000 after acquiring an additional 11,530 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Performance

DNOW opened at $13.73 on Monday. DNOW Inc. has a fifty-two week low of $12.56 and a fifty-two week high of $18.45. The firm has a 50-day moving average of $15.05 and a 200 day moving average of $15.04. The firm has a market cap of $1.44 billion, a P/E ratio of 15.78 and a beta of 1.01.

DNOW (NYSE:DNOW) last released its earnings results on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. DNOW had a net margin of 3.91% and a return on equity of 9.35%. The firm had revenue of $634.00 million for the quarter, compared to analysts’ expectations of $637.13 million. During the same period in the previous year, the company earned $0.21 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts predict that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DNOW has been the subject of several analyst reports. Zacks Research downgraded shares of DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Stifel Nicolaus decreased their price objective on shares of DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, July 21st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of DNOW in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.

About DNOW

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.