Franklin Resources Inc. Acquires 1,278 Shares of DNOW Inc. (NYSE:DNOW)

Franklin Resources Inc. increased its holdings in shares of DNOW Inc. (NYSE:DNOW) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 216,243 shares of the oil and gas company’s stock after acquiring an additional 1,278 shares during the period. Franklin Resources Inc. owned about 0.20% of DNOW worth $2,761,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Eagle Asset Management Inc. boosted its holdings in DNOW by 15.5% during the third quarter. Eagle Asset Management Inc. now owns 277,298 shares of the oil and gas company’s stock valued at $3,951,000 after purchasing an additional 37,178 shares in the last quarter. AQR Capital Management LLC boosted its stake in DNOW by 21.9% in the 2nd quarter. AQR Capital Management LLC now owns 827,965 shares of the oil and gas company’s stock valued at $11,368,000 after buying an additional 148,549 shares in the last quarter. Global Alpha Capital Management Ltd. grew its position in DNOW by 1.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company’s stock valued at $33,908,000 after acquiring an additional 48,900 shares during the period. Sei Investments Co. raised its stake in DNOW by 47.0% during the second quarter. Sei Investments Co. now owns 192,950 shares of the oil and gas company’s stock worth $2,649,000 after acquiring an additional 61,692 shares in the last quarter. Finally, Versor Investments LP bought a new position in shares of DNOW during the third quarter valued at $463,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Performance

DNOW opened at $13.11 on Thursday. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 7.01 and a beta of 1.50. The firm’s 50-day simple moving average is $13.73 and its 200-day simple moving average is $13.38. DNOW Inc. has a twelve month low of $9.44 and a twelve month high of $15.65.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $606.00 million for the quarter, compared to analysts’ expectations of $614.92 million. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. As a group, sell-side analysts anticipate that DNOW Inc. will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling at DNOW

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total value of $401,955.10. Following the completion of the sale, the director now owns 56,568 shares in the company, valued at approximately $868,318.80. This trade represents a 31.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

DNOW Profile

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.