Algert Global LLC Cuts Stock Position in DNOW Inc. (NYSE:DNOW)

Algert Global LLC lessened its stake in DNOW Inc. (NYSE:DNOW) by 63.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 108,820 shares of the oil and gas company’s stock after selling 186,471 shares during the quarter. Algert Global LLC’s holdings in DNOW were worth $1,407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of DNOW by 1,062.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 2,561 shares during the last quarter. KBC Group NV grew its stake in shares of DNOW by 45.5% during the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,190 shares during the last quarter. Quarry LP grew its stake in shares of DNOW by 75.6% during the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 1,908 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of DNOW during the second quarter worth about $67,000. Finally, nVerses Capital LLC purchased a new stake in shares of DNOW during the third quarter worth about $78,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Insider Buying and Selling

In related news, Director Paul M. Coppinger sold 26,186 shares of DNOW stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total transaction of $401,955.10. Following the completion of the sale, the director now owns 56,568 shares of the company’s stock, valued at $868,318.80. The trade was a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th.

DNOW Stock Up 0.1 %

DNOW stock opened at $15.13 on Friday. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.65. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 8.09 and a beta of 1.45. The stock has a 50-day moving average price of $13.11 and a 200 day moving average price of $13.34.

DNOW (NYSE:DNOW) last released its earnings results on Thursday, November 7th. The oil and gas company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The firm had revenue of $606.00 million during the quarter, compared to the consensus estimate of $614.92 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue was up 3.1% compared to the same quarter last year. Research analysts anticipate that DNOW Inc. will post 0.84 EPS for the current fiscal year.

DNOW Company 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.