Nordea Investment Management AB Buys 4,582 Shares of DNOW Inc. (NYSE:DNOW)

Nordea Investment Management AB grew its stake in shares of DNOW Inc. (NYSE:DNOW) by 1.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 327,246 shares of the oil and gas company’s stock after acquiring an additional 4,582 shares during the quarter. Nordea Investment Management AB’s holdings in DNOW were worth $4,257,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DNOW. KBC Group NV boosted its holdings in shares of DNOW by 45.5% in the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,190 shares during the period. Quarry LP boosted its stake in DNOW by 75.6% in the 2nd quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 1,908 shares during the period. nVerses Capital LLC bought a new position in DNOW during the 3rd quarter worth about $78,000. Quest Partners LLC acquired a new stake in shares of DNOW in the 2nd quarter valued at about $94,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of DNOW in the second quarter valued at about $95,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Performance

NYSE DNOW opened at $12.82 on Friday. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.65. The stock’s 50 day moving average price is $13.96 and its two-hundred day moving average price is $13.35. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 6.86 and a beta of 1.53.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The company had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $614.92 million. During the same quarter last year, the company earned $0.25 EPS. DNOW’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts forecast that DNOW Inc. will post 0.81 EPS for the current year.

Insider Buying and Selling

In related news, Director Paul M. Coppinger sold 26,186 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total transaction of $401,955.10. Following 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 is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.

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.