Foundry Partners LLC Grows Stock Position in DNOW Inc. (NYSE:DNOW)

Foundry Partners LLC raised its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 388,068 shares of the oil and gas company's stock after purchasing an additional 22,273 shares during the quarter. Foundry Partners LLC owned 0.37% of DNOW worth $5,049,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its position in DNOW by 0.8% in the 4th quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company's stock valued at $1,303,000 after buying an additional 792 shares during the period. Smartleaf Asset Management LLC grew its stake in DNOW by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 885 shares in the last quarter. Highland Capital Management LLC increased its holdings in DNOW by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company's stock worth $228,000 after purchasing an additional 1,097 shares during the period. Franklin Resources Inc. lifted its holdings in shares of DNOW by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company's stock worth $2,761,000 after buying an additional 1,278 shares during the period. Finally, Coldstream Capital Management Inc. grew its position in shares of DNOW by 10.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company's stock worth $182,000 after buying an additional 1,291 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

DNOW has been the subject of several recent research reports. Stifel Nicolaus lifted their price objective on DNOW from $17.00 to $20.00 and gave the company a "buy" rating in a report on Friday, February 14th. StockNews.com upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th.

DNOW Stock Performance

NYSE:DNOW traded down $0.64 during midday trading on Thursday, reaching $15.02. 200,266 shares of the stock traded hands, compared to its average volume of 897,135. The business has a 50-day moving average of $15.76 and a two-hundred day moving average of $14.30. DNOW Inc. has a 12-month low of $11.42 and a 12-month high of $19.90. The stock has a market capitalization of $1.59 billion, a PE ratio of 20.68 and a beta of 1.21.

DNOW (NYSE:DNOW - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. Research analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW declared that its Board of Directors has authorized a stock repurchase plan on Friday, January 24th that authorizes the company to buyback $160.00 million in shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

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.