State Street Corp Reduces Stock Holdings in DNOW Inc. (NYSE:DNOW)

State Street Corp lessened its holdings in DNOW Inc. (NYSE:DNOW - Free Report) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,110,066 shares of the oil and gas company's stock after selling 54,586 shares during the quarter. State Street Corp owned 3.88% of DNOW worth $53,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its position in DNOW by 9.7% during the third quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company's stock worth $211,000 after buying an additional 1,458 shares during the period. Verition Fund Management LLC boosted its position in DNOW by 181.9% during the third quarter. Verition Fund Management LLC now owns 28,283 shares of the oil and gas company's stock worth $366,000 after purchasing an additional 18,251 shares in the last quarter. Martingale Asset Management L P grew its holdings in DNOW by 17.8% in the third quarter. Martingale Asset Management L P now owns 129,266 shares of the oil and gas company's stock valued at $1,671,000 after purchasing an additional 19,578 shares during the last quarter. Quantbot Technologies LP increased its position in shares of DNOW by 159.8% in the third quarter. Quantbot Technologies LP now owns 77,487 shares of the oil and gas company's stock valued at $1,002,000 after buying an additional 47,659 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of DNOW during the 3rd quarter worth $674,000. Institutional investors and hedge funds own 97.63% of the company's stock.

Insider Activity at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total transaction of $401,955.10. Following the completion of the transaction, the director now owns 56,568 shares of the company's stock, valued at $868,318.80. This represents a 31.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is currently owned by corporate insiders.

DNOW Stock Performance

NYSE DNOW traded down $0.29 during trading hours on Thursday, reaching $13.25. The company's stock had a trading volume of 695,674 shares, compared to its average volume of 902,264. The company's 50-day moving average is $13.70 and its two-hundred day moving average is $13.40. DNOW Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.65. The stock has a market cap of $1.40 billion, a PE ratio of 7.09 and a beta of 1.50.

DNOW (NYSE:DNOW - Get Free Report) 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 analysts' consensus estimates of $0.19 by $0.02. The business had revenue of $606.00 million during 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 revenue was up 3.1% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. Equities analysts expect that DNOW Inc. will post 0.81 earnings per share 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.