Global Alpha Capital Management Ltd. Boosts Stock Holdings in DNOW Inc. (NYSE:DNOW)

Global Alpha Capital Management Ltd. increased its position in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,622,426 shares of the oil and gas company's stock after buying an additional 48,900 shares during the quarter. DNOW accounts for 2.2% of Global Alpha Capital Management Ltd.'s portfolio, making the stock its 19th biggest holding. Global Alpha Capital Management Ltd. owned approximately 2.46% of DNOW worth $33,908,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in DNOW by 1,062.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 2,561 shares during the period. KBC Group NV raised its holdings 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 valued at $49,000 after purchasing an additional 1,190 shares during the period. Quarry LP raised its holdings in shares of 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 acquiring an additional 1,908 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of DNOW in the 2nd quarter worth about $67,000. Finally, nVerses Capital LLC bought a new stake in DNOW in the 3rd quarter worth about $78,000. 97.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

DNOW Price Performance

NYSE:DNOW traded up $0.29 during mid-day trading on Wednesday, hitting $14.65. 410,417 shares of the company's stock were exchanged, compared to its average volume of 929,456. DNOW Inc. has a one year low of $9.44 and a one year high of $15.65. The business has a fifty day moving average price of $12.80 and a 200 day moving average price of $13.31. The company has a market cap of $1.55 billion, a PE ratio of 7.68 and a beta of 1.45.

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, beating analysts' consensus estimates of $0.19 by $0.02. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The company had revenue of $606.00 million for the quarter, compared to the consensus estimate of $614.92 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts forecast 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.