Boston Partners Has $21.81 Million Position in DNOW Inc. (NYSE:DNOW)

Boston Partners trimmed its position in shares of DNOW Inc. (NYSE:DNOW) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,442,894 shares of the oil and gas company’s stock after selling 38,471 shares during the quarter. Boston Partners owned approximately 1.35% of DNOW worth $21,808,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of DNOW by 14.5% during the fourth quarter. Wellington Management Group LLP now owns 926,412 shares of the oil and gas company’s stock worth $10,487,000 after acquiring an additional 117,612 shares during the last quarter. Polaris Capital Management LLC acquired a new stake in shares of DNOW during the 4th quarter worth approximately $872,000. Sei Investments Co. raised its holdings in shares of DNOW by 751.6% during the first quarter. Sei Investments Co. now owns 131,258 shares of the oil and gas company’s stock valued at $1,995,000 after purchasing an additional 115,844 shares during the period. Denali Advisors LLC acquired a new position in DNOW during the 1st quarter worth approximately $1,409,000. Finally, Louisiana State Employees Retirement System bought a new position in DNOW in the 4th quarter valued at about $602,000. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Performance

DNOW traded down $0.74 during trading on Friday, hitting $14.14. 943,588 shares of the stock were exchanged, compared to its average volume of 854,930. The firm has a 50 day simple moving average of $13.88 and a 200 day simple moving average of $13.51. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 6.52 and a beta of 1.45. DNOW Inc. has a 1 year low of $9.44 and a 1 year high of $15.65.

DNOW (NYSE:DNOW) last announced its earnings results on Friday, May 10th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). DNOW had a net margin of 10.30% and a return on equity of 10.39%. The business had revenue of $563.00 million for the quarter, compared to analyst estimates of $569.15 million. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts anticipate that DNOW Inc. will post 1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on DNOW shares. Stifel Nicolaus upped their price target on shares of DNOW from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Susquehanna decreased their price objective on DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th.

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.