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

Foundry Partners LLC lifted its position in shares of DNOW Inc. (NYSE:DNOW) by 832.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 365,795 shares of the oil and gas company’s stock after acquiring an additional 326,547 shares during the quarter. Foundry Partners LLC owned 0.34% of DNOW worth $4,730,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of DNOW. Intech Investment Management LLC grew its position in shares of DNOW by 129.4% in the third quarter. Intech Investment Management LLC now owns 32,184 shares of the oil and gas company’s stock valued at $416,000 after purchasing an additional 18,157 shares during the period. Global Alpha Capital Management Ltd. boosted its holdings in DNOW by 1.9% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company’s stock worth $33,908,000 after buying an additional 48,900 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in DNOW during the 3rd quarter worth approximately $187,000. Quest Partners LLC raised its holdings in shares of DNOW by 443.7% during the third quarter. Quest Partners LLC now owns 37,265 shares of the oil and gas company’s stock valued at $482,000 after acquiring an additional 30,411 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of DNOW by 5.3% in the third quarter. Empowered Funds LLC now owns 535,660 shares of the oil and gas company’s stock valued at $6,926,000 after acquiring an additional 27,202 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Performance

Shares of DNOW stock opened at $14.76 on Friday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 7.95 and a beta of 1.45. DNOW Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.65. The company has a 50 day moving average price of $12.86 and a 200 day moving average price of $13.32.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $606.00 million during the quarter, compared to the consensus estimate of $614.92 million. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. On average, research analysts forecast that DNOW Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.