Empowered Funds LLC Boosts Holdings in DNOW Inc. (NYSE:DNOW)

Empowered Funds LLC grew its stake in DNOW Inc. (NYSE:DNOW) by 5.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 563,089 shares of the oil and gas company’s stock after buying an additional 27,429 shares during the period. Empowered Funds LLC’s holdings in DNOW were worth $7,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in DNOW by 9.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company’s stock worth $82,063,000 after purchasing an additional 543,403 shares during the period. Global Alpha Capital Management Ltd. lifted its stake in shares of 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 valued at $33,908,000 after purchasing an additional 48,900 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in DNOW by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 1,731,485 shares of the oil and gas company’s stock worth $22,388,000 after buying an additional 54,660 shares during the period. Wellington Management Group LLP boosted its stake in shares of DNOW by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,138,287 shares of the oil and gas company’s stock worth $14,718,000 after purchasing an additional 8,675 shares during the period. Finally, Royce & Associates LP grew its stake in shares of DNOW by 10.2% during the third quarter. Royce & Associates LP now owns 612,638 shares of the oil and gas company’s stock valued at $7,921,000 after buying an additional 56,787 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

Insiders Place Their Bets

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of the 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 transaction, the director now directly owns 56,568 shares in the company, valued at $868,318.80. This represents a 31.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

DNOW Trading Down 0.2 %

NYSE:DNOW opened at $14.04 on Tuesday. DNOW Inc. has a twelve month low of $9.44 and a twelve month high of $15.65. The stock has a fifty day simple moving average of $13.94 and a 200-day simple moving average of $13.42. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 7.51 and a beta of 1.53.

DNOW announced that its Board of Directors has initiated a stock repurchase plan on Friday, January 24th that authorizes the company to buyback $160.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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.