DNOW Inc. (NYSE:DNOW) Shares Bought by Foundry Partners LLC

Foundry Partners LLC boosted its position in DNOW Inc. (NYSE:DNOW) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 388,068 shares of the oil and gas company’s stock after purchasing an additional 22,273 shares during the period. Foundry Partners LLC owned approximately 0.37% of DNOW worth $5,049,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DNOW. Pacer Advisors Inc. boosted its position in shares of DNOW by 9.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company’s stock worth $82,063,000 after buying an additional 543,403 shares during the period. Raymond James Financial Inc. acquired a new stake in DNOW in the fourth quarter valued at approximately $3,903,000. Norges Bank acquired a new stake in shares of DNOW in the 4th quarter valued at $3,856,000. Brandywine Global Investment Management LLC bought a new stake in DNOW in the fourth quarter worth $2,766,000. Finally, Weiss Asset Management LP acquired a new position in DNOW during the third quarter worth $2,025,000. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Trading Down 7.7 %

Shares of NYSE DNOW opened at $14.81 on Friday. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45. The business has a fifty day simple moving average of $15.78 and a 200 day simple moving average of $14.23. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 20.29 and a beta of 1.21.

DNOW (NYSE:DNOW) last issued its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. On average, research analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW announced that its Board of Directors has authorized a share repurchase plan on Friday, January 24th that authorizes the company to repurchase $160.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

DNOW has been the topic of several analyst reports. Stifel Nicolaus increased their price target on DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a report on Friday, February 14th. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th.

About DNOW

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.