Nordea Investment Management AB Increases Stake in DNOW Inc. (NYSE:DNOW)

Nordea Investment Management AB lifted its position in DNOW Inc. (NYSE:DNOWFree Report) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 399,843 shares of the oil and gas company’s stock after buying an additional 1,947 shares during the period. Nordea Investment Management AB’s holdings in DNOW were worth $6,166,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DNOW. Cornerstone Investment Partners LLC purchased a new stake in DNOW during the 1st quarter valued at $176,000. Summit Global Investments raised its position in DNOW by 21.0% in the 4th quarter. Summit Global Investments now owns 16,726 shares of the oil and gas company’s stock worth $189,000 after buying an additional 2,900 shares during the last quarter. Quadrature Capital Ltd bought a new position in DNOW during the 4th quarter valued at about $212,000. Quantedge Capital Pte Ltd purchased a new stake in shares of DNOW during the 4th quarter valued at about $216,000. Finally, Quest Partners LLC bought a new stake in shares of DNOW in the fourth quarter worth approximately $216,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Price Performance

Shares of DNOW stock opened at $13.02 on Tuesday. The stock has a market capitalization of $1.39 billion, a PE ratio of 6.03 and a beta of 1.45. The company’s fifty day simple moving average is $13.81 and its 200-day simple moving average is $13.08. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.57.

DNOW (NYSE:DNOWGet Free Report) last released 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 return on equity of 10.39% and a net margin of 10.30%. The firm had revenue of $563.00 million during the quarter, compared to analysts’ expectations of $569.15 million. During the same period in the prior year, the company posted $0.25 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, research analysts anticipate that DNOW Inc. will post 1.06 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on DNOW. Susquehanna dropped their target price on shares of DNOW from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Stifel Nicolaus lifted their price objective on DNOW from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, March 28th.

Get Our Latest Report on DNOW

DNOW Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for DNOW (NYSE:DNOW)

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