Nordea Investment Management AB Sells 53,816 Shares of DNOW Inc. $DNOW

Nordea Investment Management AB cut its stake in DNOW Inc. (NYSE:DNOW) by 15.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 292,719 shares of the oil and gas company’s stock after selling 53,816 shares during the quarter. Nordea Investment Management AB’s holdings in DNOW were worth $3,870,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. boosted its position in shares of DNOW by 134.8% during the third quarter. Hillsdale Investment Management Inc. now owns 439,700 shares of the oil and gas company’s stock worth $6,705,000 after buying an additional 252,400 shares during the period. New York State Common Retirement Fund raised its position in DNOW by 25.3% in the 3rd quarter. New York State Common Retirement Fund now owns 864,495 shares of the oil and gas company’s stock valued at $13,184,000 after buying an additional 174,544 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in DNOW by 57.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,797,651 shares of the oil and gas company’s stock valued at $26,659,000 after acquiring an additional 654,490 shares in the last quarter. Allianz Asset Management GmbH boosted its position in DNOW by 15.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,404,668 shares of the oil and gas company’s stock worth $21,421,000 after acquiring an additional 185,727 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in DNOW by 58.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 234,617 shares of the oil and gas company’s stock worth $3,578,000 after acquiring an additional 86,509 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

DNOW has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. Zacks Research cut shares of DNOW from a “hold” rating to a “strong sell” rating in a report on Tuesday. Wall Street Zen downgraded shares of DNOW from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. KeyCorp set a $19.00 price target on shares of DNOW in a research note on Thursday, December 18th. Finally, Stifel Nicolaus cut their price target on shares of DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.00.

DNOW Stock Up 1.7%

NYSE:DNOW opened at $12.23 on Friday. DNOW Inc. has a twelve month low of $10.94 and a twelve month high of $17.48. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -42.17 and a beta of 0.79. The company has a quick ratio of 1.11, a current ratio of 2.34 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $13.64 and its two-hundred day moving average price is $14.02.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Friday, February 20th. The oil and gas company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. DNOW had a positive return on equity of 7.26% and a negative net margin of 2.66%.The company had revenue of $959.00 million during the quarter, compared to the consensus estimate of $969.50 million. During the same quarter in the prior year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was up 68.0% compared to the same quarter last year. Equities research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.