Foundry Partners LLC Has $5.05 Million Stock Position in DNOW Inc. (NYSE:DNOW)

Foundry Partners LLC raised its stake in DNOW Inc. (NYSE:DNOW) by 6.1% in the 4th quarter, HoldingsChannel reports. The fund owned 388,068 shares of the oil and gas company’s stock after buying an additional 22,273 shares during the quarter. Foundry Partners LLC’s holdings in DNOW were worth $5,049,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Teacher Retirement System of Texas lifted its stake in shares of DNOW by 0.8% during the fourth quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company’s stock valued at $1,303,000 after acquiring an additional 792 shares during the period. Smartleaf Asset Management LLC lifted its position in DNOW by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 885 shares during the period. Highland Capital Management LLC lifted its position in DNOW by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company’s stock valued at $228,000 after purchasing an additional 1,097 shares during the period. Franklin Resources Inc. boosted its stake in shares of DNOW by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock valued at $2,761,000 after purchasing an additional 1,278 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of DNOW by 10.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock worth $182,000 after buying an additional 1,291 shares during the period. 97.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DNOW. Stifel Nicolaus increased their price objective on shares of 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 report on Thursday, February 27th.

DNOW Price Performance

Shares of DNOW stock opened at $14.81 on Friday. The stock has a 50-day moving average of $15.78 and a 200-day moving average of $14.23. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45. The stock has a market cap of $1.57 billion, a PE ratio of 20.29 and a beta of 1.21.

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

DNOW declared that its board has initiated a share repurchase plan on Friday, January 24th that allows the company to repurchase $160.00 million in shares. This repurchase authorization allows the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are usually an indication 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.