Nordea Investment Management AB Has $5.37 Million Stock Position in DNOW Inc. $DNOW

Nordea Investment Management AB raised its holdings in shares of DNOW Inc. (NYSE:DNOW) by 0.7% during the second quarter, HoldingsChannel.com reports. The firm owned 343,371 shares of the oil and gas company’s stock after acquiring an additional 2,289 shares during the quarter. Nordea Investment Management AB’s holdings in DNOW were worth $5,374,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its position in DNOW by 2,650.0% during the 1st quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,643 shares during the period. GAMMA Investing LLC lifted its position in DNOW by 122.1% during the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,022 shares during the period. Headlands Technologies LLC lifted its position in DNOW by 21,663.6% during the 1st quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 2,383 shares during the period. New Age Alpha Advisors LLC acquired a new position in DNOW during the 1st quarter valued at about $58,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in DNOW during the 1st quarter valued at about $63,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Price Performance

Shares of DNOW stock opened at $14.63 on Wednesday. The stock has a market cap of $1.57 billion, a PE ratio of 19.25 and a beta of 1.05. The stock has a 50-day moving average of $15.23 and a 200-day moving average of $15.09. DNOW Inc. has a one year low of $11.54 and a one year high of $18.45.

DNOW (NYSE:DNOW) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. DNOW had a return on equity of 8.97% and a net margin of 3.45%.The business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $612.60 million. During the same period in the prior year, the business earned $0.25 EPS. DNOW’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

DNOW has been the topic of a number of research reports. Zacks Research downgraded shares of DNOW from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Stifel Nicolaus lowered their price target on DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, July 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DNOW in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, DNOW has a consensus rating of “Hold” and a consensus price target of $18.00.

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.