Global Alpha Capital Management Ltd. Raises Stake in DNOW Inc. (NYSE:DNOW)

Global Alpha Capital Management Ltd. increased its holdings in DNOW Inc. (NYSE:DNOW) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,622,426 shares of the oil and gas company’s stock after buying an additional 48,900 shares during the period. DNOW comprises about 2.2% of Global Alpha Capital Management Ltd.’s holdings, making the stock its 19th largest position. Global Alpha Capital Management Ltd.’s holdings in DNOW were worth $33,908,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Prospera Financial Services Inc acquired a new stake in DNOW in the third quarter worth $187,000. Quest Partners LLC boosted its position in DNOW by 443.7% during the 3rd quarter. Quest Partners LLC now owns 37,265 shares of the oil and gas company’s stock worth $482,000 after acquiring an additional 30,411 shares during the period. Empowered Funds LLC boosted its position in DNOW by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 535,660 shares of the oil and gas company’s stock worth $6,926,000 after acquiring an additional 27,202 shares during the period. Royce & Associates LP raised its stake in shares of DNOW by 10.2% during the 3rd quarter. Royce & Associates LP now owns 612,638 shares of the oil and gas company’s stock worth $7,921,000 after purchasing an additional 56,787 shares in the last quarter. Finally, KBC Group NV grew its holdings in DNOW by 45.5% in the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,190 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Down 0.3 %

DNOW stock opened at $14.36 on Wednesday. DNOW Inc. has a twelve month low of $9.44 and a twelve month high of $15.65. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 7.68 and a beta of 1.45. The business has a 50 day moving average price of $12.80 and a two-hundred day moving average price of $13.31.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The company had revenue of $606.00 million for the quarter, compared to analyst estimates of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. On average, equities research analysts anticipate that DNOW Inc. will post 0.84 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th.

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.