Eagle Asset Management Inc. Buys 37,178 Shares of DNOW Inc. (NYSE:DNOW)

Eagle Asset Management Inc. increased its stake in shares of DNOW Inc. (NYSE:DNOW) by 15.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 277,298 shares of the oil and gas company’s stock after purchasing an additional 37,178 shares during the quarter. Eagle Asset Management Inc.’s holdings in DNOW were worth $3,951,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Louisiana State Employees Retirement System grew its position in DNOW by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the oil and gas company’s stock worth $737,000 after acquiring an additional 1,000 shares during the last quarter. SummerHaven Investment Management LLC grew its position in DNOW by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 68,946 shares of the oil and gas company’s stock worth $947,000 after acquiring an additional 1,068 shares during the last quarter. KBC Group NV grew its position in DNOW by 45.5% during the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,190 shares during the last quarter. Arizona State Retirement System grew its position in DNOW by 4.3% during the 2nd quarter. Arizona State Retirement System now owns 30,485 shares of the oil and gas company’s stock worth $419,000 after acquiring an additional 1,263 shares during the last quarter. Finally, Highland Capital Management LLC grew its position in DNOW by 11.3% during the 3rd quarter. Highland Capital Management LLC now owns 16,417 shares of the oil and gas company’s stock worth $212,000 after acquiring an additional 1,669 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

DNOW Stock Performance

Shares of DNOW stock opened at $14.95 on Monday. The firm has a market cap of $1.58 billion, a P/E ratio of 7.99 and a beta of 1.45. DNOW Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.65. The business’s 50 day moving average price is $12.97 and its 200-day moving average price is $13.32.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The firm 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 business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. As a group, equities analysts predict that DNOW Inc. will post 0.84 EPS for the current year.

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.