Algert Global LLC Acquires 361,642 Shares of DNOW Inc. $DNOW

Key Points

• Algert Global LLC increased its stake in DNOW Inc. by 325.4%, owning a total of 472,779 shares valued at approximately $8,075,000 by the end of the first quarter.
• The company reported a net margin of 3.45% and quarterly revenue of $628 million, exceeding analysts' expectations of $612.6 million.
• DNOW has received various analyst ratings, including a downgrade from Stifel Nicolaus with a new price target of $18.00, while Zacks Research upgraded the stock to a "strong-buy" rating.

Algert Global LLC boosted its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 325.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 472,779 shares of the oil and gas company's stock after acquiring an additional 361,642 shares during the period. Algert Global LLC owned 0.45% of DNOW worth $8,075,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. SummerHaven Investment Management LLC grew its holdings in shares of DNOW by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 60,319 shares of the oil and gas company's stock valued at $1,030,000 after buying an additional 966 shares during the period. GAMMA Investing LLC grew its holdings in shares of DNOW by 122.1% in the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock valued at $32,000 after buying an additional 1,022 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of DNOW by 15.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company's stock valued at $134,000 after buying an additional 1,073 shares during the period. CoreCommodity Management LLC grew its holdings in shares of DNOW by 1.4% in the 4th quarter. CoreCommodity Management LLC now owns 95,471 shares of the oil and gas company's stock valued at $1,242,000 after buying an additional 1,364 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of DNOW by 1.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 81,390 shares of the oil and gas company's stock valued at $1,390,000 after buying an additional 1,467 shares during the period. Institutional investors and hedge funds own 97.63% of the company's stock.

DNOW Price Performance

NYSE:DNOW traded up $0.8050 on Friday, hitting $15.8250. 906,787 shares of the company's stock were exchanged, compared to its average volume of 1,157,596. The firm has a 50-day moving average price of $14.82 and a 200-day moving average price of $15.27. DNOW Inc. has a 52 week low of $11.42 and a 52 week high of $18.45. The company has a market cap of $1.70 billion, a P/E ratio of 20.82 and a beta of 1.13.

DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The firm had revenue of $628.00 million for the quarter, compared to analysts' expectations of $612.60 million. During the same period in the previous year, the firm posted $0.25 EPS. The company's revenue for the quarter was down .8% on a year-over-year basis. On average, research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DNOW shares. Stifel Nicolaus decreased their price target on shares of DNOW from $19.00 to $18.00 and set a "buy" rating for the company in a report on Monday, July 21st. Zacks Research raised shares of DNOW to a "strong-buy" rating in a report on Friday, August 8th. Finally, Wall Street Zen raised shares of DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $18.00.

DNOW 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.