MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Position in DNOW Inc. $DNOW

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in DNOW Inc. by 11.4%, selling 271,287 shares and now holding 2,116,482 shares worth approximately $36 million.
• Several large investors increased their positions in DNOW, with Panagora Asset Management Inc. growing its stake by 62.8%, resulting in strong institutional ownership at 97.63%.
• DNOW recently received a "strong-buy" rating from Zacks Research, with analysts setting an average price target of $18.00.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,116,482 shares of the oil and gas company's stock after selling 271,287 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.00% of DNOW worth $36,149,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Bridgeway Capital Management LLC increased its position in shares of DNOW by 1.2% during the 1st quarter. Bridgeway Capital Management LLC now owns 984,619 shares of the oil and gas company's stock valued at $16,817,000 after purchasing an additional 11,530 shares during the last quarter. Royal Bank of Canada increased its position in shares of DNOW by 28.2% during the 1st quarter. Royal Bank of Canada now owns 35,783 shares of the oil and gas company's stock valued at $611,000 after purchasing an additional 7,867 shares during the last quarter. Graham Capital Management L.P. increased its position in shares of DNOW by 20.0% during the 1st quarter. Graham Capital Management L.P. now owns 91,308 shares of the oil and gas company's stock valued at $1,560,000 after purchasing an additional 15,236 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of DNOW by 62.8% during the 1st quarter. Panagora Asset Management Inc. now owns 165,541 shares of the oil and gas company's stock valued at $2,827,000 after purchasing an additional 63,878 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in DNOW during the 1st quarter worth approximately $500,000. 97.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DNOW has been the topic of several recent research reports. Stifel Nicolaus reduced their price target on DNOW from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Zacks Research upgraded DNOW to a "strong-buy" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $18.00.

DNOW Trading Down 1.8%

Shares of DNOW stock traded down $0.29 during trading hours on Friday, reaching $15.44. The company's stock had a trading volume of 147,209 shares, compared to its average volume of 1,126,432. The stock has a market capitalization of $1.65 billion, a P/E ratio of 20.31 and a beta of 1.21. DNOW Inc. has a one year low of $11.54 and a one year high of $18.45. The firm's fifty day simple moving average is $15.07 and its 200 day simple moving average is $15.26.

DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. The firm had revenue of $628.00 million for the quarter, compared to analyst estimates of $612.60 million. DNOW had a return on equity of 8.97% and a net margin of 3.45%.The business's quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. As a group, equities research analysts forecast that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

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.