Voya Investment Management LLC Sells 138,058 Shares of DNOW Inc. (NYSE:DNOW)

Voya Investment Management LLC cut its stake in DNOW Inc. (NYSE:DNOW - Free Report) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 410,618 shares of the oil and gas company's stock after selling 138,058 shares during the period. Voya Investment Management LLC owned approximately 0.39% of DNOW worth $5,342,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its position in shares of DNOW by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock worth $26,000 after buying an additional 885 shares during the period. KBC Group NV grew its holdings in shares of DNOW by 72.4% during the fourth quarter. KBC Group NV now owns 6,560 shares of the oil and gas company's stock valued at $85,000 after purchasing an additional 2,754 shares during the last quarter. Polymer Capital Management US LLC acquired a new stake in DNOW in the fourth quarter worth $192,000. Pictet Asset Management Holding SA lifted its stake in DNOW by 23.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company's stock valued at $205,000 after buying an additional 2,947 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of DNOW during the fourth quarter valued at $221,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

DNOW Stock Performance

Shares of NYSE DNOW traded down $0.05 during mid-day trading on Tuesday, reaching $16.03. The company had a trading volume of 106,056 shares, compared to its average volume of 923,261. The stock has a fifty day moving average of $15.72 and a two-hundred day moving average of $14.68. DNOW Inc. has a 12-month low of $11.42 and a 12-month high of $18.45. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 21.96 and a beta of 1.20.

DNOW (NYSE:DNOW - Get Free Report) last issued its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. Sell-side analysts forecast that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW declared that its Board of Directors has authorized a stock repurchase program on Friday, January 24th that permits the company to repurchase $160.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

DNOW has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Stifel Nicolaus boosted their price objective on DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, Susquehanna lowered their target price on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th.

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.