Foundry Partners LLC Raises Stock Holdings in DNOW Inc. (NYSE:DNOW)

Foundry Partners LLC boosted its holdings in shares of DNOW Inc. (NYSE:DNOW) by 832.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 365,795 shares of the oil and gas company’s stock after purchasing an additional 326,547 shares during the quarter. Foundry Partners LLC’s holdings in DNOW were worth $4,730,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in DNOW by 1,062.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 2,561 shares in the last quarter. KBC Group NV grew its stake in DNOW by 45.5% in the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,190 shares in the last quarter. Quarry LP increased its holdings in DNOW by 75.6% in the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock valued at $61,000 after buying an additional 1,908 shares during the last quarter. Innealta Capital LLC acquired a new stake in DNOW during the second quarter valued at approximately $67,000. Finally, nVerses Capital LLC acquired a new position in shares of DNOW in the 3rd quarter worth approximately $78,000. 97.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

DNOW Price Performance

Shares of NYSE DNOW opened at $14.76 on Friday. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.65. The firm has a market capitalization of $1.56 billion, a PE ratio of 7.95 and a beta of 1.45. The business’s fifty day moving average price is $12.86 and its two-hundred day moving average price is $13.32.

DNOW (NYSE:DNOW) last posted its earnings results on Thursday, November 7th. The oil and gas company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $614.92 million. DNOW had a net margin of 8.70% and a return on equity of 8.90%. DNOW’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. Equities research analysts expect that DNOW Inc. will post 0.84 earnings per share for the current fiscal year.

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.