DNOW Inc. (NYSE:DNOW) Position Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of DNOW Inc. (NYSE:DNOW) by 4.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 501,863 shares of the oil and gas company’s stock after selling 25,076 shares during the period. Principal Financial Group Inc.’s holdings in DNOW were worth $6,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its position in shares of DNOW by 71.5% during the second quarter. Pacer Advisors Inc. now owns 7,047,909 shares of the oil and gas company’s stock worth $96,768,000 after acquiring an additional 2,939,502 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of DNOW by 141.2% during the second quarter. American Century Companies Inc. now owns 1,568,267 shares of the oil and gas company’s stock valued at $21,532,000 after buying an additional 918,131 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of DNOW by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company’s stock worth $88,511,000 after buying an additional 390,671 shares during the period. Acadian Asset Management LLC bought a new position in DNOW in the 1st quarter worth approximately $4,571,000. Finally, AQR Capital Management LLC increased its position in DNOW by 21.9% in the 2nd quarter. AQR Capital Management LLC now owns 827,965 shares of the oil and gas company’s stock valued at $11,368,000 after acquiring an additional 148,549 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

DNOW Stock Down 0.3 %

Shares of DNOW opened at $14.36 on Wednesday. DNOW Inc. has a 52-week low of $9.44 and a 52-week high of $15.65. The firm has a market capitalization of $1.52 billion, a PE ratio of 7.68 and a beta of 1.45. The firm has a 50-day moving average price of $12.80 and a 200 day moving average price of $13.31.

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