Nordea Investment Management AB Has $4.26 Million Stock Position in DNOW Inc. (NYSE:DNOW)

Nordea Investment Management AB boosted its stake in shares of DNOW Inc. (NYSE:DNOW) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 327,246 shares of the oil and gas company’s stock after purchasing an additional 4,582 shares during the quarter. Nordea Investment Management AB owned 0.31% of DNOW worth $4,257,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its position in DNOW by 71.5% in 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 purchasing an additional 2,939,502 shares during the period. American Century Companies Inc. increased its holdings in DNOW by 141.2% in the 2nd 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 period. Dimensional Fund Advisors LP raised its stake in shares of DNOW by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company’s stock valued at $88,511,000 after buying an additional 390,671 shares in the last quarter. Foundry Partners LLC boosted its position in shares of DNOW by 832.0% during the 3rd quarter. Foundry Partners LLC now owns 365,795 shares of the oil and gas company’s stock valued at $4,730,000 after acquiring an additional 326,547 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of DNOW during the 3rd quarter valued at about $2,025,000. 97.63% of the stock is owned by institutional investors.

Insider Activity at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total transaction of $401,955.10. Following the sale, the director now owns 56,568 shares in the company, valued at approximately $868,318.80. This represents a 31.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by insiders.

DNOW Stock Down 1.1 %

NYSE DNOW opened at $12.82 on Friday. The stock has a market cap of $1.36 billion, a P/E ratio of 6.86 and a beta of 1.53. DNOW Inc. has a twelve month low of $9.44 and a twelve month high of $15.65. The company’s 50-day simple moving average is $13.96 and its 200 day simple moving average is $13.35.

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 business had revenue of $606.00 million during the quarter, compared to the consensus estimate of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. DNOW’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. Research analysts anticipate that DNOW Inc. will post 0.81 earnings per share for the current 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.