American International Group Inc. Acquires 4,027 Shares of NOW Inc (DNOW)

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American International Group Inc. boosted its holdings in NOW Inc (NYSE:DNOW) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 289,958 shares of the oil and gas company’s stock after buying an additional 4,027 shares during the quarter. American International Group Inc. owned 0.27% of NOW worth $4,799,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. grew its position in NOW by 1.2% during the 3rd quarter. BlackRock Inc. now owns 11,882,925 shares of the oil and gas company’s stock worth $196,662,000 after purchasing an additional 141,825 shares in the last quarter. Dimensional Fund Advisors LP grew its position in NOW by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,636,170 shares of the oil and gas company’s stock worth $88,460,000 after purchasing an additional 1,122,053 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in NOW by 4.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,944,188 shares of the oil and gas company’s stock worth $98,376,000 after purchasing an additional 236,030 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in NOW during the 3rd quarter worth approximately $27,284,000. Finally, Schwab Charles Investment Management Inc. grew its position in NOW by 11.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,598,846 shares of the oil and gas company’s stock worth $21,313,000 after purchasing an additional 162,625 shares in the last quarter.

NOW stock opened at $13.48 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.72. NOW Inc has a 12 month low of $9.12 and a 12 month high of $18.56. The firm has a market cap of $1.56 billion, a PE ratio of -49.93 and a beta of 1.29.

NOW (NYSE:DNOW) last posted its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. NOW had a net margin of 1.09% and a return on equity of 2.43%. The business had revenue of $822.00 million for the quarter, compared to analysts’ expectations of $805.80 million. During the same period in the previous year, the company posted ($0.03) EPS. NOW’s revenue was up 17.9% on a year-over-year basis. As a group, equities analysts expect that NOW Inc will post 0.34 earnings per share for the current fiscal year.

Several research firms have weighed in on DNOW. Zacks Investment Research cut shares of NOW from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Robert W. Baird lowered their price objective on shares of NOW from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Cowen began coverage on shares of NOW in a research report on Saturday, October 13th. They set a “hold” rating and a $17.00 price objective on the stock. Finally, ValuEngine cut shares of NOW from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.44.

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About NOW

NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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