Great Lakes Advisors LLC Decreases Stake in Dril-Quip, Inc. (NYSE:DRQ)

Great Lakes Advisors LLC lowered its position in shares of Dril-Quip, Inc. (NYSE:DRQGet Rating) by 15.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 230,270 shares of the oil and gas company’s stock after selling 42,042 shares during the quarter. Great Lakes Advisors LLC owned about 0.67% of Dril-Quip worth $8,601,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DRQ. Gamco Investors INC. ET AL boosted its holdings in Dril-Quip by 94.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,172,450 shares of the oil and gas company’s stock worth $23,074,000 after acquiring an additional 568,190 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in Dril-Quip by 9.5% in the 4th quarter. Segall Bryant & Hamill LLC now owns 847,733 shares of the oil and gas company’s stock worth $16,684,000 after acquiring an additional 73,342 shares during the period. Heartland Advisors Inc. raised its position in shares of Dril-Quip by 15.2% in the 4th quarter. Heartland Advisors Inc. now owns 383,582 shares of the oil and gas company’s stock valued at $7,549,000 after purchasing an additional 50,648 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Dril-Quip in the 4th quarter valued at approximately $3,216,000. Finally, Gabelli Funds LLC raised its position in shares of Dril-Quip by 137.6% during the 4th quarter. Gabelli Funds LLC now owns 129,000 shares of the oil and gas company’s stock valued at $2,539,000 after acquiring an additional 74,700 shares in the last quarter. Hedge funds and other institutional investors own 99.64% of the company’s stock.

Insiders Place Their Bets

In other Dril-Quip news, VP James C. Webster sold 10,000 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $25.14, for a total value of $251,400.00. Following the sale, the vice president now directly owns 48,108 shares of the company’s stock, valued at $1,209,435.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Dril-Quip news, CEO Jeffrey J. Bird sold 2,500 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $25.00, for a total value of $62,500.00. Following the sale, the chief executive officer now directly owns 98,998 shares of the company’s stock, valued at $2,474,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP James C. Webster sold 10,000 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $25.14, for a total value of $251,400.00. Following the completion of the sale, the vice president now directly owns 48,108 shares in the company, valued at $1,209,435.12. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

Dril-Quip Price Performance

DRQ stock opened at $21.53 on Friday. Dril-Quip, Inc. has a 12-month low of $18.17 and a 12-month high of $41.23. The stock’s 50 day simple moving average is $25.90 and its 200 day simple moving average is $29.12.

Dril-Quip (NYSE:DRQGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $93.98 million for the quarter, compared to analyst estimates of $87.88 million. Dril-Quip had a negative return on equity of 4.66% and a negative net margin of 26.35%. The business’s revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.53) EPS. On average, sell-side analysts forecast that Dril-Quip, Inc. will post -0.5 earnings per share for the current year.

Dril-Quip Profile

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Dril-Quip, Inc, together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. The company's principal products include subsea and surface wellheads, subsea and surface production trees, mudline hanger systems, specialty connectors and associated pipes, drilling and production riser systems, liner hangers, wellhead connectors, diverters, and safety valves, as well as downhole tools.

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Institutional Ownership by Quarter for Dril-Quip (NYSE:DRQ)

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