Greenwood Capital Associates LLC Has $606,000 Stock Holdings in DNOW Inc. (NYSE:DNOW)

Greenwood Capital Associates LLC reduced its stake in shares of DNOW Inc. (NYSE:DNOW) by 13.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 46,606 shares of the oil and gas company’s stock after selling 7,088 shares during the period. Greenwood Capital Associates LLC’s holdings in DNOW were worth $606,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. KBC Group NV raised its holdings in shares of DNOW by 45.5% during the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,190 shares during the period. nVerses Capital LLC bought a new position in DNOW during the 3rd quarter worth about $78,000. GW Henssler & Associates Ltd. acquired a new stake in shares of DNOW in the 3rd quarter valued at about $182,000. Coldstream Capital Management Inc. lifted its holdings in shares of DNOW by 10.1% in the third quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock valued at $182,000 after purchasing an additional 1,291 shares in the last quarter. Finally, Prospera Financial Services Inc acquired a new position in shares of DNOW during the third quarter worth about $187,000. Institutional investors own 97.63% of the company’s stock.

Insiders Place Their Bets

In related news, Director Paul M. Coppinger sold 26,186 shares of DNOW stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total value of $401,955.10. Following the sale, the director now owns 56,568 shares of the company’s stock, valued at approximately $868,318.80. The trade was a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

DNOW Stock Performance

NYSE:DNOW opened at $15.06 on Wednesday. The stock has a 50-day simple moving average of $13.98 and a 200 day simple moving average of $13.42. DNOW Inc. has a 52-week low of $9.44 and a 52-week high of $15.65. The company has a market cap of $1.59 billion, a PE ratio of 8.06 and a beta of 1.53.

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 analysts’ consensus estimates of $0.19 by $0.02. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The company had revenue of $606.00 million for the quarter, compared to the consensus estimate of $614.92 million. During the same period last year, the company earned $0.25 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. On average, research analysts predict that DNOW Inc. will post 0.81 earnings per share for the current fiscal year.

DNOW declared that its board has authorized a stock buyback program on Friday, January 24th that authorizes the company to buyback $160.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.