Global Alpha Capital Management Ltd. Increases Stake in DNOW Inc. $DNOW

Global Alpha Capital Management Ltd. lifted its stake in DNOW Inc. (NYSE:DNOW) by 37.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,774,871 shares of the oil and gas company’s stock after purchasing an additional 749,345 shares during the quarter. DNOW comprises about 2.2% of Global Alpha Capital Management Ltd.’s portfolio, making the stock its 19th largest holding. Global Alpha Capital Management Ltd. owned about 2.64% of DNOW worth $36,767,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. purchased a new position in DNOW during the 4th quarter worth approximately $25,000. Clearstead Advisors LLC raised its position in DNOW by 132.5% during the 4th quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock worth $32,000 after buying an additional 1,383 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in DNOW by 190.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock worth $36,000 after buying an additional 1,589 shares during the last quarter. SBI Securities Co. Ltd. raised its position in DNOW by 17,756.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,857 shares of the oil and gas company’s stock worth $38,000 after buying an additional 2,841 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in DNOW by 960.4% during the 4th quarter. Hantz Financial Services Inc. now owns 2,842 shares of the oil and gas company’s stock worth $38,000 after buying an additional 2,574 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DNOW has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. Stifel Nicolaus reduced their price target on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Wall Street Zen lowered shares of DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, DNOW currently has an average rating of “Hold” and a consensus target price of $17.00.

DNOW Price Performance

Shares of NYSE DNOW opened at $13.22 on Friday. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -18.10 and a beta of 0.82. DNOW Inc. has a 12 month low of $10.94 and a 12 month high of $17.26. The firm’s 50 day simple moving average is $12.70 and its 200-day simple moving average is $13.34. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $0.22 EPS. DNOW’s revenue for the quarter was up 97.5% compared to the same quarter last year. Analysts expect that DNOW Inc. will post 0.31 EPS for the current year.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.