Schwerin Boyle Capital Management Inc. Cuts Position in NOW Inc. (DNOW)

Schwerin Boyle Capital Management Inc. reduced its stake in shares of NOW Inc. (NYSE:DNOW) by 0.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,734 shares of the oil and gas company’s stock after selling 100 shares during the period. Schwerin Boyle Capital Management Inc.’s holdings in NOW were worth $708,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. ETRADE Capital Management LLC acquired a new stake in shares of NOW during the third quarter worth approximately $201,000. Russell Investments Group Ltd. acquired a new stake in shares of NOW during the fourth quarter worth approximately $7,499,000. Comerica Bank raised its stake in shares of NOW by 5.8% in the fourth quarter. Comerica Bank now owns 80,965 shares of the oil and gas company’s stock worth $1,699,000 after buying an additional 4,417 shares during the period. Dimensional Fund Advisors LP raised its stake in NOW by 50.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,416,356 shares of the oil and gas company’s stock valued at $49,463,000 after buying an additional 810,118 shares during the last quarter. Finally, TCW Group Inc. raised its stake in NOW by 69.1% in the fourth quarter. TCW Group Inc. now owns 45,414 shares of the oil and gas company’s stock valued at $930,000 after buying an additional 18,552 shares during the last quarter. Institutional investors own 99.01% of the company’s stock.

Institutional Ownership by Quarter for NOW (NYSE:DNOW)

Shares of NOW Inc. (DNOW) traded up 1.04% on Monday, reaching $17.41. 1,330,572 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $17.37 and a 200 day moving average price of $19.13. The firm’s market cap is $1.87 billion. NOW Inc. has a one year low of $15.47 and a one year high of $23.53.

NOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, May 3rd. The oil and gas company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.08. NOW had a negative return on equity of 10.27% and a negative net margin of 8.86%. The firm had revenue of $631 million for the quarter, compared to the consensus estimate of $605.07 million. During the same quarter last year, the business posted ($0.35) earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year. Analysts expect that NOW Inc. will post ($0.23) EPS for the current fiscal year.

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Several analysts have recently issued reports on the stock. Robert W. Baird upgraded shares of NOW from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $20.00 to $22.00 in a research note on Wednesday, April 26th. Cowen and Company cut their price target on shares of NOW from $22.00 to $19.00 and set a “market perform” rating on the stock in a report on Tuesday, April 11th. Zacks Investment Research downgraded shares of NOW from a “buy” rating to a “hold” rating in a report on Monday, February 20th. KeyCorp reissued an “overweight” rating and issued a $22.00 price target on shares of NOW in a report on Friday, May 26th. Finally, Credit Suisse Group dropped their price objective on shares of NOW from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, May 15th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.50.

In related news, Director James Crandell acquired 5,000 shares of NOW stock in a transaction that occurred on Thursday, May 25th. The shares were purchased at an average price of $17.53 per share, for a total transaction of $87,650.00. Following the completion of the transaction, the director now owns 22,562 shares in the company, valued at approximately $395,511.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.30% of the company’s stock.

NOW Company Profile

NOW Inc (NOW) is a global distributor to the oil and gas and industrial markets. The Company operates under the DistributionNOW and Wilson Export brands. Its segments include the United States, Canada and International. As of December 31, 2016, its segments, the United States, Canada and International, had over 200, 55 and 35 locations, respectively.

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