Global Alpha Capital Management Ltd. Decreases Stake in DNOW Inc. (NYSE:DNOW)

Global Alpha Capital Management Ltd. reduced its position in DNOW Inc. (NYSE:DNOW) by 0.3% during the fourth quarter, HoldingsChannel reports. The fund owned 2,615,526 shares of the oil and gas company’s stock after selling 6,900 shares during the quarter. DNOW comprises 2.5% of Global Alpha Capital Management Ltd.’s holdings, making the stock its 17th biggest position. Global Alpha Capital Management Ltd.’s holdings in DNOW were worth $34,028,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in shares of DNOW by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 885 shares during the period. KBC Group NV lifted its holdings in DNOW by 45.5% during the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,190 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in DNOW by 10.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 1,291 shares during the period. Prospera Financial Services Inc purchased a new position in DNOW during the 3rd quarter valued at about $187,000. Finally, HighTower Advisors LLC increased its position in shares of DNOW by 9.7% during the third quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company’s stock valued at $211,000 after buying an additional 1,458 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Stock Up 1.6 %

DNOW stock opened at $15.30 on Friday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 20.95 and a beta of 1.51. The business has a 50-day simple moving average of $14.72 and a 200 day simple moving average of $13.74. DNOW Inc. has a 52 week low of $11.42 and a 52 week high of $18.45.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. On average, research analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW declared that its Board of Directors has initiated a stock repurchase program on Friday, January 24th that authorizes the company to repurchase $160.00 million in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DNOW. StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Stifel Nicolaus increased their target price on shares of DNOW from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, February 14th.

DNOW Company 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.