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

Greenwood Capital Associates LLC reduced its position in DNOW Inc. (NYSE:DNOW) by 13.2% in the 4th quarter, according to its most recent filing with the SEC. The fund 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. KBC Group NV lifted its position in shares of DNOW by 45.5% in the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,190 shares during the last quarter. nVerses Capital LLC bought a new stake in DNOW in the 3rd quarter valued at $78,000. GW Henssler & Associates Ltd. bought a new position in DNOW during the third quarter worth $182,000. Coldstream Capital Management Inc. boosted its position in DNOW by 10.1% during the third 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. Finally, Prospera Financial Services Inc acquired a new position in shares of DNOW in the third quarter valued at $187,000. Institutional investors own 97.63% of the company’s stock.

Insider Buying and Selling at DNOW

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total value of $401,955.10. Following the completion of the sale, the director now owns 56,568 shares of the company’s stock, valued at $868,318.80. The trade was a 31.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

DNOW Stock Performance

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

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 earnings per share. As a group, analysts predict that DNOW Inc. will post 0.81 EPS for the current fiscal year.

DNOW announced that its Board of Directors has initiated a stock repurchase plan 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 plans are typically an indication that the company’s management believes its stock is undervalued.

About DNOW

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.