MetLife Investment Management LLC Cuts Stock Holdings in DNOW Inc. $DNOW

MetLife Investment Management LLC trimmed its position in shares of DNOW Inc. (NYSE:DNOW) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,001 shares of the oil and gas company’s stock after selling 1,074 shares during the quarter. MetLife Investment Management LLC’s holdings in DNOW were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in shares of DNOW by 376.3% in the 1st quarter. Ameriprise Financial Inc. now owns 2,914,681 shares of the oil and gas company’s stock worth $49,802,000 after buying an additional 2,302,738 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of DNOW by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,387,769 shares of the oil and gas company’s stock worth $31,065,000 after purchasing an additional 128,252 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of DNOW by 16.8% during the first quarter. American Century Companies Inc. now owns 2,003,050 shares of the oil and gas company’s stock worth $34,212,000 after purchasing an additional 288,311 shares in the last quarter. Northern Trust Corp boosted its stake in DNOW by 8.7% in the fourth quarter. Northern Trust Corp now owns 1,225,767 shares of the oil and gas company’s stock worth $15,947,000 after buying an additional 98,437 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in DNOW by 72.2% in the first quarter. Allianz Asset Management GmbH now owns 1,158,105 shares of the oil and gas company’s stock worth $19,780,000 after buying an additional 485,650 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Price Performance

NYSE:DNOW opened at $15.99 on Friday. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45. The stock’s 50 day simple moving average is $14.98 and its two-hundred day simple moving average is $15.32. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 21.04 and a beta of 1.21.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. DNOW had a return on equity of 8.97% and a net margin of 3.45%.The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $612.60 million. During the same quarter in the previous year, the business earned $0.25 EPS. DNOW’s revenue was down .8% compared to the same quarter last year. As a group, analysts anticipate that DNOW Inc. will post 0.86 EPS for the current year.

Wall Street Analyst Weigh In

DNOW has been the subject of a number of recent analyst reports. Zacks Research upgraded DNOW to a “strong-buy” rating in a report on Friday, August 8th. Stifel Nicolaus reduced their price target on DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.00.

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.