Dalton Greiner Hartman Maher & Co. Has $21.89 Million Position in Dril-Quip, Inc. (DRQ)

Dalton Greiner Hartman Maher & Co. reduced its position in shares of Dril-Quip, Inc. (NYSE:DRQ) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 458,892 shares of the oil and gas company’s stock after selling 8,907 shares during the period. Dril-Quip makes up approximately 1.1% of Dalton Greiner Hartman Maher & Co.’s portfolio, making the stock its 24th largest position. Dalton Greiner Hartman Maher & Co.’s holdings in Dril-Quip were worth $21,889,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Shell Asset Management Co. purchased a new position in Dril-Quip during the third quarter worth about $1,742,000. Nordea Investment Management AB raised its holdings in Dril-Quip by 51.8% during the third quarter. Nordea Investment Management AB now owns 54,931 shares of the oil and gas company’s stock worth $2,425,000 after purchasing an additional 18,739 shares in the last quarter. BlackRock Inc. raised its holdings in Dril-Quip by 17.9% during the second quarter. BlackRock Inc. now owns 4,221,751 shares of the oil and gas company’s stock worth $206,022,000 after purchasing an additional 640,319 shares in the last quarter. State Street Corp raised its holdings in Dril-Quip by 22.0% during the second quarter. State Street Corp now owns 1,441,200 shares of the oil and gas company’s stock worth $70,327,000 after purchasing an additional 260,352 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Dril-Quip by 119.7% during the second quarter. Northern Trust Corp now owns 1,042,035 shares of the oil and gas company’s stock worth $50,851,000 after purchasing an additional 567,821 shares in the last quarter.

Shares of Dril-Quip, Inc. (NYSE:DRQ) traded down $0.50 during trading on Wednesday, reaching $53.70. 828,400 shares of the company’s stock were exchanged, compared to its average volume of 705,150. Dril-Quip, Inc. has a 12 month low of $35.85 and a 12 month high of $67.95. The stock has a market capitalization of $2,010.00, a PE ratio of -72.57 and a beta of 0.74.

Dril-Quip (NYSE:DRQ) last issued its earnings results on Friday, October 27th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The company had revenue of $100.35 million during the quarter, compared to analysts’ expectations of $106.74 million. During the same period last year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was down 18.8% compared to the same quarter last year. analysts expect that Dril-Quip, Inc. will post 0.21 EPS for the current year.

In other news, insider Blake T. Deberry sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $44.66, for a total transaction of $446,600.00. Following the completion of the transaction, the insider now directly owns 126,208 shares of the company’s stock, valued at approximately $5,636,449.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James C. Webster sold 4,890 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $41.49, for a total transaction of $202,886.10. Following the transaction, the vice president now directly owns 34,947 shares of the company’s stock, valued at $1,449,951.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,662 shares of company stock valued at $1,927,019. 0.87% of the stock is currently owned by corporate insiders.

Several research analysts recently issued reports on DRQ shares. TheStreet cut shares of Dril-Quip from a “c” rating to a “d+” rating in a report on Friday, October 27th. Zacks Investment Research cut shares of Dril-Quip from a “buy” rating to a “hold” rating in a report on Friday, November 10th. FBR & Co reaffirmed a “buy” rating on shares of Dril-Quip in a report on Friday, October 27th. Scotiabank set a $61.00 target price on shares of Dril-Quip and gave the company a “hold” rating in a report on Friday, October 27th. Finally, Gabelli started coverage on shares of Dril-Quip in a report on Friday, October 20th. They issued a “hold” rating and a $43.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $48.57.

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About Dril-Quip

Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.

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Institutional Ownership by Quarter for Dril-Quip (NYSE:DRQ)

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