Heartland Advisors Inc. Sells 156,745 Shares of NOW Inc (DNOW)

Heartland Advisors Inc. lowered its holdings in NOW Inc (NYSE:DNOW) by 18.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 706,848 shares of the oil and gas company’s stock after selling 156,745 shares during the period. Heartland Advisors Inc.’s holdings in NOW were worth $11,698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hennessy Advisors Inc. bought a new stake in NOW in the 3rd quarter valued at about $27,284,000. BlackRock Inc. boosted its holdings in NOW by 3.8% in the 2nd quarter. BlackRock Inc. now owns 11,741,100 shares of the oil and gas company’s stock valued at $156,509,000 after purchasing an additional 425,281 shares during the period. Millennium Management LLC bought a new stake in NOW in the 2nd quarter valued at about $15,382,000. Global X Management Co LLC boosted its holdings in NOW by 19.1% in the 2nd quarter. Global X Management Co LLC now owns 27,531 shares of the oil and gas company’s stock valued at $367,000 after purchasing an additional 4,410 shares during the period. Finally, Bank of Montreal Can boosted its holdings in NOW by 117.4% in the 2nd quarter. Bank of Montreal Can now owns 1,347,033 shares of the oil and gas company’s stock valued at $17,956,000 after purchasing an additional 727,326 shares during the period.

Shares of NOW stock opened at $14.57 on Friday. NOW Inc has a 1-year low of $9.12 and a 1-year high of $18.56. The company has a quick ratio of 1.44, a current ratio of 2.72 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.58 billion, a PE ratio of 53.96 and a beta of 1.28.

NOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, November 1st. The oil and gas company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.04. NOW had a net margin of 1.09% and a return on equity of 2.43%. The company had revenue of $822.00 million during the quarter, compared to the consensus estimate of $805.80 million. During the same quarter in the prior year, the firm posted ($0.03) EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. On average, research analysts forecast that NOW Inc will post 0.33 earnings per share for the current year.

A number of research firms have issued reports on DNOW. ValuEngine raised shares of NOW from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Cowen boosted their price objective on shares of NOW from $12.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, August 3rd. Robert W. Baird reissued a “hold” rating and issued a $17.00 price objective on shares of NOW in a report on Friday, August 3rd. Zacks Investment Research downgraded shares of NOW from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Finally, Northcoast Research began coverage on shares of NOW in a report on Tuesday, July 31st. They issued a “neutral” rating for the company. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $15.44.

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NOW Profile

NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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