Amalgamated Bank Cuts Stock Position in DNOW Inc. (NYSE:DNOW)

Amalgamated Bank trimmed its holdings in shares of DNOW Inc. (NYSE:DNOW) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,059 shares of the oil and gas company’s stock after selling 952 shares during the period. Amalgamated Bank’s holdings in DNOW were worth $440,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in DNOW by 1,062.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 2,561 shares during the last quarter. Headlands Technologies LLC purchased a new stake in DNOW during the 1st quarter valued at $44,000. Innealta Capital LLC purchased a new stake in DNOW during the 2nd quarter valued at $67,000. CWM LLC boosted its stake in DNOW by 144.9% during the 2nd quarter. CWM LLC now owns 6,767 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 4,004 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in DNOW during the 2nd quarter valued at $94,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on DNOW. Susquehanna lowered their price target on DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Stifel Nicolaus increased their price target on DNOW from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a report on Thursday, August 15th.

DNOW Stock Performance

Shares of DNOW stock opened at $12.83 on Monday. DNOW Inc. has a one year low of $9.44 and a one year high of $15.65. The stock’s fifty day moving average is $13.11 and its 200 day moving average is $13.81. The stock has a market cap of $1.37 billion, a P/E ratio of 5.91 and a beta of 1.43.

DNOW (NYSE:DNOW) last announced its earnings results on Wednesday, August 7th. The oil and gas company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). DNOW had a return on equity of 9.93% and a net margin of 9.70%. The company had revenue of $633.00 million during the quarter, compared to the consensus estimate of $638.20 million. Analysts predict that DNOW Inc. will post 0.86 EPS for the current year.

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.