Fruth Investment Management Makes New $372,000 Investment in DNOW Inc. $DNOW

Fruth Investment Management bought a new position in shares of DNOW Inc. (NYSE:DNOW) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 21,800 shares of the oil and gas company’s stock, valued at approximately $372,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC boosted its position in DNOW by 1.6% during the first quarter. SummerHaven Investment Management LLC now owns 60,319 shares of the oil and gas company’s stock worth $1,030,000 after purchasing an additional 966 shares during the period. GAMMA Investing LLC boosted its position in DNOW by 122.1% during the first quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 1,022 shares during the period. Nisa Investment Advisors LLC boosted its position in DNOW by 15.9% during the first quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 1,073 shares during the period. Sequoia Financial Advisors LLC boosted its position in DNOW by 1.8% during the first quarter. Sequoia Financial Advisors LLC now owns 81,390 shares of the oil and gas company’s stock worth $1,390,000 after purchasing an additional 1,467 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of DNOW by 2,650.0% in the first quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 1,643 shares during the period. Institutional investors own 97.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Zacks Research upgraded shares of DNOW to a “strong-buy” rating in a research report on Friday, August 8th. Stifel Nicolaus cut their price objective on shares of DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $18.00.

DNOW Price Performance

Shares of DNOW opened at $15.77 on Friday. The firm’s 50 day simple moving average is $15.07 and its 200 day simple moving average is $15.26. The company has a market capitalization of $1.69 billion, a P/E ratio of 20.75 and a beta of 1.21. DNOW Inc. has a 1-year low of $11.54 and a 1-year high of $18.45.

DNOW (NYSE:DNOW) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $628.00 million for the quarter, compared to the consensus estimate of $612.60 million. DNOW had a net margin of 3.45% and a return on equity of 8.97%. DNOW’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. On average, equities analysts anticipate that DNOW Inc. will post 0.86 earnings per share 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.