DNOW Inc. (NYSE:DNOW) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in shares of DNOW Inc. (NYSE:DNOW) by 4.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 53,248 shares of the oil and gas company’s stock after selling 2,205 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of DNOW worth $688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWM LLC boosted its holdings in DNOW by 144.9% in the second 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. Summit Global Investments boosted its stake in shares of DNOW by 25.4% during the 2nd quarter. Summit Global Investments now owns 70,205 shares of the oil and gas company’s stock valued at $964,000 after buying an additional 14,207 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of DNOW by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 68,946 shares of the oil and gas company’s stock worth $947,000 after buying an additional 1,068 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of DNOW by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the oil and gas company’s stock worth $737,000 after buying an additional 1,000 shares during the last quarter. Finally, Highland Capital Management LLC boosted its stake in DNOW by 14.1% during the 2nd quarter. Highland Capital Management LLC now owns 14,748 shares of the oil and gas company’s stock valued at $202,000 after acquiring an additional 1,827 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Insider Buying and Selling

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of DNOW stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total value of $401,955.10. Following the completion of the transaction, the director now directly owns 56,568 shares in the company, valued at $868,318.80. The trade was a 31.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by company insiders.

DNOW Stock Performance

DNOW opened at $14.42 on Friday. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.65. The company has a 50-day moving average of $13.62 and a 200-day moving average of $13.42. The company has a market capitalization of $1.53 billion, a P/E ratio of 7.71 and a beta of 1.50.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $606.00 million for the quarter, compared to analysts’ expectations of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. DNOW’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. As a group, sell-side analysts expect that DNOW Inc. will post 0.81 earnings per share for the current fiscal year.

About DNOW

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.