Charles Schwab Investment Management Inc. Boosts Stake in Drilling Tools International Co. (NASDAQ:DTI)

Charles Schwab Investment Management Inc. increased its stake in Drilling Tools International Co. (NASDAQ:DTI) by 28.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,283 shares of the company’s stock after acquiring an additional 6,201 shares during the period. Charles Schwab Investment Management Inc. owned about 0.08% of Drilling Tools International worth $105,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers bought a new position in Drilling Tools International during the second quarter valued at approximately $49,000. Woodstock Corp purchased a new stake in shares of Drilling Tools International in the 3rd quarter valued at $57,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Drilling Tools International during the 2nd quarter valued at $99,000. Institutional investors own 2.79% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners lowered their price target on shares of Drilling Tools International from $7.50 to $5.50 and set a “buy” rating for the company in a research note on Friday, November 15th.

Drilling Tools International Price Performance

DTI opened at $3.15 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.32 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $3.43 and its 200 day simple moving average is $4.26. The firm has a market cap of $109.32 million, a price-to-earnings ratio of 11.25, a PEG ratio of 1.04 and a beta of -0.90. Drilling Tools International Co. has a 1 year low of $2.43 and a 1 year high of $6.36.

Drilling Tools International Company Profile

Drilling Tools International Corporation provides oilfield equipment and services to oil and natural gas sectors in North America, Europe, and the Middle East. It offers downhole tool rentals, machining, and inspection services to support the global drilling and wellbore construction industry. The company also provides products are bottom hole assembly components, such as stabilizers, subs, non-magnetic and steel drill collars, hole openers, and roller reamers, as well as drill pipe and drill pipe accessories; ancillary equipment and handling tools to support its rental platform, including float valves, ring gauges, tool baskets, lift bail, lift subs, mud magnets, elevators, bracket and bail assemblies, slips, tongs, stabbing guides and safety clamps; and blowout preventers, and pressure control accessory equipment.