DNOW Inc. (NYSE:DNOW) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its stake in DNOW Inc. (NYSE:DNOW) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,250 shares of the oil and gas company’s stock after selling 4,831 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.05% of DNOW worth $745,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of DNOW by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 513,304 shares of the oil and gas company’s stock worth $6,678,000 after buying an additional 11,441 shares during the period. Empowered Funds LLC raised its stake in shares of DNOW by 5.1% during the 4th quarter. Empowered Funds LLC now owns 563,089 shares of the oil and gas company’s stock worth $7,326,000 after buying an additional 27,429 shares during the period. Highland Capital Management LLC raised its stake in shares of DNOW by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company’s stock worth $228,000 after buying an additional 1,097 shares during the period. Pacer Advisors Inc. raised its stake in shares of DNOW by 9.4% during the 4th quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company’s stock worth $82,063,000 after buying an additional 543,403 shares during the period. Finally, KBC Group NV raised its stake in shares of DNOW by 72.4% during the 4th quarter. KBC Group NV now owns 6,560 shares of the oil and gas company’s stock worth $85,000 after buying an additional 2,754 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Performance

NYSE DNOW opened at $15.08 on Tuesday. The business has a fifty day moving average price of $14.51 and a 200 day moving average price of $13.67. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45. The company has a market cap of $1.59 billion, a P/E ratio of 20.66 and a beta of 1.53.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. As a group, sell-side analysts predict that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW declared that its board has approved a stock buyback plan on Friday, January 24th that permits the company to repurchase $160.00 million in shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DNOW shares. StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Stifel Nicolaus upped their target price on DNOW from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, February 14th.

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.