Ameriprise Financial Inc. increased its position in shares of Now Inc. (NYSE:DNOW) by 2.9% during the second quarter, Holdings Channel reports. The firm owned 302,390 shares of the company’s stock after buying an additional 8,405 shares during the period. Ameriprise Financial Inc. owned approximately 0.28% of Now worth $5,485,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in DNOW. State Treasurer State of Michigan raised its stake in Now by 0.7% in the second quarter. State Treasurer State of Michigan now owns 43,127 shares of the company’s stock worth $782,000 after buying an additional 300 shares during the period. SeaBridge Investment Advisors LLC raised its stake in Now by 4.2% in the second quarter. SeaBridge Investment Advisors LLC now owns 8,462 shares of the company’s stock worth $154,000 after buying an additional 339 shares during the period. DAVENPORT & Co LLC raised its stake in Now by 7.5% in the second quarter. DAVENPORT & Co LLC now owns 10,812 shares of the company’s stock worth $196,000 after buying an additional 755 shares during the period. Swiss National Bank raised its stake in Now by 1.1% in the second quarter. Swiss National Bank now owns 183,400 shares of the company’s stock worth $3,327,000 after buying an additional 2,000 shares during the period. Finally, BB&T Securities LLC raised its stake in Now by 18.7% in the first quarter. BB&T Securities LLC now owns 15,038 shares of the company’s stock worth $266,000 after buying an additional 2,374 shares during the period. 96.87% of the stock is owned by institutional investors.
Now Inc. (NYSE:DNOW) traded up 0.55% on Friday, reaching $21.90. The company’s stock had a trading volume of 91,954 shares. The firm has a 50-day moving average of $20.72 and a 200-day moving average of $18.96. Now Inc. has a one year low of $12.03 and a one year high of $22.81. The company’s market capitalization is $2.35 billion.
Now (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.40) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.06. The firm earned $501 million during the quarter, compared to analyst estimates of $456.96 million. Now had a negative return on equity of 8.92% and a negative net margin of 23.71%. The business’s quarterly revenue was down 33.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) earnings per share. Analysts predict that Now Inc. will post ($1.52) EPS for the current year.
A number of research firms have recently weighed in on DNOW. Zacks Investment Research raised Now from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. KeyCorp reaffirmed a “hold” rating on shares of Now in a research report on Tuesday, September 27th. Finally, Cowen and Company began coverage on Now in a research report on Friday, September 16th. They set a “market perform” rating and a $22.00 price target for the company. Five research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $18.00.
Now Company Profile
NOW Inc (NOW) is a global distributor to energy and industrial markets. The Company operates primarily under the DistributionNOW and Wilson Export brands. The Company operates through three segments: United States (U.S.), Canada and International. Through its network of over 300 locations across the world, it stocks and sells an offering of energy products, as well as a selection of products for industrial applications.
Want to see what other hedge funds are holding DNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Now Inc. (NYSE:DNOW).
Receive News & Ratings for Now Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Now Inc. and related companies with MarketBeat.com's FREE daily email newsletter.