MetLife Investment Advisors LLC Takes Position in DistributionNOW (DNOW)

MetLife Investment Advisors LLC acquired a new position in shares of DistributionNOW (NYSE:DNOW) in the fourth quarter, HoldingsChannel reports. The firm acquired 119,393 shares of the oil and gas company’s stock, valued at approximately $1,317,000.

Several other institutional investors have also bought and sold shares of DNOW. Cooke & Bieler LP boosted its stake in shares of DistributionNOW by 1,008.5% during the 4th quarter. Cooke & Bieler LP now owns 1,879,980 shares of the oil and gas company’s stock worth $20,736,000 after buying an additional 1,710,380 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of DistributionNOW by 968.1% during the 4th quarter. Two Sigma Investments LP now owns 635,515 shares of the oil and gas company’s stock worth $7,010,000 after buying an additional 576,015 shares during the last quarter. CLS Investments LLC boosted its stake in shares of DistributionNOW by 86.9% during the 4th quarter. CLS Investments LLC now owns 1,095,400 shares of the oil and gas company’s stock worth $12,082,000 after buying an additional 509,400 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of DistributionNOW by 5.8% during the 4th quarter. Clearbridge Investments LLC now owns 8,274,837 shares of the oil and gas company’s stock worth $91,271,000 after buying an additional 453,852 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of DistributionNOW by 320.1% during the 4th quarter. Guggenheim Capital LLC now owns 408,612 shares of the oil and gas company’s stock worth $4,506,000 after buying an additional 311,348 shares during the last quarter.

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Shares of NYSE:DNOW opened at $10.85 on Monday. DistributionNOW has a 52-week low of $9.12 and a 52-week high of $18.37. The stock has a market capitalization of $1,172.13, a P/E ratio of -40.19 and a beta of 0.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 1.37.

DistributionNOW (NYSE:DNOW) last issued its earnings results on Wednesday, February 14th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. The business had revenue of $669.00 million during the quarter, compared to the consensus estimate of $690.62 million. DistributionNOW had a negative net margin of 1.96% and a negative return on equity of 2.46%. DistributionNOW’s revenue was up 24.3% on a year-over-year basis. During the same period last year, the business posted ($0.29) EPS. sell-side analysts expect that DistributionNOW will post 0.07 EPS for the current year.

Several equities research analysts recently issued reports on the stock. KeyCorp cut their target price on shares of DistributionNOW from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, February 15th. ValuEngine downgraded shares of DistributionNOW from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of DistributionNOW from a “sell” rating to a “hold” rating in a research note on Wednesday, January 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $15.00 target price (up from $12.50) on shares of DistributionNOW in a research note on Tuesday, January 16th. Finally, Susquehanna Bancshares set a $10.00 target price on shares of DistributionNOW and gave the company a “hold” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. DistributionNOW has a consensus rating of “Hold” and an average price target of $12.50.

In related news, CEO Robert R. Workman acquired 28,550 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was purchased at an average cost of $10.51 per share, for a total transaction of $300,060.50. Following the completion of the transaction, the chief executive officer now directly owns 583,616 shares of the company’s stock, valued at approximately $6,133,804.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.50% of the company’s stock.

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DistributionNOW Company Profile

NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.

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Institutional Ownership by Quarter for DistributionNOW (NYSE:DNOW)

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