Meeder Asset Management Inc. Takes $759,000 Position in NOW Inc (NYSE:DNOW)

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Meeder Asset Management Inc. acquired a new stake in NOW Inc (NYSE:DNOW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,404 shares of the oil and gas company’s stock, valued at approximately $759,000.

A number of other large investors have also added to or reduced their stakes in the stock. Swiss National Bank increased its stake in shares of NOW by 2.1% in the 2nd quarter. Swiss National Bank now owns 201,800 shares of the oil and gas company’s stock valued at $2,979,000 after acquiring an additional 4,200 shares in the last quarter. Dupont Capital Management Corp increased its stake in NOW by 34.5% during the 2nd quarter. Dupont Capital Management Corp now owns 11,700 shares of the oil and gas company’s stock valued at $173,000 after purchasing an additional 3,000 shares in the last quarter. Alpha Windward LLC bought a new stake in NOW during the 2nd quarter valued at $404,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in NOW during the 2nd quarter valued at $285,000. Finally, Arizona State Retirement System increased its stake in NOW by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 78,906 shares of the oil and gas company’s stock valued at $1,165,000 after purchasing an additional 1,040 shares in the last quarter.

Shares of DNOW stock opened at $12.01 on Thursday. The firm has a market capitalization of $1.30 billion, a PE ratio of 33.36 and a beta of 1.41. The firm has a fifty day simple moving average of $12.62 and a two-hundred day simple moving average of $13.88. The company has a current ratio of 2.55, a quick ratio of 1.28 and a debt-to-equity ratio of 0.08. NOW Inc has a 12 month low of $10.36 and a 12 month high of $17.58.

NOW (NYSE:DNOW) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.09. The firm had revenue of $776.00 million for the quarter, compared to the consensus estimate of $767.19 million. NOW had a net margin of 2.16% and a return on equity of 4.13%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. On average, equities analysts predict that NOW Inc will post 0.38 earnings per share for the current fiscal year.

A number of analysts have commented on the stock. Stifel Nicolaus decreased their price target on shares of NOW from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, July 15th. Zacks Investment Research upgraded shares of NOW from a “sell” rating to a “hold” rating in a research note on Tuesday. Capital One Financial upgraded shares of NOW from an “equal weight” rating to an “overweight” rating and set a $16.00 price target for the company in a research note on Friday, August 2nd. Cowen restated a “market perform” rating and set a $10.00 price target (down previously from $11.00) on shares of NOW in a research note on Monday, August 5th. Finally, ValuEngine lowered shares of NOW from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $13.80.

NOW 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, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as applied products and applications, such as artificial lift systems, coatings, and other expendable items.

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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