New York State Teachers Retirement System Has $3,518,000 Stake in Now Inc. (DNOW)
New York State Teachers Retirement System boosted its position in shares of Now Inc. (NYSE:DNOW) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 193,962 shares of the company’s stock after buying an additional 10,200 shares during the period. New York State Teachers Retirement System’s holdings in Now were worth $3,518,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of DNOW. LS Investment Advisors LLC boosted its stake in Now by 101.8% in the second quarter. LS Investment Advisors LLC now owns 7,661 shares of the company’s stock valued at $139,000 after buying an additional 3,864 shares during the period. DAVENPORT & Co LLC boosted its stake in Now by 7.5% in the second quarter. DAVENPORT & Co LLC now owns 10,812 shares of the company’s stock valued at $196,000 after buying an additional 755 shares during the period. Pacad Investment Ltd. bought a new stake in Now during the first quarter valued at approximately $198,000. BB&T Securities LLC boosted 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 valued at $266,000 after buying an additional 2,374 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in Now during the first quarter valued at approximately $291,000. Institutional investors own 96.87% of the company’s stock.
Shares of Now Inc. (NYSE:DNOW) traded up 2.95% on Monday, reaching $22.68. The company had a trading volume of 1,234,672 shares. The stock has a 50 day moving average price of $20.60 and a 200-day moving average price of $18.85. Now Inc. has a 12 month low of $12.03 and a 12 month high of $22.81. The company’s market capitalization is $2.44 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 analysts’ consensus estimates of ($0.46) by $0.06. Now had a negative return on equity of 8.92% and a negative net margin of 23.71%. The firm earned $501 million during the quarter, compared to analyst estimates of $456.96 million. During the same quarter last year, the firm earned ($0.16) EPS. Now’s quarterly revenue was down 33.2% on a year-over-year basis. Analysts forecast that Now Inc. will post ($1.52) EPS for the current fiscal year.
Several equities research analysts have recently commented on DNOW shares. Zacks Investment Research upgraded Now from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. KeyCorp restated a “hold” rating on shares of Now in a research note on Tuesday, September 27th. Finally, Cowen and Company started coverage on Now in a research note on Friday, September 16th. They set a “market perform” rating and a $22.00 price target for the company. Five analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $18.00.
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.
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