Baillie Gifford & Co. Acquires 326,341 Shares of NOW Inc (DNOW)

Baillie Gifford & Co. grew its holdings in shares of NOW Inc (NYSE:DNOW) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,669,900 shares of the oil and gas company’s stock after purchasing an additional 326,341 shares during the quarter. Baillie Gifford & Co. owned approximately 13.53% of NOW worth $242,787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DNOW. Icon Wealth Partners LLC acquired a new stake in NOW during the 2nd quarter worth $105,000. NumerixS Investment Technologies Inc acquired a new position in shares of NOW during the 2nd quarter valued at about $120,000. Neuburgh Advisers LLC boosted its position in shares of NOW by 51.7% during the 2nd quarter. Neuburgh Advisers LLC now owns 10,560 shares of the oil and gas company’s stock valued at $141,000 after acquiring an additional 3,600 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of NOW during the 2nd quarter valued at about $146,000. Finally, FDx Advisors Inc. acquired a new position in shares of NOW during the 3rd quarter valued at about $189,000.

NYSE DNOW opened at $14.13 on Friday. NOW Inc has a 12 month low of $9.12 and a 12 month high of $18.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.72. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -52.52 and a beta of 1.28.

NOW (NYSE:DNOW) last posted its earnings results on Thursday, November 1st. The oil and gas company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.04. NOW had a net margin of 1.09% and a return on equity of 2.43%. The company had revenue of $822.00 million for the quarter, compared to analysts’ expectations of $805.80 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. NOW’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, analysts predict that NOW Inc will post 0.33 EPS for the current fiscal year.

Several research analysts have recently weighed in on DNOW shares. Stifel Nicolaus boosted their price target on shares of NOW from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. ValuEngine raised shares of NOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Zacks Investment Research raised shares of NOW from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, October 9th. Cowen started coverage on shares of NOW in a research report on Saturday, October 13th. They set a “hold” rating and a $17.00 price target on the stock. Finally, Susquehanna Bancshares set a $16.00 price target on shares of NOW and gave the company a “hold” rating in a research report on Friday, August 3rd. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. NOW has an average rating of “Hold” and an average price target of $15.44.

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About NOW

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.

See Also: Hedge Funds

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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