Hutchinson Capital Managementca Lowers stake in NOW Inc (DNOW)

NOW Inc (DNOW) : Hutchinson Capital Managementca reduced its stake in NOW Inc by 0.12% during the most recent quarter end. The investment management company now holds a total of 581,627 shares of NOW Inc which is valued at $11,330,094 after selling 708 shares in NOW Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.NOW Inc makes up approximately 3.36% of Hutchinson Capital Managementca’s portfolio.

Other Hedge Funds, Including , Candriam Luxembourg S.c.a. boosted its stake in DNOW in the latest quarter, The investment management firm added 2,819 additional shares and now holds a total of 14,571 shares of NOW Inc which is valued at $273,352. NOW Inc makes up approx 0.01% of Candriam Luxembourg S.c.a.’s portfolio.

NOW Inc opened for trading at $19.61 and hit $20.13 on the upside on Thursday, eventually ending the session at $19.93, with a gain of 2.31% or 0.45 points. The heightened volatility saw the trading volume jump to 18,87,732 shares. Company has a market cap of $2,141 M.

On the company’s financial health, NOW Inc reported $-0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.46. The company had revenue of $501.00 million for the quarter, compared to analysts expectations of $458.37 million. The company’s revenue was down -33.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.16 EPS.

NOW Inc. (NOW) is a global distributor to energy and industrial markets. The Company operates through three segments: United States (U.S.) Canada and International. The Company operates primarily under the DistributionNOW and Wilson Export brands. Its energy product offering is needed throughout all sectors of the oil and gas industry from upstream drilling and completion exploration and production (E&P) midstream infrastructure development to downstream petroleum refining as well as in other industries. It also provides supply chain management to drilling contractors E&P operators midstream operators downstream energy and industrial manufacturing companies around the world. The Company’s global product offering includes consumable maintenance repair and operating (MRO) supplies pipe valves fittings flanges electrical artificial lift solutions mill tools safety supplies and spare parts to support customers’ operations.

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