Asset Management Advisors Lowers stake in NOW Inc (DNOW)

NOW Inc (DNOW) : Asset Management Advisors reduced its stake in NOW Inc by 18.76% during the most recent quarter end. The investment management company now holds a total of 170,000 shares of NOW Inc which is valued at $3,479,900 after selling 39,250 shares in NOW Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.NOW Inc makes up approximately 3.22% of Asset Management Advisors’s portfolio.

Other Hedge Funds, Including , Laurel Wealth Advisors reduced its stake in DNOW by selling 1,284 shares or 10.43% in the most recent quarter. The Hedge Fund company now holds 11,024 shares of DNOW which is valued at $225,661. NOW Inc makes up approx 0.11% of Laurel Wealth Advisors’s portfolio. Princeton Alpha Management Lp sold out all of its stake in DNOW during the most recent quarter. The investment firm sold 17,137 shares of DNOW which is valued $350,109.State Treasurer State Of Michigan boosted its stake in DNOW in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 43,127 shares of NOW Inc which is valued at $840,114. NOW Inc makes up approx 0.01% of State Treasurer State Of Michigan’s portfolio.Strs Ohio boosted its stake in DNOW in the latest quarter, The investment management firm added 62,969 additional shares and now holds a total of 64,600 shares of NOW Inc which is valued at $1,211,896. NOW Inc makes up approx 0.01% of Strs Ohio’s portfolio.New York State Teachers Retirement System boosted its stake in DNOW in the latest quarter, The investment management firm added 10,200 additional shares and now holds a total of 193,962 shares of NOW Inc which is valued at $3,665,882. NOW Inc makes up approx 0.01% of New York State Teachers Retirement System’s portfolio.

NOW Inc opened for trading at $21.06 and hit $21.52 on the upside on Tuesday, eventually ending the session at $21.41, with a gain of 1.81% or 0.38 points. The heightened volatility saw the trading volume jump to 8,58,208 shares. Company has a market cap of $2,301 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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