Cacti Asset Management Lowers stake in NOW Inc (DNOW)

NOW Inc (DNOW) : Cacti Asset Management reduced its stake in NOW Inc by 4.58% during the most recent quarter end. The investment management company now holds a total of 6,500 shares of NOW Inc which is valued at $115,050 after selling 312 shares in NOW Inc according to a report filed by the company on Apr 1, 2016 with the SEC.NOW Inc makes up approximately 0.01% of Cacti Asset Management’s portfolio.

On the company’s financial health, NOW Inc reported $-0.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 23, 2016. Analyst had a consensus of $-0.23. The company had revenue of $644.00 million for the quarter, compared to analysts expectations of $681.85 million. The company’s revenue was down -36.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.14 EPS.

NOW Inc opened for trading at $16.65 and hit $17 on the upside on Monday, eventually ending the session at $16.73, with a gain of 1.15% or 0.19 points. The heightened volatility saw the trading volume jump to 9,42,872 shares. Company has a market cap of $1,795 M.

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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