Arlington Value Capital Lowers stake in NOW Inc (DNOW)

NOW Inc (DNOW) : Arlington Value Capital reduced its stake in NOW Inc by 2.35% during the most recent quarter end. The investment management company now holds a total of 4,619,318 shares of NOW Inc which is valued at $94,557,439 after selling 111,194 shares in NOW Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.NOW Inc makes up approximately 9.94% of Arlington Value Capital’s portfolio.

Other Hedge Funds, Including , Hutchin Hill Capital Lp added DNOW to its portfolio by purchasing 69,900 company shares during the most recent quarter which is valued at $1,430,853. NOW Inc makes up approx 0.09% of Hutchin Hill Capital Lp’s portfolio.Riverhead Capital Management reduced its stake in DNOW by selling 12,168 shares or 54.17% in the most recent quarter. The Hedge Fund company now holds 10,296 shares of DNOW which is valued at $210,759.Raymond James Associates boosted its stake in DNOW in the latest quarter, The investment management firm added 46,756 additional shares and now holds a total of 766,653 shares of NOW Inc which is valued at $15,693,387. NOW Inc makes up approx 0.05% of Raymond James Associates’s portfolio.Oppenheimerfunds reduced its stake in DNOW by selling 1,807 shares or 7.8% in the most recent quarter. The Hedge Fund company now holds 21,371 shares of DNOW which is valued at $437,464.

NOW Inc closed down -0.29 points or -1.41% at $20.35 with 8,49,500 shares getting traded on Thursday. Post opening the session at $20.57, the shares hit an intraday low of $20.17 and an intraday high of $20.84 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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