Hutchinson Capital Management CA Has $10,551,000 Stake in Now Inc. (DNOW)
Hutchinson Capital Management CA decreased its position in Now Inc. (NYSE:DNOW) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 581,627 shares of the company’s stock after selling 708 shares during the period. Now comprises 3.2% of Hutchinson Capital Management CA’s portfolio, making the stock its 13th largest position. Hutchinson Capital Management CA owned 0.54% of Now worth $10,551,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. State Street Corp increased its stake in Now by 2.4% in the first quarter. State Street Corp now owns 2,842,591 shares of the company’s stock worth $50,365,000 after buying an additional 66,585 shares during the period. Clarkston Capital Partners LLC increased its stake in Now by 15.9% in the second quarter. Clarkston Capital Partners LLC now owns 2,653,179 shares of the company’s stock worth $48,129,000 after buying an additional 364,450 shares during the period. Canada Pension Plan Investment Board bought a new stake in Now during the first quarter worth about $9,459,000. Franklin Resources Inc. bought a new stake in Now during the first quarter worth about $7,894,000. Finally, Marathon Asset Management LLP increased its stake in Now by 1.9% in the second quarter. Marathon Asset Management LLP now owns 261,944 shares of the company’s stock worth $4,751,000 after buying an additional 4,799 shares during the period. 96.87% of the stock is currently owned by institutional investors.
Now Inc. (NYSE:DNOW) traded up 3.31% on Wednesday, reaching $22.44. 287,546 shares of the company’s stock traded hands. The firm’s market capitalization is $2.41 billion. The stock has a 50-day moving average of $20.76 and a 200 day moving average of $19.06. Now Inc. has a 52 week low of $12.03 and a 52 week high of $22.81.
Now (NYSE:DNOW) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.06. Now had a negative net margin of 23.71% and a negative return on equity of 8.92%. The company had revenue of $501 million for the quarter, compared to analysts’ expectations of $456.96 million. During the same period last year, the company earned ($0.16) EPS. The firm’s revenue for the quarter was down 33.2% compared to the same quarter last year. On average, equities analysts expect that Now Inc. will post ($1.52) EPS for the current fiscal year.
A number of research analysts recently weighed in on the stock. Cowen and Company assumed coverage on shares of Now in a report on Friday, September 16th. They issued a “market perform” rating and a $22.00 price objective for the company. KeyCorp restated a “hold” rating on shares of Now in a report on Tuesday, September 27th. Finally, Zacks Investment Research upgraded shares of Now from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Five research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average price target of $18.00.
Now Company Profile
NOW Inc (NOW) is a global distributor to energy and industrial markets. The Company operates primarily under the DistributionNOW and Wilson Export brands. The Company operates through three segments: United States (U.S.), Canada and International. Through its network of over 300 locations across the world, it stocks and sells an offering of energy products, as well as a selection of products for industrial applications.
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