Empowered Funds LLC Buys 27,429 Shares of DNOW Inc. (NYSE:DNOW)

Empowered Funds LLC raised its holdings in DNOW Inc. (NYSE:DNOW) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 563,089 shares of the oil and gas company’s stock after purchasing an additional 27,429 shares during the period. Empowered Funds LLC owned 0.53% of DNOW worth $7,326,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. KBC Group NV grew its position in DNOW by 45.5% in the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,190 shares in the last quarter. nVerses Capital LLC bought a new position in DNOW in the third quarter worth about $78,000. GW Henssler & Associates Ltd. purchased a new position in shares of DNOW in the 3rd quarter valued at approximately $182,000. Coldstream Capital Management Inc. lifted its position in DNOW by 10.1% during the third quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock valued at $182,000 after buying an additional 1,291 shares during the period. Finally, Prospera Financial Services Inc bought a new stake in DNOW during the third quarter worth about $187,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Stock Down 0.2 %

DNOW stock opened at $14.04 on Tuesday. DNOW Inc. has a twelve month low of $9.44 and a twelve month high of $15.65. The business has a 50 day moving average of $13.94 and a 200 day moving average of $13.42. The firm has a market cap of $1.49 billion, a PE ratio of 7.51 and a beta of 1.53.

DNOW announced that its board has approved a share repurchase program on Friday, January 24th that authorizes the company to repurchase $160.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 10% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at DNOW

In related news, Director Paul M. Coppinger sold 26,186 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total transaction of $401,955.10. Following the sale, the director now directly owns 56,568 shares of the company’s stock, valued at $868,318.80. This trade represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is currently owned by insiders.

About DNOW

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.