Qv Investors buys $22,429,820 stake in NOW Inc (DNOW)

NOW Inc (DNOW) : Qv Investors scooped up 200,322 additional shares in NOW Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 1,066,563 shares of NOW Inc which is valued at $22,429,820.NOW Inc makes up approximately 2.78% of Qv Investors’s portfolio.

Other Hedge Funds, Including , Assetmark Inc reduced its stake in DNOW by selling 173 shares or 30.84% in the most recent quarter. The Hedge Fund company now holds 388 shares of DNOW which is valued at $8,160. Parkside Financial Bank Trust sold out all of its stake in DNOW during the most recent quarter. The investment firm sold 18 shares of DNOW which is valued $351. Farmers Merchants Investments Inc sold out all of its stake in DNOW during the most recent quarter. The investment firm sold 100 shares of DNOW which is valued $1,975.

NOW Inc opened for trading at $20.57 and hit $20.93 on the upside on Monday, eventually ending the session at $20.63, with a gain of 0.78% or 0.16 points. The heightened volatility saw the trading volume jump to 8,60,291 shares. Company has a market cap of $2,217 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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