DNOW Stock Lands New $26 Million Stake Despite 18% Drop This Past Year

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Jonathan Ponciano, The Motley Fool

Wed, March 4, 2026 astatine 8:43 AM CST 4 min read

On February 17, 2026, Harvey Partners disclosed a caller presumption successful DNOW (NYSE:DNOW), acquiring 1,939,399 shares worthy $25.70 million.

According to a recent SEC filing dated February 17, 2026, Harvey Partners established a caller presumption successful DNOW by acquiring 1,939,399 shares. The quarter-end worth of the shares was $25.70 million.

This is simply a caller position; the DNOW involvement represents 2.3% of Harvey Partners’ reportable 13F assets nether absorption arsenic of December 31, 2025.
Top holdings aft the filing:
- NYSE: NPO: $53.4 cardinal (4.8% of AUM)
- NASDAQ: GLDD: $48.6 cardinal (4.4% of AUM)
- NASDAQ: MKSI: $46.2 cardinal (4.1% of AUM)
- NASDAQ: ADEA: $45.1 cardinal (4.1% of AUM)
- NASDAQ: LASR: $45.1 cardinal (4.1% of AUM)
As of Tuesday, DNOW shares were priced astatine $12.33, down 18% implicit the past twelvemonth and good underperforming the S&P 500’s astir 16% summation successful the aforesaid period.

Metric

Value

Price (as of Tuesday)	$12.33
Market capitalization	$2 billion
Revenue (TTM)	$2.82 billion
Net income (TTM)	($89 million)

DNOW distributes a wide scope of downstream vigor and concern products, including pipes, valves, fittings, information supplies, instrumentation, and archetypal instrumentality nether the DistributionNOW and DNOW brands.
The institution generates gross done the merchantability of consumable maintenance, repair, and operating supplies, arsenic good arsenic proviso concatenation and materials absorption solutions for vigor and concern sectors.
It serves upstream, midstream, and downstream vigor companies, including drilling contractors, lipid and state producers, refineries, petrochemical firms, utilities, and concern manufacturers.

DNOW Inc. is simply a starring distributor of vigor and concern products, operating an extended web of locations crossed the United States, Canada, and planetary markets. The institution leverages its proviso concatenation expertise and wide merchandise portfolio to present indispensable solutions to vigor infrastructure and concern clients. DNOW's scale, divers lawsuit base, and integrated work offerings presumption it arsenic a cardinal supplier successful the lipid & state instrumentality and services industry.

Harvey Partners is leaning into a cyclical distributor amid a transformative merger and a messy, but perchance precocious upside, net reset.

In November, DNOW closed its acquisition of MRC Global, a woody absorption says expands standard and semipermanent maturation opportunities. For 2025, gross reached $2.82 billion, with adjusted EBITDA of $209 million, oregon 7.4% of sales. Adjusted nett income came successful astatine $104 million, adjacent arsenic reported results were dragged down by transaction and inventory step-up charges.

Shares are present down 18% implicit the past year, lagging the broader marketplace aft a astir 20% post-earnings drop. But that underperformance apt reflects integration hazard and near-term headaches alternatively than a illness successful underlying demand. Within a portfolio that besides holds industrial, semiconductor, and dredging names, this 2% presumption fits a signifier of buying operationally levered businesses astatine transitional moments. For semipermanent investors, the question is whether merger synergies and vigor infrastructure spending tin assistance margins backmost toward humanities highs. If integration delivers, today’s skepticism could look misplaced.

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