Raymond James Financial Inc. Purchases Shares of 6,675 Northwest Pipe (NASDAQ:NWPX)

Raymond James Financial Inc. purchased a new position in Northwest Pipe (NASDAQ:NWPX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,675 shares of the industrial products company's stock, valued at approximately $322,000. Raymond James Financial Inc. owned about 0.07% of Northwest Pipe as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in Northwest Pipe in the third quarter valued at about $944,000. Illumine Investment Management LLC bought a new position in shares of Northwest Pipe during the 4th quarter worth $833,000. Allworth Financial LP increased its holdings in Northwest Pipe by 64,926.1% in the 4th quarter. Allworth Financial LP now owns 14,956 shares of the industrial products company's stock worth $746,000 after acquiring an additional 14,933 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Northwest Pipe by 34.2% during the third quarter. JPMorgan Chase & Co. now owns 56,371 shares of the industrial products company's stock worth $2,544,000 after acquiring an additional 14,374 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Northwest Pipe by 272.8% in the third quarter. Barclays PLC now owns 13,001 shares of the industrial products company's stock worth $586,000 after acquiring an additional 9,514 shares during the period. Institutional investors own 80.63% of the company's stock.

Analyst Upgrades and Downgrades

NWPX has been the subject of a number of recent analyst reports. StockNews.com lowered Northwest Pipe from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Northland Securities increased their price objective on Northwest Pipe from $50.00 to $55.00 and gave the stock a "market perform" rating in a research report on Friday, January 3rd. Finally, Sidoti upgraded Northwest Pipe to a "hold" rating in a research report on Tuesday, February 25th.

Remove Ads

Insiders Place Their Bets

In related news, CFO Aaron Wilkins sold 1,000 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $44.00, for a total value of $44,000.00. Following the completion of the sale, the chief financial officer now owns 23,467 shares in the company, valued at $1,032,548. The trade was a 4.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.30% of the company's stock.

Northwest Pipe Price Performance

Shares of Northwest Pipe stock traded up $0.22 on Tuesday, hitting $42.34. 4,662 shares of the company traded hands, compared to its average volume of 53,569. Northwest Pipe has a 12-month low of $31.16 and a 12-month high of $57.76. The firm's 50-day simple moving average is $44.37 and its 200 day simple moving average is $47.69. The company has a market cap of $420.60 million, a P/E ratio of 14.30, a P/E/G ratio of 2.85 and a beta of 0.94. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17.

About Northwest Pipe

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.