Royce & Associates LP decreased its stake in Northwest Pipe (NASDAQ:NWPX - Free Report) by 14.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 576,571 shares of the industrial products company's stock after selling 100,126 shares during the period. Royce & Associates LP owned 5.81% of Northwest Pipe worth $26,021,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of NWPX. Janney Montgomery Scott LLC lifted its position in shares of Northwest Pipe by 3.1% in the third quarter. Janney Montgomery Scott LLC now owns 18,147 shares of the industrial products company's stock valued at $819,000 after buying an additional 549 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Northwest Pipe by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,309 shares of the industrial products company's stock worth $462,000 after purchasing an additional 598 shares during the period. Covestor Ltd boosted its position in Northwest Pipe by 1,857.6% during the third quarter. Covestor Ltd now owns 646 shares of the industrial products company's stock worth $29,000 after purchasing an additional 613 shares during the period. Ellsworth Advisors LLC increased its holdings in shares of Northwest Pipe by 4.2% in the third quarter. Ellsworth Advisors LLC now owns 16,207 shares of the industrial products company's stock valued at $731,000 after purchasing an additional 647 shares during the last quarter. Finally, Foundry Partners LLC raised its position in shares of Northwest Pipe by 0.8% in the second quarter. Foundry Partners LLC now owns 175,945 shares of the industrial products company's stock valued at $5,977,000 after purchasing an additional 1,340 shares during the period. Institutional investors and hedge funds own 80.63% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on NWPX. Northland Securities downgraded shares of Northwest Pipe from an "outperform" rating to a "market perform" rating and set a $50.00 price objective for the company. in a research report on Friday, November 1st. Northland Capmk lowered Northwest Pipe from a "strong-buy" rating to a "hold" rating in a report on Friday, November 1st. Finally, StockNews.com cut Northwest Pipe from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Northwest Pipe presently has an average rating of "Hold" and a consensus target price of $45.00.
Check Out Our Latest Report on Northwest Pipe
Northwest Pipe Price Performance
NASDAQ:NWPX traded up $0.12 on Friday, hitting $53.25. The company had a trading volume of 34,197 shares, compared to its average volume of 42,504. The firm has a 50 day moving average of $45.66 and a two-hundred day moving average of $39.84. The stock has a market capitalization of $528.19 million, a price-to-earnings ratio of 18.11, a PEG ratio of 3.21 and a beta of 0.98. Northwest Pipe has a 52 week low of $25.81 and a 52 week high of $55.22. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17.
Insider Transactions at Northwest Pipe
In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total transaction of $44,220.00. Following the completion of the sale, the vice president now directly owns 9,725 shares in the company, valued at approximately $430,039.50. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Miles Brittain sold 4,500 shares of Northwest Pipe stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $41.90, for a total value of $188,550.00. Following the completion of the transaction, the executive vice president now directly owns 25,858 shares of the company's stock, valued at approximately $1,083,450.20. This trade represents a 14.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,500 shares of company stock worth $275,140. Insiders own 3.30% of the company's stock.
About Northwest Pipe
(
Free Report)
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.
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