Northwest Pipe (NASDAQ:NWPX) Sees Large Decrease in Short Interest

Northwest Pipe (NASDAQ:NWPX - Get Free Report) was the target of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 132,800 shares, a drop of 12.1% from the January 31st total of 151,000 shares. Based on an average daily volume of 65,400 shares, the short-interest ratio is presently 2.0 days. Currently, 1.4% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com lowered Northwest Pipe from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Sidoti raised shares of Northwest Pipe to a "hold" rating in a research note on Tuesday, February 25th. Finally, Northland Securities increased their price objective on shares of Northwest Pipe from $50.00 to $55.00 and gave the stock a "market perform" rating in a research report on Friday, January 3rd.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NWPX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Northwest Pipe by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 808,713 shares of the industrial products company's stock worth $39,029,000 after acquiring an additional 43,659 shares during the last quarter. Geode Capital Management LLC increased its holdings in Northwest Pipe by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 224,033 shares of the industrial products company's stock worth $10,814,000 after purchasing an additional 801 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Northwest Pipe by 35.9% in the fourth quarter. American Century Companies Inc. now owns 217,479 shares of the industrial products company's stock worth $10,496,000 after purchasing an additional 57,398 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Northwest Pipe by 73.4% in the fourth quarter. Millennium Management LLC now owns 116,792 shares of the industrial products company's stock valued at $5,636,000 after purchasing an additional 49,446 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Northwest Pipe by 2.1% during the fourth quarter. Northern Trust Corp now owns 102,317 shares of the industrial products company's stock valued at $4,938,000 after buying an additional 2,142 shares during the last quarter. 80.63% of the stock is owned by institutional investors.

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Northwest Pipe Stock Down 0.7 %

Shares of NASDAQ NWPX traded down $0.30 during midday trading on Monday, hitting $40.54. 47,338 shares of the stock traded hands, compared to its average volume of 81,256. The business has a 50 day moving average price of $48.15 and a two-hundred day moving average price of $48.02. Northwest Pipe has a one year low of $31.16 and a one year high of $57.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.27 and a current ratio of 3.20. The company has a market cap of $402.76 million, a PE ratio of 13.76, a P/E/G ratio of 2.85 and a beta of 1.09.

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.