Wedbush Securities Inc. Sells 26,445 Shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)

Wedbush Securities Inc. cut its stake in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Free Report) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 376,953 shares of the industrial products company's stock after selling 26,445 shares during the period. Wedbush Securities Inc. owned 4.72% of Perma-Pipe International worth $5,635,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Perma-Pipe International by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company's stock valued at $1,068,000 after purchasing an additional 7,273 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Perma-Pipe International in the 4th quarter worth about $1,093,000. Raymond James Financial Inc. acquired a new position in Perma-Pipe International during the 4th quarter valued at about $477,000. American Century Companies Inc. bought a new stake in Perma-Pipe International during the 4th quarter worth approximately $474,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Perma-Pipe International by 189.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 29,352 shares of the industrial products company's stock worth $439,000 after purchasing an additional 19,202 shares during the last quarter. Institutional investors own 28.43% of the company's stock.

Perma-Pipe International Stock Down 2.1 %

NASDAQ:PPIH traded down $0.24 during trading hours on Thursday, hitting $11.09. 26,155 shares of the company traded hands, compared to its average volume of 29,196. The company has a quick ratio of 1.64, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The company has a market cap of $88.49 million, a PE ratio of 5.63 and a beta of 0.11. Perma-Pipe International Holdings, Inc. has a one year low of $6.83 and a one year high of $17.58. The firm's 50-day simple moving average is $13.43 and its 200-day simple moving average is $14.14.

Perma-Pipe International Company Profile

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers insulated and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines.