15,700 Shares in Northwest Pipe Company (NWPX) Acquired by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. bought a new position in shares of Northwest Pipe Company (NASDAQ:NWPX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,700 shares of the industrial products company’s stock, valued at approximately $256,000. Schwab Charles Investment Management Inc. owned 0.16% of Northwest Pipe at the end of the most recent reporting period.
Separately, Bank of New York Mellon Corp boosted its stake in Northwest Pipe by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 13,553 shares of the industrial products company’s stock worth $213,000 after buying an additional 56 shares during the period. 83.33% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research lowered shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th.
Northwest Pipe Company (NWPX) opened at $17.74 on Friday. Northwest Pipe Company has a 12 month low of $12.41 and a 12 month high of $21.11.
Northwest Pipe (NASDAQ:NWPX) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.09). Northwest Pipe had a negative net margin of 1.59% and a negative return on equity of 3.03%. The business had revenue of $38.80 million during the quarter, compared to analysts’ expectations of $40.00 million. During the same period in the previous year, the business posted $0.08 EPS. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. analysts expect that Northwest Pipe Company will post -0.9 earnings per share for the current fiscal year.
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About Northwest Pipe
Northwest Pipe Company is a manufacturer of engineered steel pipe water systems. The Company operates through two segments. The Water Transmission segment produces steel pipeline systems for use in drinking water infrastructure, and has approximately eight manufacturing facilities, located in Portland, Oregon; Denver, Colorado; Adelanto, California; Parkersburg, West Virginia; Saginaw, Texas; St.
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