Hillsdale Investment Management Inc. Acquires New Position in Perma-Pipe International Holdings, Inc. $PPIH

Hillsdale Investment Management Inc. bought a new position in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,200 shares of the industrial products company’s stock, valued at approximately $279,000. Hillsdale Investment Management Inc. owned about 0.15% of Perma-Pipe International as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PPIH. Raymond James Financial Inc. increased its position in shares of Perma-Pipe International by 1,960.8% during the first quarter. Raymond James Financial Inc. now owns 657,501 shares of the industrial products company’s stock valued at $8,173,000 after acquiring an additional 625,596 shares in the last quarter. American Century Companies Inc. boosted its stake in Perma-Pipe International by 81.3% during the 1st quarter. American Century Companies Inc. now owns 57,465 shares of the industrial products company’s stock valued at $714,000 after purchasing an additional 25,763 shares during the last quarter. Ellsworth Advisors LLC bought a new stake in shares of Perma-Pipe International in the 1st quarter worth $581,000. Truffle Hound Capital LLC bought a new stake in shares of Perma-Pipe International in the 2nd quarter worth $938,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Perma-Pipe International by 32.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,225 shares of the industrial products company’s stock worth $531,000 after purchasing an additional 5,696 shares during the last quarter. Institutional investors own 28.43% of the company’s stock.

Analyst Upgrades and Downgrades

PPIH has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Perma-Pipe International in a report on Monday, November 17th. Wall Street Zen cut shares of Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 20th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Perma-Pipe International Trading Up 4.4%

Shares of NASDAQ:PPIH opened at $24.03 on Monday. The stock’s 50-day simple moving average is $25.34 and its two-hundred day simple moving average is $23.34. The stock has a market capitalization of $194.50 million, a price-to-earnings ratio of 19.38 and a beta of 0.50. Perma-Pipe International Holdings, Inc. has a 52-week low of $8.81 and a 52-week high of $33.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.64 and a current ratio of 1.88.

Perma-Pipe International (NASDAQ:PPIH) last released its quarterly earnings results on Monday, September 15th. The industrial products company reported $0.10 EPS for the quarter. The firm had revenue of $47.90 million during the quarter. Perma-Pipe International had a net margin of 5.55% and a return on equity of 13.92%.

Perma-Pipe International 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.