Nationwide Fund Advisors Sells 3,309 Shares of Northwest Pipe Company (NWPX)
Nationwide Fund Advisors cut its holdings in Northwest Pipe Company (NASDAQ:NWPX) by 11.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,293 shares of the industrial products company’s stock after selling 3,309 shares during the period. Nationwide Fund Advisors owned about 0.27% of Northwest Pipe worth $500,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in shares of Northwest Pipe by 26,137.1% in the second quarter. The Manufacturers Life Insurance Company now owns 9,183 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 9,148 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Northwest Pipe in the second quarter valued at approximately $166,000. Royal Bank of Canada grew its stake in shares of Northwest Pipe by 89.4% in the second quarter. Royal Bank of Canada now owns 12,500 shares of the industrial products company’s stock valued at $204,000 after buying an additional 5,900 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new position in shares of Northwest Pipe in the second quarter valued at $256,000. Finally, California State Teachers Retirement System bought a new position in shares of Northwest Pipe in the second quarter valued at $275,000. Institutional investors own 86.33% of the company’s stock.
Northwest Pipe Company (NWPX) opened at $19.14 on Tuesday. Northwest Pipe Company has a 52 week low of $12.41 and a 52 week high of $21.11. The firm has a market cap of $183.84, a price-to-earnings ratio of -83.21 and a beta of 1.25.
Northwest Pipe (NASDAQ:NWPX) last released its earnings results on Tuesday, October 31st. The industrial products company reported ($0.16) earnings per share for the quarter, missing the 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 firm had revenue of $38.80 million during the quarter, compared to the consensus estimate of $40.00 million. During the same period in the prior year, the business posted $0.08 earnings per share. Northwest Pipe’s quarterly revenue was down 5.5% compared to the same quarter last year. equities analysts anticipate that Northwest Pipe Company will post -0.9 EPS for the current fiscal year.
Separately, Zacks Investment Research cut shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th.
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Northwest Pipe Profile
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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