Northwest Pipe (NASDAQ:NWPX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
According to Zacks, “Northwest Pipe Company manufactures welded steel pipe in two business segments. In its Water Transmission business, they are a supplier of large diameter, high-pressure steel pipe used primarily for water transmission. In its Tubular Products business, they manufacture smaller diameter, electric resistance welded steel pipe for use in a wide range of construction, agricultural, energy and industrial applications. “
Shares of Northwest Pipe (NASDAQ NWPX) opened at $19.06 on Thursday. The stock has a market cap of $179.13, a price-to-earnings ratio of -82.87, a price-to-earnings-growth ratio of 3.33 and a beta of 1.20. Northwest Pipe has a 12-month low of $12.41 and a 12-month high of $21.11.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royce & Associates LP grew its position in Northwest Pipe by 4.9% in the 3rd quarter. Royce & Associates LP now owns 1,253,900 shares of the industrial products company’s stock worth $23,849,000 after purchasing an additional 59,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Northwest Pipe by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 806,473 shares of the industrial products company’s stock valued at $13,114,000 after acquiring an additional 15,189 shares in the last quarter. BlackRock Inc. boosted its position in shares of Northwest Pipe by 1.1% during the 4th quarter. BlackRock Inc. now owns 640,986 shares of the industrial products company’s stock valued at $12,269,000 after acquiring an additional 7,221 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Northwest Pipe by 0.7% during the 3rd quarter. D.A. Davidson & CO. now owns 568,283 shares of the industrial products company’s stock valued at $10,808,000 after acquiring an additional 4,186 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Northwest Pipe by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 404,900 shares of the industrial products company’s stock valued at $6,583,000 after acquiring an additional 7,769 shares in the last quarter. Institutional investors own 85.76% of the company’s stock.
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Northwest Pipe Company Profile
Northwest Pipe Company is a manufacturer of engineered steel pipe water systems. The Company 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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