Northwest Pipe (NWPX) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of Northwest Pipe (NASDAQ:NWPX) from a hold rating to a buy rating in a research note released on Friday morning.
Separately, Zacks Investment Research lowered Northwest Pipe from a hold rating to a strong sell rating in a research report on Thursday, August 9th.
NWPX stock opened at $20.84 on Friday. The company has a market cap of $202.88 million, a P/E ratio of -32.06 and a beta of 1.07. Northwest Pipe has a 12-month low of $16.60 and a 12-month high of $22.00.
In other news, Director Michelle Galanter Applebaum purchased 3,604 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were acquired at an average cost of $17.97 per share, with a total value of $64,763.88. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $359,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Foundry Partners LLC increased its position in Northwest Pipe by 2.5% in the second quarter. Foundry Partners LLC now owns 274,325 shares of the industrial products company’s stock worth $5,314,000 after buying an additional 6,600 shares during the period. Royce & Associates LP increased its position in Northwest Pipe by 14.9% in the second quarter. Royce & Associates LP now owns 1,415,455 shares of the industrial products company’s stock worth $27,417,000 after buying an additional 183,655 shares during the period. US Bancorp DE acquired a new stake in Northwest Pipe in the first quarter worth $167,000. First Wilshire Securities Management Inc. acquired a new stake in Northwest Pipe in the first quarter worth $3,878,000. Finally, Ancora Advisors LLC increased its position in Northwest Pipe by 13.5% in the first quarter. Ancora Advisors LLC now owns 85,619 shares of the industrial products company’s stock worth $1,481,000 after buying an additional 10,203 shares during the period. 86.72% of the stock is currently owned by hedge funds and other institutional investors.
Northwest Pipe Company Profile
Northwest Pipe Company manufactures engineered steel pipe water systems in North America. It produces large-diameter, high-pressure, and engineered welded steel pipeline systems for use in drinking water infrastructure; and pipes for piling and hydroelectric projects, wastewater treatment plants, and other applications, as well as for industrial plant piping systems and structural applications.
Recommended Story: What is a Leveraged Buyout (LBO)?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Northwest Pipe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northwest Pipe and related companies with MarketBeat.com's FREE daily email newsletter.