NWPX Infrastructure, Inc. (NASDAQ:NWPX) Sees Large Drop in Short Interest

NWPX Infrastructure, Inc. (NASDAQ:NWPX) saw a large drop in short interest in December. As of December 31st, there was short interest totaling 95,672 shares, a drop of 24.9% from the December 15th total of 127,465 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average trading volume of 60,306 shares, the days-to-cover ratio is presently 1.6 days. Based on an average trading volume of 60,306 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.0% of the company’s stock are short sold.

Insider Buying and Selling at NWPX Infrastructure

In other NWPX Infrastructure news, CFO Aaron Wilkins sold 5,009 shares of NWPX Infrastructure stock in a transaction on Monday, December 8th. The stock was sold at an average price of $59.90, for a total transaction of $300,039.10. Following the completion of the transaction, the chief financial officer owned 19,753 shares in the company, valued at approximately $1,183,204.70. The trade was a 20.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott J. Montross sold 8,210 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $57.27, for a total value of $470,186.70. Following the completion of the sale, the chief executive officer directly owned 68,781 shares in the company, valued at approximately $3,939,087.87. This represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 28,001 shares of company stock valued at $1,631,008. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On NWPX Infrastructure

A number of institutional investors have recently bought and sold shares of the stock. CSM Advisors LLC purchased a new position in NWPX Infrastructure during the second quarter valued at $6,075,000. Allspring Global Investments Holdings LLC purchased a new position in shares of NWPX Infrastructure during the 2nd quarter valued at about $2,092,000. LSV Asset Management grew its stake in shares of NWPX Infrastructure by 166.9% during the 3rd quarter. LSV Asset Management now owns 69,400 shares of the industrial products company’s stock valued at $3,673,000 after acquiring an additional 43,398 shares during the period. Legal & General Group Plc raised its stake in NWPX Infrastructure by 14.4% during the 2nd quarter. Legal & General Group Plc now owns 323,819 shares of the industrial products company’s stock worth $13,280,000 after acquiring an additional 40,751 shares during the period. Finally, Royce & Associates LP lifted its holdings in NWPX Infrastructure by 7.1% during the third quarter. Royce & Associates LP now owns 537,188 shares of the industrial products company’s stock valued at $28,433,000 after purchasing an additional 35,768 shares in the last quarter. 80.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on NWPX shares. Wall Street Zen raised shares of NWPX Infrastructure from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. DA Davidson lifted their target price on NWPX Infrastructure from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Northland Capmk raised NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NWPX Infrastructure in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, NWPX Infrastructure has an average rating of “Moderate Buy” and a consensus target price of $70.00.

NWPX Infrastructure Stock Performance

NWPX stock traded down $0.16 during trading on Friday, reaching $69.11. The stock had a trading volume of 78,305 shares, compared to its average volume of 60,020. The firm has a market cap of $664.15 million, a PE ratio of 18.78, a PEG ratio of 1.65 and a beta of 0.94. The company has a current ratio of 3.60, a quick ratio of 2.62 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average is $61.45 and its two-hundred day moving average is $53.85. NWPX Infrastructure has a 52 week low of $36.97 and a 52 week high of $70.30.

NWPX Infrastructure (NASDAQ:NWPX) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.02 by $0.36. NWPX Infrastructure had a net margin of 7.04% and a return on equity of 9.65%. The firm had revenue of $151.07 million during the quarter, compared to analyst estimates of $132.01 million. As a group, equities analysts anticipate that NWPX Infrastructure will post 3.32 earnings per share for the current year.

About NWPX Infrastructure

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications.