Royce & Associates LP Buys New Shares in Perma-Pipe International Holdings, Inc. $PPIH

Royce & Associates LP purchased a new position in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 91,598 shares of the industrial products company’s stock, valued at approximately $2,146,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC increased its position in shares of Perma-Pipe International by 8.8% during the 1st quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company’s stock valued at $250,000 after purchasing an additional 1,626 shares during the last quarter. Jane Street Group LLC grew its position in Perma-Pipe International by 55.2% during the first quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock valued at $230,000 after acquiring an additional 6,583 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Perma-Pipe International by 32.5% during 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 acquiring an additional 5,696 shares in the last quarter. Truffle Hound Capital LLC purchased a new position in shares of Perma-Pipe International during the second quarter worth approximately $938,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Perma-Pipe International in the 2nd quarter worth approximately $279,000. 28.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a report on Saturday, December 13th. Weiss Ratings raised Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Finally, Loop Capital set a $36.00 target price on Perma-Pipe International in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $36.00.

Perma-Pipe International Trading Down 1.7%

NASDAQ:PPIH opened at $31.00 on Friday. The firm has a market capitalization of $250.79 million, a P/E ratio of 18.24 and a beta of 0.49. The company has a quick ratio of 1.53, a current ratio of 1.76 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $31.54 and a 200 day moving average of $28.82. Perma-Pipe International Holdings, Inc. has a 52 week low of $8.81 and a 52 week high of $36.48.

Perma-Pipe International (NASDAQ:PPIH) last announced its quarterly earnings results on Friday, December 12th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter. The business had revenue of $61.15 million for the quarter. Perma-Pipe International had a net margin of 6.91% and a return on equity of 18.12%.

Perma-Pipe International Company Profile

Perma-Pipe International Holdings Ltd. is a publicly traded company on the NASDAQ under the symbol PPIH that specializes in the design, manufacture and installation of prefabricated piping systems. Its core business revolves around factory-assembled thermal insulation and corrosion protection solutions, including pre-insulated pipe, heat tracing, field-applied jackets and specialty spool pieces. These engineered systems are custom-built to industry specifications and are used to maintain temperatures, control heat loss and extend the life of critical piping infrastructure.

The company’s products and services serve a diverse range of end markets, with primary focus on oil and gas production, petrochemical processing, power generation, district energy, and industrial facilities.