Wells Fargo & Company MN trimmed its position in shares of Northwest Pipe Company (NASDAQ:NWPX) by 29.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,295 shares of the industrial products company’s stock after selling 28,017 shares during the period. Wells Fargo & Company MN owned 0.69% of Northwest Pipe worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in Northwest Pipe by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 13,553 shares of the industrial products company’s stock valued at $213,000 after purchasing an additional 56 shares during the period. Schwab Charles Investment Management Inc. bought a new position in Northwest Pipe during the second quarter valued at $256,000. KBC Group NV grew its holdings in Northwest Pipe by 1.0% during the second quarter. KBC Group NV now owns 92,643 shares of the industrial products company’s stock valued at $1,506,000 after purchasing an additional 937 shares during the period. Kennedy Capital Management Inc. grew its holdings in Northwest Pipe by 30.2% during the second quarter. Kennedy Capital Management Inc. now owns 128,706 shares of the industrial products company’s stock valued at $2,093,000 after purchasing an additional 29,839 shares during the period. Finally, Heartland Advisors Inc. grew its holdings in Northwest Pipe by 9.2% during the second quarter. Heartland Advisors Inc. now owns 596,400 shares of the industrial products company’s stock valued at $9,697,000 after purchasing an additional 50,000 shares during the period. 83.37% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research raised Northwest Pipe from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Wednesday, August 9th.

Northwest Pipe (NASDAQ:NWPX) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). Northwest Pipe had a negative net margin of 1.59% and a negative return on equity of 3.02%. The business had revenue of $38.80 million for the quarter, compared to the consensus estimate of $40.00 million. During the same period in the previous year, the firm earned $0.08 EPS. The company’s revenue was down 5.5% on a year-over-year basis.

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Northwest Pipe Company 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.

Institutional Ownership by Quarter for Northwest Pipe (NASDAQ:NWPX)

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