Northwest Pipe (NASDAQ:NWPX) Lowered to Market Perform Rating by Northland Securities

Northwest Pipe (NASDAQ:NWPX) was downgraded by equities researchers at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday, Briefing.com reports.

Separately, StockNews.com lowered Northwest Pipe from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Northwest Pipe Price Performance

Shares of NASDAQ NWPX opened at $44.89 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.19 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is $43.72 and its 200-day moving average price is $38.25. The firm has a market capitalization of $445.31 million, a P/E ratio of 15.27, a P/E/G ratio of 3.03 and a beta of 0.98. Northwest Pipe has a 1-year low of $25.67 and a 1-year high of $46.95.

Northwest Pipe (NASDAQ:NWPX) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.19. Northwest Pipe had a return on equity of 8.57% and a net margin of 6.12%. The business had revenue of $129.51 million for the quarter, compared to the consensus estimate of $119.76 million. Equities research analysts anticipate that Northwest Pipe will post 2.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total transaction of $44,220.00. Following the completion of the transaction, the vice president now owns 9,725 shares in the company, valued at approximately $430,039.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Megan A. Kendrick sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total value of $44,220.00. Following the completion of the sale, the vice president now directly owns 9,725 shares of the company’s stock, valued at approximately $430,039.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Miles Brittain sold 4,500 shares of Northwest Pipe stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $41.90, for a total transaction of $188,550.00. Following the transaction, the executive vice president now directly owns 25,858 shares in the company, valued at $1,083,450.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,500 shares of company stock worth $275,140 in the last quarter. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Northwest Pipe

A number of institutional investors have recently added to or reduced their stakes in the company. Summit Global Investments purchased a new position in shares of Northwest Pipe in the 3rd quarter worth approximately $262,000. Janney Montgomery Scott LLC lifted its holdings in Northwest Pipe by 3.1% during the third quarter. Janney Montgomery Scott LLC now owns 18,147 shares of the industrial products company’s stock worth $819,000 after acquiring an additional 549 shares during the period. Semanteon Capital Management LP purchased a new position in Northwest Pipe in the third quarter worth $230,000. Assenagon Asset Management S.A. grew its stake in Northwest Pipe by 7.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 53,084 shares of the industrial products company’s stock valued at $2,396,000 after purchasing an additional 3,718 shares during the period. Finally, Ellsworth Advisors LLC grew its position in Northwest Pipe by 4.2% during the third quarter. Ellsworth Advisors LLC now owns 16,207 shares of the industrial products company’s stock valued at $731,000 after buying an additional 647 shares during the period. 80.63% of the stock is owned by institutional investors.

Northwest Pipe Company Profile

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.