Meeder Asset Management Inc. bought a new position in shares of Northwest Pipe (NASDAQ:NWPX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,332 shares of the industrial products company’s stock, valued at approximately $45,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in Northwest Pipe by 1.6% in the third quarter. State Street Corp now owns 246,130 shares of the industrial products company’s stock valued at $6,929,000 after acquiring an additional 3,938 shares in the last quarter. EAM Investors LLC raised its holdings in Northwest Pipe by 5.3% in the fourth quarter. EAM Investors LLC now owns 67,552 shares of the industrial products company’s stock valued at $2,250,000 after acquiring an additional 3,414 shares in the last quarter. California Public Employees Retirement System raised its holdings in Northwest Pipe by 6.0% in the third quarter. California Public Employees Retirement System now owns 21,300 shares of the industrial products company’s stock valued at $600,000 after acquiring an additional 1,200 shares in the last quarter. Stifel Financial Corp raised its holdings in Northwest Pipe by 36.1% in the third quarter. Stifel Financial Corp now owns 16,499 shares of the industrial products company’s stock valued at $463,000 after acquiring an additional 4,378 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Northwest Pipe in the third quarter valued at $412,000. 82.14% of the stock is currently owned by institutional investors and hedge funds.
NWPX has been the topic of several recent analyst reports. ValuEngine cut shares of Northwest Pipe from a “sell” rating to a “strong sell” rating in a report on Tuesday, February 4th. Zacks Investment Research cut shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Saturday, March 7th. BidaskClub cut shares of Northwest Pipe from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Northland Securities reaffirmed a “buy” rating and issued a $45.00 price target on shares of Northwest Pipe in a report on Friday, December 6th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Northwest Pipe in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $42.00.
Northwest Pipe (NASDAQ:NWPX) last released its earnings results on Monday, March 2nd. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.23. Northwest Pipe had a net margin of 9.99% and a return on equity of 11.32%. The firm had revenue of $72.25 million during the quarter, compared to analyst estimates of $72.00 million. As a group, equities analysts forecast that Northwest Pipe will post 2.82 earnings per share for the current fiscal year.
In other Northwest Pipe news, Director Michael C. Franson bought 1,000 shares of the stock in a transaction on Wednesday, March 11th. The stock was purchased at an average price of $25.32 per share, for a total transaction of $25,320.00. Following the completion of the purchase, the director now directly owns 14,648 shares in the company, valued at $370,887.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by insiders.
Northwest Pipe Company Profile
Northwest Pipe Company manufactures engineered welded 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, water and wastewater treatment plants, and other applications, as well as for industrial plant piping systems and structural applications.
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