Advisors Asset Management Inc. Cuts Stake in Northwest Pipe (NASDAQ:NWPX)

Advisors Asset Management Inc. lessened its position in Northwest Pipe (NASDAQ:NWPX) by 10.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 40,435 shares of the industrial products company’s stock after selling 4,958 shares during the period. Advisors Asset Management Inc. owned approximately 0.41% of Northwest Pipe worth $1,825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NWPX. Covestor Ltd lifted its position in Northwest Pipe by 1,857.6% in the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 613 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Northwest Pipe in the 1st quarter valued at approximately $95,000. SG Americas Securities LLC purchased a new stake in shares of Northwest Pipe in the third quarter valued at approximately $165,000. Semanteon Capital Management LP acquired a new position in Northwest Pipe during the third quarter worth $230,000. Finally, Summit Global Investments purchased a new position in Northwest Pipe in the third quarter worth $262,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NWPX shares. StockNews.com cut shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Monday. Northland Securities lowered shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 target price on the stock. in a research report on Friday, November 1st. Finally, Northland Capmk downgraded shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $45.00.

Northwest Pipe Trading Up 2.0 %

NASDAQ:NWPX opened at $56.29 on Monday. Northwest Pipe has a 52-week low of $25.81 and a 52-week high of $56.37. The company has a quick ratio of 2.27, a current ratio of 3.20 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $47.00 and a 200-day simple moving average of $40.68. The company has a market capitalization of $558.40 million, a PE ratio of 19.15, a price-to-earnings-growth ratio of 3.33 and a beta of 0.98.

Insiders Place Their Bets

In other Northwest Pipe news, EVP Miles Brittain sold 4,500 shares of the 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 sale, the executive vice president now owns 25,858 shares in the company, valued at approximately $1,083,450.20. This represents a 14.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Megan A. Kendrick sold 1,000 shares of the business’s 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 transaction, the vice president now directly owns 9,725 shares of the company’s stock, valued at approximately $430,039.50. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,800 shares of company stock worth $291,070. Insiders own 3.30% of the company’s stock.

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.