Assenagon Asset Management S.A. Decreases Stock Holdings in Northwest Pipe (NASDAQ:NWPX)

Assenagon Asset Management S.A. lowered its stake in Northwest Pipe (NASDAQ:NWPX) by 7.0% during the 4th quarter, HoldingsChannel reports. The firm owned 49,366 shares of the industrial products company’s stock after selling 3,718 shares during the period. Assenagon Asset Management S.A.’s holdings in Northwest Pipe were worth $2,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Northwest Pipe by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 223,232 shares of the industrial products company’s stock valued at $10,076,000 after buying an additional 2,657 shares during the period. American Century Companies Inc. lifted its holdings in Northwest Pipe by 26.7% in the second quarter. American Century Companies Inc. now owns 125,821 shares of the industrial products company’s stock valued at $4,274,000 after acquiring an additional 26,532 shares during the period. JPMorgan Chase & Co. lifted its holdings in Northwest Pipe by 34.2% in the third quarter. JPMorgan Chase & Co. now owns 56,371 shares of the industrial products company’s stock valued at $2,544,000 after acquiring an additional 14,374 shares during the period. Victory Capital Management Inc. boosted its position in Northwest Pipe by 19.4% in the third quarter. Victory Capital Management Inc. now owns 52,686 shares of the industrial products company’s stock worth $2,378,000 after purchasing an additional 8,576 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Northwest Pipe by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 43,652 shares of the industrial products company’s stock valued at $1,970,000 after purchasing an additional 2,144 shares during the period. Institutional investors own 80.63% of the company’s stock.

Northwest Pipe Stock Down 2.0 %

NASDAQ NWPX opened at $49.88 on Thursday. Northwest Pipe has a 52 week low of $28.35 and a 52 week high of $57.76. 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 company has a market capitalization of $494.81 million, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 2.86 and a beta of 1.05. The stock’s 50-day moving average price is $51.55 and its 200-day moving average price is $45.67.

Northwest Pipe (NASDAQ:NWPX) last released its earnings results on Wednesday, October 30th. The industrial products company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.17. The company had revenue of $130.20 million for the quarter, compared to analysts’ expectations of $126.80 million. Northwest Pipe had a net margin of 6.12% and a return on equity of 8.47%. During the same quarter last year, the business earned $0.58 EPS. On average, equities research analysts predict that Northwest Pipe will post 3.32 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NWPX shares. Northland Securities increased their price objective on shares of Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. StockNews.com cut shares of Northwest Pipe from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Northland Capmk cut shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Northwest Pipe currently has a consensus rating of “Hold” and a consensus target price of $47.50.

Northwest Pipe 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.