Ritholtz Wealth Management Takes $173,000 Position in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)

Ritholtz Wealth Management acquired a new stake in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 11,588 shares of the industrial products company’s stock, valued at approximately $173,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp purchased a new position in Perma-Pipe International during the third quarter valued at approximately $140,000. Essex Investment Management Co. LLC purchased a new position in shares of Perma-Pipe International during the 3rd quarter valued at $190,000. Geode Capital Management LLC boosted its holdings in Perma-Pipe International by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company’s stock worth $1,068,000 after buying an additional 7,273 shares during the period. Renaissance Technologies LLC increased its stake in Perma-Pipe International by 1.8% in the 2nd quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company’s stock worth $1,543,000 after buying an additional 3,119 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Perma-Pipe International by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 447,168 shares of the industrial products company’s stock valued at $3,980,000 after acquiring an additional 4,309 shares during the period. 28.43% of the stock is owned by hedge funds and other institutional investors.

Perma-Pipe International Price Performance

Shares of Perma-Pipe International stock opened at $16.57 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. Perma-Pipe International Holdings, Inc. has a 52 week low of $6.83 and a 52 week high of $17.58. The stock’s 50-day simple moving average is $15.21 and its 200-day simple moving average is $12.61. The company has a market capitalization of $132.23 million, a price-to-earnings ratio of 8.41 and a beta of 0.32.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings results on Monday, December 23rd. The industrial products company reported $0.31 EPS for the quarter. Perma-Pipe International had a return on equity of 23.41% and a net margin of 10.33%.

About Perma-Pipe International

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers insulated and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines.