Zacks Investment Research cut shares of Northwest Pipe (NASDAQ:NWPX) from a hold rating to a sell rating in a research note published on Wednesday morning.
According to Zacks, “Northwest Pipe Company manufactures welded steel pipe in two business segments. In its Water Transmission business, they are a supplier of large diameter, high-pressure steel pipe used primarily for water transmission. In its Tubular Products business, they manufacture smaller diameter, electric resistance welded steel pipe for use in a wide range of construction, agricultural, energy and industrial applications. “
Northwest Pipe (NASDAQ NWPX) opened at $19.18 on Wednesday. Northwest Pipe has a twelve month low of $12.41 and a twelve month high of $21.11. The stock has a market capitalization of $186.24, a PE ratio of -83.39, a P/E/G ratio of 3.46 and a beta of 1.20.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC purchased a new position in shares of Northwest Pipe during the fourth quarter worth about $459,000. National Investment Services Inc. WI purchased a new position in shares of Northwest Pipe during the fourth quarter worth about $447,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Northwest Pipe during the third quarter worth about $169,000. Royce & Associates LP grew its holdings in shares of Northwest Pipe by 4.9% during the third quarter. Royce & Associates LP now owns 1,253,900 shares of the industrial products company’s stock worth $23,849,000 after buying an additional 59,000 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Northwest Pipe by 10.5% during the third quarter. Allianz Asset Management GmbH now owns 57,963 shares of the industrial products company’s stock worth $1,102,000 after buying an additional 5,485 shares during the last quarter. 86.52% of the stock is currently owned by hedge funds and other institutional investors.
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Northwest Pipe Company Profile
Northwest Pipe Company is a manufacturer of engineered steel pipe water systems. The Company operates through two segments. The Water Transmission segment produces steel pipeline systems for use in drinking water infrastructure, and has approximately eight manufacturing facilities, located in Portland, Oregon; Denver, Colorado; Adelanto, California; Parkersburg, West Virginia; Saginaw, Texas; St.
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