Posted by admin on Aug 17th, 2022

Russell Investments Group Ltd. trimmed its stake in Northwest Pipe (NASDAQ:NWPX – Get Rating) by 3.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,563 shares of the industrial products company’s stock after selling 2,549 shares during the period. Russell Investments Group Ltd. owned approximately 0.75% of Northwest Pipe worth $1,896,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Asset Dedication LLC purchased a new stake in shares of Northwest Pipe in the first quarter worth approximately $50,000. Byrne Asset Management LLC purchased a new stake in shares of Northwest Pipe in the fourth quarter worth approximately $62,000. Advisor Group Holdings Inc. raised its holdings in shares of Northwest Pipe by 13.4% in the first quarter. Advisor Group Holdings Inc. now owns 4,786 shares of the industrial products company’s stock worth $122,000 after buying an additional 567 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Northwest Pipe by 55.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 4,765 shares of the industrial products company’s stock worth $152,000 after buying an additional 1,692 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Northwest Pipe in the fourth quarter worth approximately $209,000. 82.91% of the stock is owned by institutional investors.

In other Northwest Pipe news, Director Richard A. Roman sold 3,574 shares of the firm’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $32.00, for a total transaction of $114,368.00. Following the transaction, the director now directly owns 31,558 shares in the company, valued at approximately $1,009,856. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Scott J. Montross sold 2,500 shares of Northwest Pipe stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $31.39, for a total value of $78,475.00. Following the transaction, the chief executive officer now directly owns 92,791 shares in the company, valued at approximately $2,912,709.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard A. Roman sold 3,574 shares of Northwest Pipe stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $32.00, for a total value of $114,368.00. Following the completion of the transaction, the director now owns 31,558 shares in the company, valued at $1,009,856. The disclosure for this sale can be found here. Insiders have sold 12,626 shares of company stock worth $408,772 in the last ninety days. 2.60% of the stock is owned by company insiders.

Separately, TheStreet upgraded Northwest Pipe from a “c+” rating to a “b” rating in a report on Tuesday, May 10th.

NWPX opened at $33.57 on Wednesday. The stock’s fifty day moving average is $30.55 and its two-hundred day moving average is $29.32. The company has a market capitalization of $332.88 million, a P/E ratio of 16.30 and a beta of 0.76. Northwest Pipe has a 52 week low of $23.11 and a 52 week high of $34.94. The company has a quick ratio of 2.13, a current ratio of 2.94 and a debt-to-equity ratio of 0.29.

Northwest Pipe Company, together with its subsidiaries, manufactures and supplies 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, high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.

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