Northwest Pipe (NASDAQ:NWPX) Sets New 52-Week High – Here’s Why

Northwest Pipe (NASDAQ:NWPX)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $50.71 and last traded at $50.50, with a volume of 39338 shares changing hands. The stock had previously closed at $47.26.

Analysts Set New Price Targets

Several research analysts have recently commented on NWPX shares. StockNews.com raised Northwest Pipe from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Northland Capmk lowered shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Northland Securities downgraded shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price objective on the stock. in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Northwest Pipe Price Performance

The stock’s 50 day simple moving average is $44.18 and its 200-day simple moving average is $38.84. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.27 and a current ratio of 3.20. The firm has a market cap of $519.21 million, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.98 and a beta of 0.98.

Insider Transactions at Northwest Pipe

In related news, EVP Miles Brittain sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $41.90, for a total value of $188,550.00. Following the sale, the executive vice president now owns 25,858 shares in the company, valued at $1,083,450.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Miles Brittain sold 4,500 shares of Northwest Pipe stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $41.90, for a total transaction of $188,550.00. Following the completion of the transaction, the executive vice president now directly owns 25,858 shares of the company’s stock, valued at $1,083,450.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Megan A. Kendrick sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total transaction of $44,220.00. Following the completion of the transaction, the vice president now owns 9,725 shares of the company’s stock, valued at approximately $430,039.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $275,140 over the last three months. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings in shares of Northwest Pipe by 1,857.6% during the 3rd quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock worth $29,000 after buying an additional 613 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Northwest Pipe during the first quarter worth $95,000. EntryPoint Capital LLC raised its position in Northwest Pipe by 120.2% in the first quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,890 shares during the period. SG Americas Securities LLC acquired a new position in shares of Northwest Pipe in the 3rd quarter valued at $165,000. Finally, Semanteon Capital Management LP purchased a new position in shares of Northwest Pipe during the 3rd quarter worth $230,000. 80.63% of the stock is owned by institutional investors and hedge funds.

About Northwest Pipe

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.