Flputnam Investment Management Co. Cuts Position in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)

Flputnam Investment Management Co. reduced its holdings in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 14.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,049 shares of the industrial products company’s stock after selling 5,000 shares during the quarter. Flputnam Investment Management Co. owned 0.38% of Perma-Pipe International worth $449,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. IFP Advisors Inc purchased a new stake in Perma-Pipe International during the 4th quarter worth $48,000. State Street Corp purchased a new stake in shares of Perma-Pipe International in the third quarter worth about $140,000. Ritholtz Wealth Management acquired a new stake in shares of Perma-Pipe International in the fourth quarter valued at about $173,000. Empowered Funds LLC purchased a new stake in shares of Perma-Pipe International during the 4th quarter valued at about $276,000. Finally, Geode Capital Management LLC lifted its position in Perma-Pipe International by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company’s stock worth $1,068,000 after acquiring an additional 7,273 shares in the last quarter. Institutional investors and hedge funds own 28.43% of the company’s stock.

Perma-Pipe International Stock Down 0.3 %

Shares of NASDAQ:PPIH opened at $13.37 on Tuesday. The company has a market capitalization of $106.73 million, a price-to-earnings ratio of 6.79 and a beta of 0.32. The company has a 50 day moving average of $14.77 and a two-hundred day moving average of $13.79. Perma-Pipe International Holdings, Inc. has a 52-week low of $6.83 and a 52-week high of $17.58. 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 (NASDAQ:PPIH) last released its quarterly earnings results on Monday, December 23rd. The industrial products company reported $0.31 earnings per share for the quarter. Perma-Pipe International had a net margin of 10.33% and a return on equity of 23.41%.

Perma-Pipe International Company Profile

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.