Northwest Pipe (NWPX) Upgraded by ValuEngine to “Strong-Buy”

ValuEngine upgraded shares of Northwest Pipe (NASDAQ:NWPX) from a buy rating to a strong-buy rating in a research report released on Thursday.

Separately, Zacks Investment Research raised Northwest Pipe from a strong sell rating to a hold rating in a research report on Thursday, October 4th.

Northwest Pipe stock traded up $0.84 during mid-day trading on Thursday, reaching $23.32. 132,957 shares of the company were exchanged, compared to its average volume of 35,220. Northwest Pipe has a twelve month low of $16.52 and a twelve month high of $23.82. The stock has a market capitalization of $191.78 million, a price-to-earnings ratio of -35.88 and a beta of 0.98.

In related news, Director Michelle Galanter Applebaum acquired 3,604 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was bought at an average cost of $17.97 per share, with a total value of $64,763.88. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $359,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of NWPX. Advisors Asset Management Inc. raised its stake in shares of Northwest Pipe by 2,320.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 248,001 shares of the industrial products company’s stock worth $519,000 after buying an additional 237,754 shares in the last quarter. Royce & Associates LP raised its stake in shares of Northwest Pipe by 14.9% during the 2nd quarter. Royce & Associates LP now owns 1,415,455 shares of the industrial products company’s stock worth $27,417,000 after buying an additional 183,655 shares in the last quarter. BlackRock Inc. raised its stake in shares of Northwest Pipe by 6.1% during the 2nd quarter. BlackRock Inc. now owns 672,717 shares of the industrial products company’s stock worth $13,031,000 after buying an additional 38,719 shares in the last quarter. Quantum Capital Management raised its stake in shares of Northwest Pipe by 35.6% during the 3rd quarter. Quantum Capital Management now owns 139,134 shares of the industrial products company’s stock worth $2,748,000 after buying an additional 36,520 shares in the last quarter. Finally, Foundry Partners LLC raised its stake in shares of Northwest Pipe by 2.5% during the 2nd quarter. Foundry Partners LLC now owns 274,325 shares of the industrial products company’s stock worth $5,314,000 after buying an additional 6,600 shares in the last quarter. 86.45% of the stock is owned by institutional investors and hedge funds.

About Northwest Pipe

Northwest Pipe Company manufactures engineered steel pipe water systems in North America. It produces large-diameter, high-pressure, and engineered welded steel pipeline systems for use in drinking water infrastructure; and pipes for piling and hydroelectric projects, wastewater treatment plants, and other applications, as well as for industrial plant piping systems and structural applications.

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