Bank of New York Mellon Corp Grows Stock Holdings in Northwest Pipe (NASDAQ:NWPX)

Bank of New York Mellon Corp boosted its holdings in shares of Northwest Pipe (NASDAQ:NWPX) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,509 shares of the industrial products company’s stock after purchasing an additional 2,428 shares during the quarter. Bank of New York Mellon Corp owned about 0.54% of Northwest Pipe worth $1,818,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Northwest Pipe by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,309 shares of the industrial products company’s stock worth $462,000 after buying an additional 598 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Northwest Pipe by 9.7% in the first quarter. Janney Montgomery Scott LLC now owns 17,029 shares of the industrial products company’s stock worth $591,000 after buying an additional 1,507 shares during the last quarter. EntryPoint Capital LLC boosted its stake in Northwest Pipe by 120.2% during the first quarter. EntryPoint Capital LLC now owns 3,462 shares of the industrial products company’s stock worth $120,000 after buying an additional 1,890 shares during the period. Russell Investments Group Ltd. grew its holdings in Northwest Pipe by 4.2% during the 1st quarter. Russell Investments Group Ltd. now owns 56,226 shares of the industrial products company’s stock valued at $1,950,000 after purchasing an additional 2,281 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Northwest Pipe in the first quarter worth approximately $95,000. Institutional investors own 80.63% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Miles Brittain sold 4,500 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 25,858 shares of the company’s stock, valued at $1,083,450.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $42.37, for a total value of $42,370.00. Following the sale, the vice president now owns 10,725 shares of the company’s stock, valued at $454,418.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Miles Brittain sold 4,500 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 25,858 shares of the company’s stock, valued at $1,083,450.20. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on NWPX shares. StockNews.com upgraded Northwest Pipe from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Northland Securities boosted their price target on Northwest Pipe from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd.

Northwest Pipe Price Performance

Shares of NWPX stock opened at $43.93 on Wednesday. Northwest Pipe has a fifty-two week low of $25.67 and a fifty-two week high of $46.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.19 and a current ratio of 3.06. The firm has a market capitalization of $435.57 million, a price-to-earnings ratio of 18.56, a PEG ratio of 2.74 and a beta of 0.99. The stock’s 50-day simple moving average is $39.85 and its 200-day simple moving average is $35.89.

Northwest Pipe (NASDAQ:NWPX) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.19. Northwest Pipe had a net margin of 5.33% and a return on equity of 7.34%. The firm had revenue of $129.51 million for the quarter, compared to analyst estimates of $119.76 million. As a group, equities analysts forecast that Northwest Pipe will post 2.96 earnings per share for the current fiscal year.

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.