Northwest Pipe (NASDAQ:NWPX) Shares Sold by State Street Corp

State Street Corp reduced its holdings in Northwest Pipe (NASDAQ:NWPX) by 0.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,051 shares of the industrial products company’s stock after selling 215 shares during the quarter. State Street Corp owned about 2.21% of Northwest Pipe worth $9,886,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NWPX. Covestor Ltd boosted its position in Northwest Pipe by 1,857.6% during the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 613 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Northwest Pipe during the 3rd quarter worth $67,000. SG Americas Securities LLC purchased a new stake in shares of Northwest Pipe in the 3rd quarter worth about $165,000. Semanteon Capital Management LP purchased a new position in Northwest Pipe during the 3rd quarter valued at about $230,000. Finally, Summit Global Investments acquired a new position in Northwest Pipe during the third quarter worth about $262,000. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Megan A. Kendrick sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total value of $44,220.00. Following the sale, the vice president now owns 9,725 shares of the company’s stock, valued at approximately $430,039.50. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NWPX shares. StockNews.com cut Northwest Pipe from a “buy” rating to a “hold” rating in a report on Friday. Northland Capmk lowered shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a 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 target for the company. in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.00.

Northwest Pipe Trading Down 0.7 %

NWPX opened at $49.83 on Friday. The firm has a market capitalization of $494.26 million, a P/E ratio of 16.95, a P/E/G ratio of 3.19 and a beta of 1.02. The firm’s 50 day moving average is $51.55 and its 200-day moving average is $43.63. The company has a quick ratio of 2.27, a current ratio of 3.20 and a debt-to-equity ratio of 0.17. Northwest Pipe has a 52-week low of $27.89 and a 52-week high of $57.76.

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.