Assenagon Asset Management S.A. Lowers Position in Northwest Pipe (NASDAQ:NWPX)

Assenagon Asset Management S.A. trimmed its position in Northwest Pipe (NASDAQ:NWPX) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,366 shares of the industrial products company’s stock after selling 3,718 shares during the period. Assenagon Asset Management S.A. owned 0.50% of Northwest Pipe worth $2,382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NWPX. JPMorgan Chase & Co. boosted its holdings in shares of Northwest Pipe by 34.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 56,371 shares of the industrial products company’s stock valued at $2,544,000 after buying an additional 14,374 shares in the last quarter. Barclays PLC lifted its position in Northwest Pipe by 272.8% during the 3rd quarter. Barclays PLC now owns 13,001 shares of the industrial products company’s stock valued at $586,000 after acquiring an additional 9,514 shares during the period. Geode Capital Management LLC boosted its stake in Northwest Pipe by 1.2% during the third quarter. Geode Capital Management LLC now owns 223,232 shares of the industrial products company’s stock worth $10,076,000 after acquiring an additional 2,657 shares in the last quarter. Zacks Investment Management purchased a new stake in Northwest Pipe in the third quarter worth about $1,607,000. Finally, Jane Street Group LLC bought a new position in shares of Northwest Pipe during the third quarter valued at approximately $944,000. 80.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NWPX. Northland Securities boosted their price target on Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. StockNews.com downgraded Northwest Pipe from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Northland Capmk downgraded Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $47.50.

Northwest Pipe Trading Down 2.0 %

NASDAQ:NWPX opened at $49.88 on Thursday. The stock has a market cap of $494.81 million, a price-to-earnings ratio of 16.97, a PEG ratio of 2.86 and a beta of 1.05. The company has a quick ratio of 2.27, a current ratio of 3.20 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average price is $51.55 and its 200-day moving average price is $45.67. Northwest Pipe has a 52 week low of $28.35 and a 52 week high of $57.76.

Northwest Pipe (NASDAQ:NWPX) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.85 by $0.17. Northwest Pipe had a return on equity of 8.47% and a net margin of 6.12%. The business had revenue of $130.20 million for the quarter, compared to the consensus estimate of $126.80 million. During the same period last year, the business posted $0.58 EPS. On average, equities research analysts forecast that Northwest Pipe will post 3.32 earnings per share for the current fiscal year.

Northwest Pipe Profile

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.