Victory Capital Management Inc. Purchases 8,576 Shares of Northwest Pipe (NASDAQ:NWPX)

Victory Capital Management Inc. raised its position in shares of Northwest Pipe (NASDAQ:NWPX) by 19.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 52,686 shares of the industrial products company’s stock after purchasing an additional 8,576 shares during the quarter. Victory Capital Management Inc. owned approximately 0.53% of Northwest Pipe worth $2,378,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NWPX. Ellsworth Advisors LLC acquired a new position in Northwest Pipe during the 2nd quarter worth approximately $529,000. Silver Lake Advisory LLC bought a new position in Northwest Pipe in the 2nd quarter worth approximately $743,000. Assenagon Asset Management S.A. increased its position in shares of Northwest Pipe by 7.5% during the third quarter. Assenagon Asset Management S.A. now owns 53,084 shares of the industrial products company’s stock valued at $2,396,000 after buying an additional 3,718 shares during the period. American Century Companies Inc. raised its position in shares of Northwest Pipe by 26.7% in the second quarter. American Century Companies Inc. now owns 125,821 shares of the industrial products company’s stock worth $4,274,000 after buying an additional 26,532 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Northwest Pipe by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 53,509 shares of the industrial products company’s stock valued at $1,818,000 after purchasing an additional 2,428 shares during the last quarter. 80.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Northwest Pipe news, VP Megan A. Kendrick sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $44.22, for a total value of $44,220.00. Following the completion of the sale, the vice president now owns 9,725 shares of the company’s stock, valued at $430,039.50. This trade represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Miles Brittain sold 4,500 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 25,858 shares of the company’s stock, valued at $1,083,450.20. This represents a 14.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,800 shares of company stock worth $291,070 over the last 90 days. Corporate insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NWPX. StockNews.com upgraded shares of Northwest Pipe from a “hold” rating to a “buy” rating in a report on Sunday, November 17th. Northland Capmk cut shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Northland Securities cut shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price target on the stock. in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Northwest Pipe Stock Performance

NASDAQ:NWPX opened at $56.29 on Monday. The company has a current ratio of 3.20, a quick ratio of 2.27 and a debt-to-equity ratio of 0.17. Northwest Pipe has a 12-month low of $25.81 and a 12-month high of $56.37. The stock has a 50-day moving average price of $47.00 and a 200 day moving average price of $40.68. The stock has a market capitalization of $558.40 million, a P/E ratio of 19.15, a P/E/G ratio of 3.33 and a beta of 0.98.

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.