Geode Capital Management LLC Buys 2,657 Shares of Northwest Pipe (NASDAQ:NWPX)

Geode Capital Management LLC grew its stake in Northwest Pipe (NASDAQ:NWPX) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,232 shares of the industrial products company’s stock after purchasing an additional 2,657 shares during the quarter. Geode Capital Management LLC owned approximately 2.25% of Northwest Pipe worth $10,076,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on NWPX. Northland Securities lowered shares of Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a research note on Friday, November 1st. Northland Capmk downgraded Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, StockNews.com cut Northwest Pipe from a “buy” rating to a “hold” rating in a research report on Friday, December 27th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $45.00.

Northwest Pipe Stock Performance

NASDAQ NWPX opened at $48.26 on Thursday. The company has a market capitalization of $478.69 million, a PE ratio of 16.41, a price-to-earnings-growth ratio of 3.19 and a beta of 1.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.27 and a current ratio of 3.20. Northwest Pipe has a 52-week low of $27.89 and a 52-week high of $57.76. The company has a 50-day simple moving average of $51.85 and a 200 day simple moving average of $44.13.

Insider Transactions at Northwest Pipe

In related news, VP Megan A. Kendrick sold 1,000 shares of the company’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 transaction, the vice president now owns 9,725 shares in the company, valued at approximately $430,039.50. This represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.30% of the stock is currently owned by company insiders.

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.