Geode Capital Management LLC Raises Holdings in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)

Geode Capital Management LLC lifted its position in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 9.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,269 shares of the industrial products company’s stock after purchasing an additional 7,273 shares during the quarter. Geode Capital Management LLC owned about 1.03% of Perma-Pipe International worth $1,068,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp purchased a new stake in shares of Perma-Pipe International during the 3rd quarter worth approximately $140,000. Essex Investment Management Co. LLC bought a new stake in Perma-Pipe International in the third quarter worth $190,000. Dimensional Fund Advisors LP raised its stake in Perma-Pipe International by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 447,168 shares of the industrial products company’s stock valued at $3,980,000 after purchasing an additional 4,309 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Perma-Pipe International by 1.8% during the second quarter. Renaissance Technologies LLC now owns 173,412 shares of the industrial products company’s stock valued at $1,543,000 after purchasing an additional 3,119 shares during the last quarter. 28.43% of the stock is currently owned by hedge funds and other institutional investors.

Perma-Pipe International Stock Performance

Shares of NASDAQ:PPIH opened at $13.39 on Friday. The firm has a fifty day simple moving average of $15.11 and a two-hundred day simple moving average of $12.21. Perma-Pipe International Holdings, Inc. has a 52 week low of $6.83 and a 52 week high of $17.58. The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $106.89 million, a P/E ratio of 7.05 and a beta of 0.32.

Perma-Pipe International (NASDAQ:PPIH) last released its quarterly earnings results on Monday, December 23rd. The industrial products company reported $0.31 EPS for the quarter. Perma-Pipe International had a return on equity of 23.84% and a net margin of 9.70%.

Perma-Pipe International Profile

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers insulated and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines.