JPMorgan Chase & Co. Buys 14,374 Shares of Northwest Pipe (NASDAQ:NWPX)

JPMorgan Chase & Co. raised its stake in shares of Northwest Pipe (NASDAQ:NWPX) by 34.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,371 shares of the industrial products company’s stock after acquiring an additional 14,374 shares during the period. JPMorgan Chase & Co. owned about 0.57% of Northwest Pipe worth $2,544,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NWPX shares. Northland Capmk cut Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. StockNews.com lowered shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Northland Securities raised their price objective on shares of Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $47.50.

Northwest Pipe Stock Up 1.2 %

NWPX stock opened at $49.78 on Tuesday. Northwest Pipe has a fifty-two week low of $27.89 and a fifty-two week high of $57.76. The stock has a fifty day moving average of $51.67 and a 200-day moving average of $45.51. The company has a market capitalization of $493.82 million, a price-to-earnings ratio of 16.93, a PEG ratio of 2.59 and a beta of 1.05. 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 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.