HRT Financial LP Buys New Position in Northwest Pipe (NASDAQ:NWPX)

Posted by on May 30th, 2023

HRT Financial LP purchased a new stake in Northwest Pipe (NASDAQ:NWPX – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 38,640 shares of the industrial products company’s stock, valued at approximately $1,302,000. HRT Financial LP owned approximately 0.39% of Northwest Pipe as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quantbot Technologies LP raised its stake in Northwest Pipe by 268.8% in the second quarter. Quantbot Technologies LP now owns 1,099 shares of the industrial products company’s stock worth $32,000 after buying an additional 801 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Northwest Pipe during the fourth quarter valued at approximately $81,000. Lazard Asset Management LLC purchased a new stake in Northwest Pipe in the third quarter worth $86,000. BNP Paribas Arbitrage SA grew its stake in Northwest Pipe by 57.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,429 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 1,249 shares during the period. Finally, SG Americas Securities LLC bought a new position in Northwest Pipe in the fourth quarter worth $129,000. 83.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on NWPX. TheStreet downgraded shares of Northwest Pipe from a “b” rating to a “c+” rating in a research report on Thursday, May 4th. StockNews.com initiated coverage on shares of Northwest Pipe in a report on Thursday, May 18th. They issued a “hold” rating on the stock.

Northwest Pipe Trading Down 0.9 %

Northwest Pipe stock opened at $27.30 on Tuesday. Northwest Pipe has a 12 month low of $25.58 and a 12 month high of $40.60. The company has a market capitalization of $273 million, a price-to-earnings ratio of 9.16 and a beta of 0.87. The business’s fifty day simple moving average is $28.49 and its two-hundred day simple moving average is $33.55. The company has a current ratio of 2.89, a quick ratio of 2.10 and a debt-to-equity ratio of 0.20.

Northwest Pipe (NASDAQ:NWPX – Get Rating) last announced its quarterly earnings results on Wednesday, March 15th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. The company had revenue of $106.83 million for the quarter, compared to analysts’ expectations of $107.69 million. Northwest Pipe had a net margin of 6.69% and a return on equity of 10.19%. As a group, equities analysts predict that Northwest Pipe will post 2.91 earnings per share for the current fiscal year.

Northwest Pipe Profile

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Northwest Pipe Co operates as a manufacturer of engineered steel pipe water systems in North America. It operates through the following segments: Engineered Steel Pressure Pipe and Precast Infrastructure and Engineered Systems. The Engineered Steel Pressure Pipe segment manufactures large-diameter, high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems, hydroelectric power systems, wastewater systems, industrial plant piping systems, certain structural applications and other applications.

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Institutional Ownership by Quarter for Northwest Pipe (NASDAQ:NWPX)

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