Summit Global Investments Cuts Position in Northwest Pipe (NASDAQ:NWPX)

Summit Global Investments lowered its position in shares of Northwest Pipe (NASDAQ:NWPX) by 13.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,027 shares of the industrial products company’s stock after selling 785 shares during the quarter. Summit Global Investments owned about 0.05% of Northwest Pipe worth $243,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jane Street Group LLC purchased a new stake in Northwest Pipe during the third quarter worth approximately $944,000. JPMorgan Chase & Co. lifted its holdings in shares of Northwest Pipe by 34.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 56,371 shares of the industrial products company’s stock valued at $2,544,000 after acquiring an additional 14,374 shares in the last quarter. Barclays PLC boosted its position in Northwest Pipe by 272.8% during the 3rd quarter. Barclays PLC now owns 13,001 shares of the industrial products company’s stock worth $586,000 after purchasing an additional 9,514 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Northwest Pipe in the fourth quarter valued at about $381,000. Finally, AlphaQuest LLC purchased a new position in Northwest Pipe in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 80.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Sidoti upgraded Northwest Pipe to a “hold” rating in a research note on Tuesday, February 25th. StockNews.com downgraded shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Northland Securities boosted their target price on shares of Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd.

Northwest Pipe Stock Down 0.8 %

Shares of Northwest Pipe stock opened at $43.52 on Wednesday. Northwest Pipe has a 1-year low of $31.16 and a 1-year high of $57.76. The company has a market capitalization of $432.37 million, a PE ratio of 14.80, a P/E/G ratio of 2.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 2.27. The business has a 50-day moving average of $46.92 and a 200-day moving average of $47.90.

Insider Buying and Selling at Northwest Pipe

In other news, CFO Aaron Wilkins sold 1,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $44.00, for a total transaction of $44,000.00. Following the completion of the transaction, the chief financial officer now directly owns 23,467 shares in the company, valued at approximately $1,032,548. This represents a 4.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is owned by 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.