Wedbush Securities Inc. Has $6.39 Million Stock Holdings in Perma-Pipe International Holdings, Inc. $PPIH

Wedbush Securities Inc. decreased its stake in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 23.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 279,256 shares of the industrial products company’s stock after selling 86,453 shares during the quarter. Wedbush Securities Inc.’s holdings in Perma-Pipe International were worth $6,387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. IMS Capital Management acquired a new position in shares of Perma-Pipe International in the second quarter worth $201,000. Jane Street Group LLC boosted its position in Perma-Pipe International by 55.2% during the first quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 6,583 shares during the last quarter. Empowered Funds LLC grew its stake in Perma-Pipe International by 8.8% in the first quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company’s stock valued at $250,000 after purchasing an additional 1,626 shares in the last quarter. Ellsworth Advisors LLC acquired a new position in Perma-Pipe International in the 1st quarter worth about $581,000. Finally, American Century Companies Inc. raised its stake in shares of Perma-Pipe International by 81.3% during the 1st quarter. American Century Companies Inc. now owns 57,465 shares of the industrial products company’s stock worth $714,000 after purchasing an additional 25,763 shares in 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 $27.80 on Friday. Perma-Pipe International Holdings, Inc. has a 12 month low of $8.81 and a 12 month high of $33.09. The company has a market cap of $225.01 million, a P/E ratio of 22.42 and a beta of 0.50. The business’s 50 day moving average is $26.56 and its two-hundred day moving average is $22.32. The company has a quick ratio of 1.64, a current ratio of 1.88 and a debt-to-equity ratio of 0.05.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings data on Monday, September 15th. The industrial products company reported $0.10 earnings per share for the quarter. Perma-Pipe International had a return on equity of 13.92% and a net margin of 5.55%.The company had revenue of $47.90 million during the quarter.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PPIH. Weiss Ratings reiterated a “hold (c+)” rating on shares of Perma-Pipe International in a report on Wednesday. Wall Street Zen lowered shares of Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 20th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

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.