SummerHaven Investment Management LLC Takes $1.05 Million Position in NWPX Infrastructure, Inc. $NWPX

SummerHaven Investment Management LLC acquired a new stake in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 19,894 shares of the industrial products company’s stock, valued at approximately $1,053,000. NWPX Infrastructure accounts for 0.6% of SummerHaven Investment Management LLC’s portfolio, making the stock its 28th biggest position. SummerHaven Investment Management LLC owned about 0.21% of NWPX Infrastructure at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Seizert Capital Partners LLC bought a new position in NWPX Infrastructure during the 3rd quarter valued at $275,000. State of Alaska Department of Revenue bought a new position in shares of NWPX Infrastructure during the 3rd quarter valued at about $28,000. SG Americas Securities LLC bought a new stake in shares of NWPX Infrastructure in the 3rd quarter worth approximately $128,000. Allspring Global Investments Holdings LLC lifted its stake in NWPX Infrastructure by 67.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 85,527 shares of the industrial products company’s stock valued at $4,527,000 after purchasing an additional 34,526 shares during the last quarter. Finally, CWM LLC boosted its holdings in NWPX Infrastructure by 75.8% during the third quarter. CWM LLC now owns 582 shares of the industrial products company’s stock worth $31,000 after buying an additional 251 shares in the last quarter. 80.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NWPX Infrastructure

In other NWPX Infrastructure news, Director Michael C. Franson sold 5,506 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $60.17, for a total value of $331,296.02. Following the transaction, the director owned 18,525 shares in the company, valued at $1,114,649.25. The trade was a 22.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Scott J. Montross sold 8,210 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $57.27, for a total value of $470,186.70. Following the completion of the transaction, the chief executive officer directly owned 68,781 shares in the company, valued at approximately $3,939,087.87. The trade was a 10.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 28,001 shares of company stock valued at $1,631,008. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. DA Davidson increased their price objective on NWPX Infrastructure from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c+)” rating on shares of NWPX Infrastructure in a report on Thursday, January 22nd. Northland Securities upgraded shares of NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. Finally, Wall Street Zen upgraded shares of NWPX Infrastructure from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, NWPX Infrastructure presently has an average rating of “Moderate Buy” and an average price target of $70.00.

NWPX Infrastructure Trading Down 0.1%

NASDAQ:NWPX opened at $66.94 on Wednesday. The stock has a market cap of $643.29 million, a PE ratio of 18.19, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94. NWPX Infrastructure, Inc. has a fifty-two week low of $36.97 and a fifty-two week high of $70.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.60 and a quick ratio of 2.62. The stock’s 50-day moving average is $62.96 and its two-hundred day moving average is $55.28.

NWPX Infrastructure (NASDAQ:NWPX) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.02 by $0.36. The business had revenue of $151.07 million during the quarter, compared to analysts’ expectations of $132.01 million. NWPX Infrastructure had a net margin of 7.04% and a return on equity of 9.65%. As a group, equities research analysts forecast that NWPX Infrastructure, Inc. will post 3.32 earnings per share for the current fiscal year.

About NWPX Infrastructure

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. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications.