NWPX Infrastructure (NASDAQ:NWPX) Sets New 52-Week High After Earnings Beat

NWPX Infrastructure, Inc. (NASDAQ:NWPX)’s stock price reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $80.00 and last traded at $76.9650, with a volume of 21560 shares. The stock had previously closed at $74.01.

The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.31. NWPX Infrastructure had a net margin of 7.04% and a return on equity of 9.65%. The company had revenue of $125.64 million for the quarter, compared to the consensus estimate of $122.00 million.

Analysts Set New Price Targets

NWPX has been the topic of several research reports. Wall Street Zen upgraded shares of NWPX Infrastructure from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. DA Davidson lifted their price target on NWPX Infrastructure from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Northland Securities upgraded NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings lowered NWPX Infrastructure from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $70.00.

Insiders Place Their Bets

In related news, CFO Aaron Wilkins sold 5,009 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $59.90, for a total transaction of $300,039.10. Following the transaction, the chief financial officer directly owned 19,753 shares of the company’s stock, valued at approximately $1,183,204.70. This trade represents a 20.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael C. Franson sold 5,506 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $60.17, for a total transaction of $331,296.02. Following the completion of the transaction, the director owned 18,525 shares in the company, valued at $1,114,649.25. This represents a 22.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 11,791 shares of company stock worth $708,142. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On NWPX Infrastructure

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NWPX Infrastructure by 2.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 575,365 shares of the industrial products company’s stock valued at $30,453,000 after purchasing an additional 12,272 shares during the period. Royce & Associates LP lifted its position in shares of NWPX Infrastructure by 7.1% in the 3rd quarter. Royce & Associates LP now owns 537,188 shares of the industrial products company’s stock worth $28,433,000 after purchasing an additional 35,768 shares during the period. Legal & General Group Plc boosted its stake in shares of NWPX Infrastructure by 14.4% during the 2nd quarter. Legal & General Group Plc now owns 323,819 shares of the industrial products company’s stock valued at $13,280,000 after purchasing an additional 40,751 shares in the last quarter. American Century Companies Inc. increased its position in shares of NWPX Infrastructure by 2.6% during the second quarter. American Century Companies Inc. now owns 246,430 shares of the industrial products company’s stock valued at $10,106,000 after buying an additional 6,258 shares during the period. Finally, Geode Capital Management LLC raised its stake in NWPX Infrastructure by 4.9% in the second quarter. Geode Capital Management LLC now owns 240,631 shares of the industrial products company’s stock worth $9,870,000 after buying an additional 11,342 shares in the last quarter. 80.63% of the stock is owned by hedge funds and other institutional investors.

NWPX Infrastructure Trading Up 5.9%

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 $68.37 and its 200-day moving average is $59.61. The company has a market capitalization of $753.33 million, a P/E ratio of 21.30, a P/E/G ratio of 1.73 and a beta of 0.96.

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