Empowered Funds LLC Buys New Stake in Perma-Pipe International Holdings, Inc. $PPIH

Empowered Funds LLC purchased a new stake in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 32,097 shares of the industrial products company’s stock, valued at approximately $874,000. Empowered Funds LLC owned 0.39% of Perma-Pipe International as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ritholtz Wealth Management increased its stake in Perma-Pipe International by 3.4% during the 1st quarter. Ritholtz Wealth Management now owns 19,554 shares of the industrial products company’s stock worth $583,000 after buying an additional 647 shares in the last quarter. State of Wyoming raised its holdings in Perma-Pipe International by 59.7% in the 4th quarter. State of Wyoming now owns 2,102 shares of the industrial products company’s stock valued at $64,000 after buying an additional 786 shares during the period. Bank of America Corp DE boosted its position in shares of Perma-Pipe International by 1,730.8% during the 2nd quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 1,125 shares during the period. Global Trust Asset Management LLC acquired a new position in shares of Perma-Pipe International in the first quarter worth $44,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Perma-Pipe International by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 478,988 shares of the industrial products company’s stock worth $11,222,000 after buying an additional 2,463 shares during the last quarter. 28.43% of the stock is owned by institutional investors and hedge funds.

Perma-Pipe International Price Performance

PPIH stock opened at $28.38 on Friday. The stock’s fifty day simple moving average is $25.98 and its 200-day simple moving average is $29.12. The company has a quick ratio of 2.02, a current ratio of 2.31 and a debt-to-equity ratio of 0.21. Perma-Pipe International Holdings, Inc. has a 52-week low of $21.96 and a 52-week high of $36.72. The stock has a market capitalization of $230.73 million, a price-to-earnings ratio of 16.79 and a beta of 0.59.

Perma-Pipe International (NASDAQ:PPIH) last released its quarterly earnings results on Tuesday, June 9th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.26). The firm had revenue of $50.27 million for the quarter, compared to analysts’ expectations of $54.00 million. Perma-Pipe International had a return on equity of 15.92% and a net margin of 6.47%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Perma-Pipe International in a report on Friday, August 14th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.00.

Perma-Pipe International Profile

Perma-Pipe International Holdings Ltd. is a publicly traded company on the NASDAQ under the symbol PPIH that specializes in the design, manufacture and installation of prefabricated piping systems. Its core business revolves around factory-assembled thermal insulation and corrosion protection solutions, including pre-insulated pipe, heat tracing, field-applied jackets and specialty spool pieces. These engineered systems are custom-built to industry specifications and are used to maintain temperatures, control heat loss and extend the life of critical piping infrastructure.

The company’s products and services serve a diverse range of end markets, with primary focus on oil and gas production, petrochemical processing, power generation, district energy, and industrial facilities.