Walthausen & Co. LLC lifted its position in shares of Northwest Pipe (NASDAQ:NWPX) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,150 shares of the industrial products company’s stock after purchasing an additional 5,180 shares during the quarter. Walthausen & Co. LLC owned 0.77% of Northwest Pipe worth $2,503,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can boosted its position in shares of Northwest Pipe by 42.8% during the fourth quarter. Bank of Montreal Can now owns 1,204 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 361 shares in the last quarter. Citigroup Inc. lifted its position in Northwest Pipe by 45.6% in the 4th quarter. Citigroup Inc. now owns 1,918 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 601 shares in the last quarter. California Public Employees Retirement System lifted its position in Northwest Pipe by 6.0% in the 3rd quarter. California Public Employees Retirement System now owns 21,300 shares of the industrial products company’s stock valued at $600,000 after acquiring an additional 1,200 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Northwest Pipe in the 4th quarter valued at $42,000. Finally, Meeder Asset Management Inc. bought a new stake in Northwest Pipe in the 4th quarter valued at $45,000. 82.14% of the stock is currently owned by institutional investors.
NWPX stock traded up $3.79 during midday trading on Thursday, hitting $26.65. The company’s stock had a trading volume of 99,300 shares, compared to its average volume of 73,919. Northwest Pipe has a twelve month low of $18.04 and a twelve month high of $36.70. The company’s fifty day moving average price is $29.78 and its 200 day moving average price is $30.93. The stock has a market capitalization of $218.71 million, a P/E ratio of 9.35 and a beta of 0.70.
In other Northwest Pipe news, Director Michael C. Franson purchased 1,000 shares of the stock in a transaction on Wednesday, March 11th. The shares were purchased at an average cost of $25.32 per share, for a total transaction of $25,320.00. Following the purchase, the director now owns 14,648 shares of the company’s stock, valued at $370,887.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by insiders.
Several equities research analysts recently commented on the stock. BidaskClub cut shares of Northwest Pipe from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Zacks Investment Research cut shares of Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research report on Saturday, March 7th. DA Davidson reaffirmed a “buy” rating on shares of Northwest Pipe in a research report on Monday, February 10th. Northland Securities reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Northwest Pipe in a research report on Friday, December 6th. Finally, ValuEngine cut shares of Northwest Pipe from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Northwest Pipe presently has a consensus rating of “Hold” and an average target price of $42.00.
About Northwest Pipe
Northwest Pipe Company manufactures engineered welded steel pipe water systems in North America. It produces large-diameter, high-pressure, and engineered welded steel pipeline systems for use in drinking water infrastructure; and pipes for piling and hydroelectric projects, water and wastewater treatment plants, and other applications, as well as for industrial plant piping systems and structural applications.
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