Northwest Pipe (NWPX) Upgraded to “Hold” at Zacks Investment Research

Northwest Pipe (NASDAQ:NWPX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Northwest Pipe Company manufactures welded steel pipe in two business segments. In its Water Transmission business, they are a supplier of large diameter, high-pressure steel pipe used primarily for water transmission. In its Tubular Products business, they manufacture smaller diameter, electric resistance welded steel pipe for use in a wide range of construction, agricultural, energy and industrial applications. “

Shares of Northwest Pipe (NASDAQ:NWPX) opened at $18.19 on Wednesday. The stock has a market cap of $176.34, a P/E ratio of -79.08, a price-to-earnings-growth ratio of 3.28 and a beta of 1.20. Northwest Pipe has a 1 year low of $12.41 and a 1 year high of $21.11.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP raised its position in shares of Northwest Pipe by 5.2% in the second quarter. Royce & Associates LP now owns 1,290,827 shares of the industrial products company’s stock valued at $13,915,000 after buying an additional 64,000 shares in the last quarter. Royce & Associates LLC raised its position in shares of Northwest Pipe by 2.2% in the fourth quarter. Royce & Associates LLC now owns 1,221,467 shares of the industrial products company’s stock valued at $13,668,000 after buying an additional 26,340 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Northwest Pipe by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 806,473 shares of the industrial products company’s stock valued at $13,114,000 after buying an additional 15,189 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Northwest Pipe by 20.7% in the second quarter. William Blair Investment Management LLC now owns 723,133 shares of the industrial products company’s stock valued at $11,758,000 after buying an additional 123,852 shares in the last quarter. Finally, Heartland Advisors Inc. raised its position in shares of Northwest Pipe by 50.0% in the second quarter. Heartland Advisors Inc. now owns 600,000 shares of the industrial products company’s stock valued at $6,468,000 after buying an additional 200,000 shares in the last quarter. Institutional investors own 86.37% of the company’s stock.

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About Northwest Pipe

Northwest Pipe Company is a manufacturer of engineered steel pipe water systems. The Company operates through two segments. The Water Transmission segment produces steel pipeline systems for use in drinking water infrastructure, and has approximately eight manufacturing facilities, located in Portland, Oregon; Denver, Colorado; Adelanto, California; Parkersburg, West Virginia; Saginaw, Texas; St.

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