Northwest Pipe (NASDAQ:NWPX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
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 $18.00 on Tuesday. Northwest Pipe has a 1 year low of $12.41 and a 1 year high of $21.11.
Several institutional investors have recently made changes to their positions in the company. Royce & Associates LP raised its position in shares of Northwest Pipe by 4.9% during the 3rd quarter. Royce & Associates LP now owns 1,253,900 shares of the industrial products company’s stock worth $23,849,000 after purchasing an additional 59,000 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Northwest Pipe by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 806,473 shares of the industrial products company’s stock worth $13,114,000 after purchasing an additional 15,189 shares during the period. BlackRock Inc. raised its position in shares of Northwest Pipe by 1.1% during the 4th quarter. BlackRock Inc. now owns 640,986 shares of the industrial products company’s stock worth $12,269,000 after purchasing an additional 7,221 shares during the period. D.A. Davidson & CO. raised its position in shares of Northwest Pipe by 0.7% during the 3rd quarter. D.A. Davidson & CO. now owns 568,283 shares of the industrial products company’s stock worth $10,808,000 after purchasing an additional 4,186 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Northwest Pipe by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 404,900 shares of the industrial products company’s stock worth $6,583,000 after purchasing an additional 7,769 shares during the period. Institutional investors and hedge funds own 86.34% of the company’s stock.
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Northwest Pipe Company Profile
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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