36,954 Shares in Perma-Pipe International Holdings, Inc. $PPIH Acquired by 683 Capital Management LLC

683 Capital Management LLC bought a new position in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 36,954 shares of the industrial products company’s stock, valued at approximately $1,122,000. 683 Capital Management LLC owned 0.46% of Perma-Pipe International at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PPIH. Ritholtz Wealth Management raised its position in Perma-Pipe International by 3.8% in the 4th quarter. Ritholtz Wealth Management now owns 18,907 shares of the industrial products company’s stock valued at $574,000 after purchasing an additional 687 shares during the last quarter. State of Wyoming boosted its stake in Perma-Pipe International by 59.7% in the fourth quarter. State of Wyoming now owns 2,102 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 786 shares in the last quarter. Bank of America Corp DE boosted its stake in Perma-Pipe International by 1,730.8% in the second 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 in the last quarter. Empowered Funds LLC boosted its stake in Perma-Pipe International by 8.8% in the first quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company’s stock worth $250,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Perma-Pipe International by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 478,988 shares of the industrial products company’s stock worth $11,222,000 after purchasing an additional 2,463 shares in the last quarter. Institutional investors own 28.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PPIH shares. Weiss Ratings lowered Perma-Pipe International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 19th. Wall Street Zen downgraded Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research report on Saturday, April 18th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $36.00.

Perma-Pipe International Trading Up 2.2%

PPIH stock opened at $27.31 on Thursday. The company has a market cap of $222.03 million, a P/E ratio of 16.16 and a beta of 0.54. Perma-Pipe International Holdings, Inc. has a twelve month low of $20.21 and a twelve month high of $36.72. The company has a quick ratio of 2.02, a current ratio of 2.31 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $31.34 and a 200-day moving average of $30.92.

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

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.