SummerHaven Investment Management LLC Acquires New Holdings in NWPX Infrastructure, Inc. $NWPX

SummerHaven Investment Management LLC purchased a new position in shares of NWPX Infrastructure, Inc. (NASDAQ:NWPX) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 19,894 shares of the industrial products company’s stock, valued at approximately $1,053,000. NWPX Infrastructure comprises 0.6% of SummerHaven Investment Management LLC’s investment portfolio, making the stock its 28th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in NWPX Infrastructure during the third quarter valued at approximately $28,000. CWM LLC raised its stake in NWPX Infrastructure by 75.8% during the 3rd quarter. CWM LLC now owns 582 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 251 shares during the last quarter. SG Americas Securities LLC acquired a new stake in NWPX Infrastructure in the 3rd quarter worth $128,000. Raymond James Financial Inc. bought a new position in shares of NWPX Infrastructure during the 2nd quarter worth about $163,000. Finally, Man Group plc acquired a new position in shares of NWPX Infrastructure during the second quarter valued at about $212,000. Institutional investors and hedge funds own 80.63% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael C. Franson sold 5,506 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $60.17, for a total transaction of $331,296.02. Following the completion of the sale, the director owned 18,525 shares of the company’s stock, valued at $1,114,649.25. This represents a 22.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Miles Brittain sold 4,000 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $56.41, for a total transaction of $225,640.00. Following the sale, the executive vice president owned 25,725 shares in the company, valued at approximately $1,451,147.25. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,001 shares of company stock valued at $1,631,008 in the last quarter. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

NWPX has been the topic of a number of research reports. DA Davidson boosted their price objective on NWPX Infrastructure from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NWPX Infrastructure in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of NWPX Infrastructure from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Northland Securities upgraded NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, NWPX Infrastructure currently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

NWPX Infrastructure Stock Performance

NWPX stock opened at $66.94 on Wednesday. NWPX Infrastructure, Inc. has a 1-year low of $36.97 and a 1-year high of $70.61. The company has a current ratio of 3.60, a quick ratio of 2.62 and a debt-to-equity ratio of 0.10. The firm has a market cap of $643.29 million, a PE ratio of 18.19, a P/E/G ratio of 1.59 and a beta of 0.94. The business’s 50-day moving average price is $62.96 and its two-hundred day moving average price is $55.28.

NWPX Infrastructure (NASDAQ:NWPX) last released its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.36. NWPX Infrastructure had a return on equity of 9.65% and a net margin of 7.04%.The company had revenue of $151.07 million for the quarter, compared to analyst estimates of $132.01 million. As a group, research analysts forecast that NWPX Infrastructure, Inc. will post 3.32 earnings per share for the current year.

About NWPX Infrastructure

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications.