Russell Investments Group Ltd. Boosts Stake in Northwest Pipe (NASDAQ:NWPX)

Russell Investments Group Ltd. lifted its stake in Northwest Pipe (NASDAQ:NWPX – Get Rating) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,641 shares of the industrial products company’s stock after purchasing an additional 2,687 shares during the period. Russell Investments Group Ltd. owned 0.79% of Northwest Pipe worth $2,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NWPX. First Trust Advisors LP increased its stake in shares of Northwest Pipe by 57.7% in the 3rd quarter. First Trust Advisors LP now owns 68,363 shares of the industrial products company’s stock worth $1,921,000 after purchasing an additional 25,007 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Northwest Pipe by 28.6% in the 1st quarter. Wellington Management Group LLP now owns 101,023 shares of the industrial products company’s stock worth $2,571,000 after buying an additional 22,495 shares during the period. Shilanski & Associates Inc. bought a new position in Northwest Pipe in the 3rd quarter worth $607,000. Citadel Advisors LLC boosted its holdings in Northwest Pipe by 112.9% in the 3rd quarter. Citadel Advisors LLC now owns 40,581 shares of the industrial products company’s stock worth $1,141,000 after buying an additional 21,516 shares during the period. Finally, Jane Street Group LLC bought a new position in Northwest Pipe in the 3rd quarter worth $435,000. 83.03% of the stock is currently owned by hedge funds and other institutional investors.

Northwest Pipe Stock Down 1.1 %

Shares of NASDAQ NWPX opened at $27.32 on Friday. The firm’s 50-day moving average price is $29.32 and its 200-day moving average price is $33.84. The company has a current ratio of 2.89, a quick ratio of 2.10 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $273.20 million, a price-to-earnings ratio of 9.17 and a beta of 0.87. Northwest Pipe has a 12-month low of $25.58 and a 12-month high of $40.60.

Northwest Pipe (NASDAQ:NWPX – Get Rating) last announced its earnings results on Wednesday, March 15th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.10. The firm had revenue of $106.83 million for the quarter, compared to analysts’ expectations of $107.69 million. Northwest Pipe had a net margin of 6.69% and a return on equity of 10.19%. On average, equities research analysts anticipate that Northwest Pipe will post 2.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on NWPX. StockNews.com began coverage on shares of Northwest Pipe in a report on Thursday. They set a “hold” rating for the company. TheStreet downgraded shares of Northwest Pipe from a “b” rating to a “c+” rating in a report on Thursday, May 4th. Finally, Northland Securities began coverage on shares of Northwest Pipe in a report on Monday, January 23rd. They set an “outperform” rating and a $55.00 price objective for the company.

Northwest Pipe Profile

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Northwest Pipe Co operates as a manufacturer of engineered steel pipe water systems in North America. It operates through the following segments: Engineered Steel Pressure Pipe and Precast Infrastructure and Engineered Systems. The Engineered Steel Pressure Pipe segment manufactures large-diameter, high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems, hydroelectric power systems, wastewater systems, industrial plant piping systems, certain structural applications and other applications.