Mirae Asset Global Investments Co. Ltd. Lowers Stock Holdings in Northwest Pipe (NASDAQ:NWPX)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Northwest Pipe (NASDAQ:NWPX) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 410,860 shares of the industrial products company’s stock after selling 3,764 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 4.10% of Northwest Pipe worth $12,433,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Citigroup Inc. lifted its stake in Northwest Pipe by 1,429.9% in the first quarter. Citigroup Inc. now owns 1,025 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 958 shares during the period. Quantbot Technologies LP raised its holdings in shares of Northwest Pipe by 268.8% in the 2nd quarter. Quantbot Technologies LP now owns 1,099 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 801 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Northwest Pipe in the 4th quarter worth approximately $34,000. Tower Research Capital LLC TRC boosted its stake in shares of Northwest Pipe by 127.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,498 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 840 shares in the last quarter. Finally, FMR LLC increased its holdings in Northwest Pipe by 1,035.4% during the first quarter. FMR LLC now owns 1,669 shares of the industrial products company’s stock valued at $52,000 after buying an additional 1,522 shares during the period. Institutional investors own 80.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NWPX. DA Davidson upped their target price on Northwest Pipe from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. TheStreet raised shares of Northwest Pipe from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, StockNews.com upgraded shares of Northwest Pipe from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th.

Northwest Pipe Stock Performance

Shares of NWPX opened at $33.64 on Friday. Northwest Pipe has a 12 month low of $25.58 and a 12 month high of $35.32. The stock has a fifty day moving average price of $31.96 and a 200-day moving average price of $29.73. The company has a current ratio of 2.83, a quick ratio of 1.88 and a debt-to-equity ratio of 0.16. The firm has a market cap of $332.70 million, a PE ratio of 16.10, a P/E/G ratio of 2.90 and a beta of 0.95.

Northwest Pipe (NASDAQ:NWPX) last released its quarterly earnings results on Tuesday, March 5th. The industrial products company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Northwest Pipe had a return on equity of 6.36% and a net margin of 4.74%. The company had revenue of $110.16 million during the quarter, compared to analysts’ expectations of $105.03 million. During the same period last year, the business posted $0.85 earnings per share. Equities research analysts predict that Northwest Pipe will post 2.31 earnings per share for the current fiscal year.

About Northwest Pipe

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.