Assenagon Asset Management S.A. Boosts Holdings in Northwest Pipe (NASDAQ:NWPX)

Assenagon Asset Management S.A. raised its position in Northwest Pipe (NASDAQ:NWPX) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,084 shares of the industrial products company’s stock after acquiring an additional 3,718 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.54% of Northwest Pipe worth $2,396,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Northwest Pipe by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 506,110 shares of the industrial products company’s stock valued at $17,552,000 after buying an additional 8,924 shares during the period. Foundry Partners LLC raised its position in Northwest Pipe by 0.8% in the second quarter. Foundry Partners LLC now owns 175,945 shares of the industrial products company’s stock worth $5,977,000 after acquiring an additional 1,340 shares in the last quarter. American Century Companies Inc. grew its holdings in Northwest Pipe by 26.7% in the second quarter. American Century Companies Inc. now owns 125,821 shares of the industrial products company’s stock valued at $4,274,000 after purchasing an additional 26,532 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Northwest Pipe by 4.2% in the first quarter. Russell Investments Group Ltd. now owns 56,226 shares of the industrial products company’s stock valued at $1,950,000 after purchasing an additional 2,281 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Northwest Pipe by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 53,509 shares of the industrial products company’s stock valued at $1,818,000 after purchasing an additional 2,428 shares during the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.

Insider Activity

In other news, VP Megan A. Kendrick sold 1,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $42.37, for a total value of $42,370.00. Following the completion of the sale, the vice president now owns 10,725 shares in the company, valued at $454,418.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP Megan A. Kendrick sold 1,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $42.37, for a total transaction of $42,370.00. Following the transaction, the vice president now directly owns 10,725 shares of the company’s stock, valued at approximately $454,418.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Miles Brittain sold 4,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $41.90, for a total value of $188,550.00. Following the completion of the transaction, the executive vice president now directly owns 25,858 shares in the company, valued at approximately $1,083,450.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,500 shares of company stock worth $275,140 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. StockNews.com lowered Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Northland Securities lifted their price objective on Northwest Pipe from $40.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd.

Northwest Pipe Price Performance

Shares of NASDAQ NWPX opened at $44.89 on Friday. Northwest Pipe has a twelve month low of $25.67 and a twelve month high of $46.95. The company has a current ratio of 3.06, a quick ratio of 2.19 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $445.26 million, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98. The business has a 50 day simple moving average of $43.72 and a 200-day simple moving average of $38.25.

Northwest Pipe (NASDAQ:NWPX) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.19. Northwest Pipe had a return on equity of 7.34% and a net margin of 5.33%. The company had revenue of $129.51 million during the quarter, compared to analysts’ expectations of $119.76 million. As a group, equities research analysts expect that Northwest Pipe will post 2.96 earnings per share for the current year.

Northwest Pipe Company Profile

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.