Perma-Pipe International Holdings, Inc. $PPIH Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its holdings in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 81.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,465 shares of the industrial products company’s stock after purchasing an additional 25,763 shares during the period. American Century Companies Inc. owned 0.72% of Perma-Pipe International worth $714,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PPIH. Barclays PLC acquired a new position in Perma-Pipe International during the fourth quarter worth approximately $36,000. State of Wyoming acquired a new stake in Perma-Pipe International during the 4th quarter valued at $77,000. Lazard Asset Management LLC bought a new position in Perma-Pipe International during the 4th quarter valued at $113,000. Jane Street Group LLC bought a new position in Perma-Pipe International during the 4th quarter valued at $178,000. Finally, Citadel Advisors LLC boosted its stake in Perma-Pipe International by 116.2% during the 4th quarter. Citadel Advisors LLC now owns 23,886 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 12,836 shares during the last quarter. Institutional investors and hedge funds own 28.43% of the company’s stock.

Perma-Pipe International Stock Performance

Perma-Pipe International stock opened at $31.43 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.95 and a quick ratio of 1.72. The company has a market cap of $250.81 million, a P/E ratio of 20.41 and a beta of 0.54. The firm’s 50 day simple moving average is $25.69 and its 200-day simple moving average is $18.00. Perma-Pipe International Holdings, Inc. has a fifty-two week low of $8.81 and a fifty-two week high of $32.90.

Perma-Pipe International (NASDAQ:PPIH) last released its earnings results on Friday, June 13th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter. Perma-Pipe International had a net margin of 7.31% and a return on equity of 17.84%. The company had revenue of $46.75 million during the quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Perma-Pipe International from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 22nd.

About Perma-Pipe International

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers insulated and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines.