NWPX Infrastructure (NASDAQ:NWPX) Sets New 52-Week High on Earnings Beat

NWPX Infrastructure, Inc. (NASDAQ:NWPX)’s stock price reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $59.88 and last traded at $59.0620, with a volume of 3320 shares traded. The stock had previously closed at $55.68.

The industrial products company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.36. NWPX Infrastructure had a net margin of 7.04% and a return on equity of 9.71%. The company had revenue of $151.07 million for the quarter, compared to the consensus estimate of $132.01 million.

Analyst Upgrades and Downgrades

NWPX has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of NWPX Infrastructure in a research report on Wednesday, October 8th. DA Davidson set a $60.00 price target on NWPX Infrastructure in a research note on Monday, August 11th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $57.50.

Insiders Place Their Bets

In other NWPX Infrastructure news, CFO Aaron Wilkins sold 2,500 shares of NWPX Infrastructure stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $50.89, for a total transaction of $127,225.00. Following the transaction, the chief financial officer directly owned 27,262 shares of the company’s stock, valued at approximately $1,387,363.18. The trade was a 8.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Megan A. Kendrick sold 3,500 shares of NWPX Infrastructure stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $50.00, for a total value of $175,000.00. Following the transaction, the vice president directly owned 10,560 shares in the company, valued at $528,000. The trade was a 24.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 8,500 shares of company stock worth $433,715. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NWPX. CSM Advisors LLC acquired a new position in shares of NWPX Infrastructure in the 2nd quarter worth approximately $6,075,000. Russell Investments Group Ltd. lifted its holdings in NWPX Infrastructure by 258.7% in the first quarter. Russell Investments Group Ltd. now owns 96,863 shares of the industrial products company’s stock valued at $4,000,000 after buying an additional 69,856 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in NWPX Infrastructure in the second quarter valued at $2,092,000. Legal & General Group Plc lifted its holdings in NWPX Infrastructure by 14.4% in the second quarter. Legal & General Group Plc now owns 323,819 shares of the industrial products company’s stock valued at $13,280,000 after buying an additional 40,751 shares during the period. Finally, First Wilshire Securities Management Inc. lifted its holdings in NWPX Infrastructure by 14.2% in the first quarter. First Wilshire Securities Management Inc. now owns 325,602 shares of the industrial products company’s stock valued at $13,447,000 after buying an additional 40,448 shares during the period. Institutional investors and hedge funds own 80.63% of the company’s stock.

NWPX Infrastructure Price Performance

The company has a market capitalization of $544.94 million, a price-to-earnings ratio of 15.35, a P/E/G ratio of 1.64 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.81 and a current ratio of 3.95. The business has a 50 day moving average price of $52.54 and a 200-day moving average price of $45.53.

NWPX Infrastructure 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.