JPMorgan Chase & Co. Increases Stock Holdings in Perma-Pipe International Holdings, Inc. $PPIH

JPMorgan Chase & Co. increased its holdings in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 1,595.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,419 shares of the industrial products company’s stock after purchasing an additional 28,625 shares during the period. JPMorgan Chase & Co. owned 0.38% of Perma-Pipe International worth $713,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Qube Research & Technologies Ltd purchased a new stake in shares of Perma-Pipe International in the third quarter valued at $208,000. Bank of America Corp DE boosted its holdings in Perma-Pipe International by 275.8% in the third quarter. Bank of America Corp DE now owns 4,472 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 3,282 shares during the last quarter. Cannell Capital LLC boosted its holdings in Perma-Pipe International by 29.0% in the third quarter. Cannell Capital LLC now owns 121,170 shares of the industrial products company’s stock valued at $2,839,000 after acquiring an additional 27,259 shares during the last quarter. Wolverine Trading LLC acquired a new position in Perma-Pipe International in the third quarter valued at $354,000. Finally, UBS Group AG boosted its holdings in Perma-Pipe International by 7,873.9% in the third quarter. UBS Group AG now owns 26,234 shares of the industrial products company’s stock valued at $615,000 after acquiring an additional 25,905 shares during the last quarter. Hedge funds and other institutional investors own 28.43% of the company’s stock.

Analyst Upgrades and Downgrades

PPIH has been the topic of a number of research analyst reports. Weiss Ratings upgraded Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Loop Capital set a $36.00 target price on Perma-Pipe International in a report on Tuesday, December 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Perma-Pipe International presently has an average rating of “Buy” and a consensus target price of $36.00.

Perma-Pipe International Price Performance

Shares of Perma-Pipe International stock opened at $33.55 on Monday. Perma-Pipe International Holdings, Inc. has a twelve month low of $10.32 and a twelve month high of $36.48. The stock has a market capitalization of $271.42 million, a P/E ratio of 19.74 and a beta of 0.57. The company has a current ratio of 1.76, a quick ratio of 1.53 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average price is $30.89 and its 200 day moving average price is $29.10.

Perma-Pipe International Profile

Perma-Pipe International Holdings Ltd. is a publicly traded company on the NASDAQ under the symbol PPIH that specializes in the design, manufacture and installation of prefabricated piping systems. Its core business revolves around factory-assembled thermal insulation and corrosion protection solutions, including pre-insulated pipe, heat tracing, field-applied jackets and specialty spool pieces. These engineered systems are custom-built to industry specifications and are used to maintain temperatures, control heat loss and extend the life of critical piping infrastructure.

The company’s products and services serve a diverse range of end markets, with primary focus on oil and gas production, petrochemical processing, power generation, district energy, and industrial facilities.