Victory Capital Management Inc. Boosts Stake in Northwest Pipe (NASDAQ:NWPX)

Victory Capital Management Inc. boosted its position in Northwest Pipe (NASDAQ:NWPX) by 19.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,686 shares of the industrial products company’s stock after buying an additional 8,576 shares during the period. Victory Capital Management Inc.’s holdings in Northwest Pipe were worth $2,378,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Janney Montgomery Scott LLC raised its position in Northwest Pipe by 3.1% during the third quarter. Janney Montgomery Scott LLC now owns 18,147 shares of the industrial products company’s stock valued at $819,000 after acquiring an additional 549 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Northwest Pipe by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,309 shares of the industrial products company’s stock valued at $462,000 after purchasing an additional 598 shares during the period. Covestor Ltd grew its position in Northwest Pipe by 1,857.6% during the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after buying an additional 613 shares during the period. Ellsworth Advisors LLC grew its position in Northwest Pipe by 4.2% during the third quarter. Ellsworth Advisors LLC now owns 16,207 shares of the industrial products company’s stock valued at $731,000 after buying an additional 647 shares during the period. Finally, Foundry Partners LLC raised its position in shares of 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 during the period. 80.63% of the stock is owned by hedge funds and other institutional investors.

Northwest Pipe Price Performance

Shares of Northwest Pipe stock opened at $56.29 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 2.27. The business has a 50 day simple moving average of $47.00 and a two-hundred day simple moving average of $40.68. The stock has a market capitalization of $558.40 million, a P/E ratio of 19.15, a PEG ratio of 3.33 and a beta of 0.98. Northwest Pipe has a 12 month low of $25.81 and a 12 month high of $56.37.

Analysts Set New Price Targets

NWPX has been the subject of several recent analyst reports. Northland Capmk lowered Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. StockNews.com upgraded Northwest Pipe from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. Finally, Northland Securities lowered Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 target price on the stock. in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Insider Activity at Northwest Pipe

In related news, EVP Miles Brittain sold 4,500 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 25,858 shares of the company’s stock, valued at approximately $1,083,450.20. This trade represents a 14.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction that occurred 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 transaction, the vice president now owns 10,725 shares in the company, valued at approximately $454,418.25. The trade was a 8.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,800 shares of company stock valued at $291,070. 3.30% of the stock is owned by insiders.

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.