Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 19,838 shares of the industrial products company’s stock, valued at approximately $297,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PPIH. Geode Capital Management LLC boosted its holdings in Perma-Pipe International by 9.7% in the third quarter. Geode Capital Management LLC now owns 82,269 shares of the industrial products company’s stock valued at $1,068,000 after acquiring an additional 7,273 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Perma-Pipe International in the 4th quarter valued at about $477,000. Empowered Funds LLC acquired a new stake in shares of Perma-Pipe International during the 4th quarter worth approximately $276,000. Ritholtz Wealth Management bought a new stake in shares of Perma-Pipe International during the fourth quarter worth approximately $173,000. Finally, State Street Corp acquired a new position in Perma-Pipe International in the third quarter valued at approximately $140,000. 28.43% of the stock is owned by institutional investors and hedge funds.

Perma-Pipe International Price Performance

Shares of PPIH stock opened at $13.76 on Monday. The firm’s 50 day moving average price is $14.42 and its two-hundred day moving average price is $14.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.64 and a current ratio of 1.94. Perma-Pipe International Holdings, Inc. has a 52-week low of $6.83 and a 52-week high of $17.58. The stock has a market cap of $109.85 million, a PE ratio of 6.98 and a beta of 0.33.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings results on Monday, December 23rd. The industrial products company reported $0.31 earnings per share (EPS) for the quarter. Perma-Pipe International had a return on equity of 23.41% and a net margin of 10.33%.

Perma-Pipe International Company Profile

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.