BNP Paribas Financial Markets Grows Stock Position in Northwest Pipe (NASDAQ:NWPX)

BNP Paribas Financial Markets lifted its stake in Northwest Pipe (NASDAQ:NWPX) by 241.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,707 shares of the industrial products company’s stock after purchasing an additional 5,451 shares during the period. BNP Paribas Financial Markets’ holdings in Northwest Pipe were worth $348,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NWPX. Covestor Ltd boosted its holdings in Northwest Pipe by 1,857.6% in the third quarter. Covestor Ltd now owns 646 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 613 shares during the period. Quantbot Technologies LP purchased a new position in Northwest Pipe in the third quarter valued at $67,000. SG Americas Securities LLC purchased a new position in Northwest Pipe in the third quarter valued at $165,000. Semanteon Capital Management LP purchased a new position in Northwest Pipe in the third quarter valued at $230,000. Finally, Summit Global Investments purchased a new position in Northwest Pipe in the third quarter valued at $262,000. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

Northwest Pipe Stock Down 1.4 %

Northwest Pipe stock opened at $52.84 on Friday. Northwest Pipe has a 1-year low of $27.89 and a 1-year high of $57.76. 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 stock has a market cap of $524.17 million, a PE ratio of 17.97, a P/E/G ratio of 3.25 and a beta of 1.02. The stock’s fifty day moving average is $50.48 and its two-hundred day moving average is $42.71.

Insider Transactions at Northwest Pipe

In other news, VP Megan A. Kendrick sold 1,000 shares of Northwest Pipe stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $44.22, for a total transaction of $44,220.00. Following the sale, the vice president now owns 9,725 shares in the company, valued at approximately $430,039.50. The trade was a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 2,300 shares of company stock worth $102,520. Corporate insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

NWPX has been the subject of a number of recent research reports. Northland Securities lowered Northwest Pipe from an “outperform” rating to a “market perform” rating and set a $50.00 target price for the company. in a report on Friday, November 1st. StockNews.com cut Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Northland Capmk cut Northwest Pipe from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.00.

Northwest Pipe 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.