Zacks Investment Management Acquires 7,036 Shares of Northwest Pipe (NASDAQ:NWPX)

Zacks Investment Management raised its stake in Northwest Pipe (NASDAQ:NWPX) by 19.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,641 shares of the industrial products company’s stock after acquiring an additional 7,036 shares during the quarter. Zacks Investment Management’s holdings in Northwest Pipe were worth $2,058,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. AlphaQuest LLC acquired a new stake in Northwest Pipe in the fourth quarter valued at approximately $31,000. Steward Partners Investment Advisory LLC bought a new position in shares of Northwest Pipe in the 4th quarter valued at $72,000. R Squared Ltd acquired a new stake in shares of Northwest Pipe during the 4th quarter valued at $78,000. Quantbot Technologies LP grew its position in Northwest Pipe by 40.3% during the 4th quarter. Quantbot Technologies LP now owns 2,093 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 601 shares during the last quarter. Finally, Synergy Asset Management LLC acquired a new position in Northwest Pipe in the 4th quarter worth about $121,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NWPX. Northland Securities lifted their target price on shares of Northwest Pipe from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Sidoti raised shares of Northwest Pipe to a “hold” rating in a research note on Tuesday, February 25th. Finally, StockNews.com cut shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th.

Northwest Pipe Stock Performance

Shares of Northwest Pipe stock opened at $41.42 on Friday. The business has a 50-day simple moving average of $43.55 and a 200 day simple moving average of $47.56. Northwest Pipe has a one year low of $31.16 and a one 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 firm has a market capitalization of $411.51 million, a price-to-earnings ratio of 14.09, a PEG ratio of 2.85 and a beta of 0.94.

Insider Buying and Selling

In other news, CFO Aaron Wilkins sold 1,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $44.00, for a total value of $44,000.00. Following the completion of the sale, the chief financial officer now owns 23,467 shares in the company, valued at $1,032,548. This represents a 4.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.30% of the stock is currently owned by company insiders.

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.