Royce & Associates LP Boosts Position in Perma-Pipe International Holdings, Inc. $PPIH

Royce & Associates LP increased its holdings in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 62.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,253 shares of the industrial products company’s stock after purchasing an additional 57,655 shares during the quarter. Royce & Associates LP’s holdings in Perma-Pipe International were worth $4,531,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PPIH. Empowered Funds LLC lifted its stake in Perma-Pipe International by 8.8% during the first quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company’s stock worth $250,000 after purchasing an additional 1,626 shares during the last quarter. Jane Street Group LLC lifted its stake in Perma-Pipe International by 55.2% during the first quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 6,583 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in Perma-Pipe International during the second quarter worth approximately $283,000. Bank of America Corp DE lifted its stake in Perma-Pipe International by 1,730.8% during the second quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Perma-Pipe International by 4.4% during the second quarter. Bridgeway Capital Management LLC now owns 64,422 shares of the industrial products company’s stock worth $1,473,000 after purchasing an additional 2,711 shares during the last quarter. Hedge funds and other institutional investors own 28.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings cut Perma-Pipe International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 19th. Wall Street Zen cut Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research note on Saturday, April 18th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.00.

Perma-Pipe International Trading Down 3.7%

PPIH opened at $30.69 on Friday. The firm has a market cap of $249.20 million, a price-to-earnings ratio of 14.75 and a beta of 0.58. Perma-Pipe International Holdings, Inc. has a 52 week low of $13.20 and a 52 week high of $36.72. The business’s 50 day moving average is $31.61 and its two-hundred day moving average is $30.54. The company has a quick ratio of 1.61, a current ratio of 1.84 and a debt-to-equity ratio of 0.05.

Perma-Pipe International (NASDAQ:PPIH) last released its quarterly earnings results on Thursday, April 16th. The industrial products company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.44 by $0.16. The company had revenue of $55.13 million for the quarter, compared to analyst estimates of $55.00 million. Perma-Pipe International had a return on equity of 20.37% and a net margin of 8.08%.

About Perma-Pipe International

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.