Northwest Pipe (NASDAQ:NWPX) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $22.05 and last traded at $22.00, with a volume of 7795 shares. The stock had previously closed at $19.57.

A number of research analysts have weighed in on NWPX shares. ValuEngine cut shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Zacks Investment Research raised shares of Northwest Pipe from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 4th.

The stock has a market cap of $190.51 million, a price-to-earnings ratio of -35.88 and a beta of 0.98.

In other Northwest Pipe news, Director Michelle Galanter Applebaum purchased 3,604 shares of Northwest Pipe stock in a transaction on Thursday, September 6th. The shares were purchased at an average cost of $17.97 per share, with a total value of $64,763.88. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $359,400. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. NJ State Employees Deferred Compensation Plan lifted its position in Northwest Pipe by 31.6% during the second quarter. NJ State Employees Deferred Compensation Plan now owns 25,000 shares of the industrial products company’s stock valued at $484,000 after buying an additional 6,000 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Northwest Pipe by 161.3% during the second quarter. Advisors Asset Management Inc. now owns 26,776 shares of the industrial products company’s stock valued at $519,000 after buying an additional 16,529 shares in the last quarter. Quantum Capital Management lifted its position in Northwest Pipe by 5.3% during the second quarter. Quantum Capital Management now owns 102,614 shares of the industrial products company’s stock valued at $1,988,000 after buying an additional 5,208 shares in the last quarter. Foundry Partners LLC lifted its position in Northwest Pipe by 2.5% during the second quarter. Foundry Partners LLC now owns 274,325 shares of the industrial products company’s stock valued at $5,314,000 after buying an additional 6,600 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Northwest Pipe by 6.1% during the second quarter. BlackRock Inc. now owns 672,717 shares of the industrial products company’s stock valued at $13,031,000 after purchasing an additional 38,719 shares during the period. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

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Northwest Pipe Company Profile (NASDAQ:NWPX)

Northwest Pipe Company manufactures engineered steel pipe water systems in North America. It produces large-diameter, high-pressure, and engineered welded steel pipeline systems for use in drinking water infrastructure; and pipes for piling and hydroelectric projects, wastewater treatment plants, and other applications, as well as for industrial plant piping systems and structural applications.

Further Reading: Bear Market

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