Insider Selling: Northwest Pipe (NASDAQ:NWPX) CEO Sells 1,552 Shares of Stock

Northwest Pipe (NASDAQ:NWPXGet Rating) CEO Scott J. Montross sold 1,552 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $34.12, for a total value of $52,954.24. Following the sale, the chief executive officer now owns 88,739 shares of the company’s stock, valued at approximately $3,027,774.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NASDAQ NWPX traded up $0.10 during mid-day trading on Monday, reaching $34.20. The company had a trading volume of 39,488 shares, compared to its average volume of 53,371. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.46. Northwest Pipe has a one year low of $23.11 and a one year high of $34.70. The firm has a market cap of $339.13 million, a price-to-earnings ratio of 26.46 and a beta of 0.73. The business’s 50-day simple moving average is $28.56 and its 200 day simple moving average is $29.08.

Northwest Pipe (NASDAQ:NWPXGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. Northwest Pipe had a net margin of 3.49% and a return on equity of 6.53%. The firm had revenue of $109.33 million for the quarter, compared to the consensus estimate of $100.00 million. On average, sell-side analysts anticipate that Northwest Pipe will post 2.77 EPS for the current year.

A number of research analysts have commented on NWPX shares. Zacks Investment Research raised Northwest Pipe from a “sell” rating to a “hold” rating in a report on Tuesday, March 22nd. TheStreet upgraded shares of Northwest Pipe from a “c+” rating to a “b” rating in a research note on Tuesday, May 10th. StockNews.com raised shares of Northwest Pipe from a “sell” rating to a “hold” rating in a report on Saturday, March 26th. Finally, DA Davidson reiterated a “buy” rating on shares of Northwest Pipe in a research note on Thursday, March 17th.

Several hedge funds and other institutional investors have recently bought and sold shares of NWPX. First Trust Advisors LP acquired a new position in Northwest Pipe during the first quarter valued at approximately $408,000. Morgan Stanley raised its holdings in shares of Northwest Pipe by 394.0% during the 2nd quarter. Morgan Stanley now owns 31,779 shares of the industrial products company’s stock worth $897,000 after buying an additional 25,346 shares in the last quarter. BlackRock Inc. lifted its position in shares of Northwest Pipe by 5.1% during the 3rd quarter. BlackRock Inc. now owns 949,714 shares of the industrial products company’s stock worth $22,508,000 after buying an additional 45,882 shares during the last quarter. Barclays PLC boosted its stake in Northwest Pipe by 183.0% in the third quarter. Barclays PLC now owns 3,956 shares of the industrial products company’s stock valued at $94,000 after buying an additional 2,558 shares in the last quarter. Finally, Citigroup Inc. grew its position in Northwest Pipe by 134.5% in the third quarter. Citigroup Inc. now owns 1,128 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 647 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

About Northwest Pipe (Get Rating)

Northwest Pipe Company, together with its subsidiaries, manufactures and supplies 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, high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.

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