Baird Financial Group Inc. Reduces Holdings in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)

Baird Financial Group Inc. trimmed its position in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIHGet Rating) by 33.6% in the 2nd quarter, Holdings Channel reports. The firm owned 98,294 shares of the industrial products company’s stock after selling 49,824 shares during the period. Baird Financial Group Inc.’s holdings in Perma-Pipe International were worth $885,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Cannell Capital LLC increased its position in shares of Perma-Pipe International by 64.4% during the first quarter. Cannell Capital LLC now owns 45,044 shares of the industrial products company’s stock worth $425,000 after purchasing an additional 17,645 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Perma-Pipe International by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 477,717 shares of the industrial products company’s stock valued at $4,505,000 after buying an additional 4,568 shares in the last quarter. Finally, Shufro Rose & Co. LLC purchased a new stake in Perma-Pipe International in the 1st quarter valued at $983,000. 23.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded Perma-Pipe International from a “c+” rating to a “b-” rating in a report on Friday, October 7th.

Perma-Pipe International Stock Down 1.9 %

Shares of NASDAQ:PPIH opened at $9.25 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.82 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average of $9.50 and a two-hundred day moving average of $9.98. The stock has a market cap of $74 million, a P/E ratio of 17.13 and a beta of 0.23. Perma-Pipe International Holdings, Inc. has a 52-week low of $7.05 and a 52-week high of $15.70.

Perma-Pipe International (NASDAQ:PPIHGet Rating) last issued its earnings results on Wednesday, September 7th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter. Perma-Pipe International had a return on equity of 8.35% and a net margin of 3.14%. The company had revenue of $37.00 million during the quarter.

Perma-Pipe International Company Profile

(Get Rating)

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers provides and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines.

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Institutional Ownership by Quarter for Perma-Pipe International (NASDAQ:PPIH)

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