NWPX Infrastructure, Inc. (NASDAQ:NWPX) Sees Large Drop in Short Interest

NWPX Infrastructure, Inc. (NASDAQ:NWPX) was the target of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 95,672 shares, a decline of 24.9% from the December 15th total of 127,465 shares. Based on an average daily volume of 60,306 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.0% of the shares of the stock are sold short. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 60,306 shares, the days-to-cover ratio is currently 1.6 days.

NWPX Infrastructure Trading Down 0.2%

NWPX Infrastructure stock traded down $0.16 during trading hours on Friday, reaching $69.11. The stock had a trading volume of 78,305 shares, compared to its average volume of 60,020. The stock has a market cap of $664.15 million, a PE ratio of 18.78, a PEG ratio of 1.65 and a beta of 0.94. The company has a fifty day simple moving average of $61.45 and a 200-day simple moving average of $53.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.60 and a quick ratio of 2.62. NWPX Infrastructure has a 52 week low of $36.97 and a 52 week high of $70.30.

NWPX Infrastructure (NASDAQ:NWPX) last posted its earnings results on Wednesday, October 29th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.36. NWPX Infrastructure had a return on equity of 9.65% and a net margin of 7.04%.The company had revenue of $151.07 million for the quarter, compared to analysts’ expectations of $132.01 million. Analysts forecast that NWPX Infrastructure will post 3.32 EPS for the current fiscal year.

Insider Activity at NWPX Infrastructure

In related news, EVP Miles Brittain sold 4,000 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $56.41, for a total value of $225,640.00. Following the transaction, the executive vice president owned 25,725 shares of the company’s stock, valued at $1,451,147.25. This represents a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aaron Wilkins sold 5,009 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $59.90, for a total value of $300,039.10. Following the sale, the chief financial officer owned 19,753 shares in the company, valued at $1,183,204.70. The trade was a 20.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,001 shares of company stock worth $1,631,008 over the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NWPX Infrastructure by 2.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 575,365 shares of the industrial products company’s stock worth $30,453,000 after purchasing an additional 12,272 shares in the last quarter. Royce & Associates LP grew its holdings in shares of NWPX Infrastructure by 7.1% during the 3rd quarter. Royce & Associates LP now owns 537,188 shares of the industrial products company’s stock worth $28,433,000 after acquiring an additional 35,768 shares during the period. Legal & General Group Plc boosted its position in shares of NWPX Infrastructure by 14.4% during the second quarter. Legal & General Group Plc now owns 323,819 shares of the industrial products company’s stock valued at $13,280,000 after purchasing an additional 40,751 shares in the last quarter. American Century Companies Inc. grew its stake in NWPX Infrastructure by 2.6% in the second quarter. American Century Companies Inc. now owns 246,430 shares of the industrial products company’s stock worth $10,106,000 after purchasing an additional 6,258 shares during the period. Finally, Geode Capital Management LLC raised its holdings in NWPX Infrastructure by 4.9% in the second quarter. Geode Capital Management LLC now owns 240,631 shares of the industrial products company’s stock worth $9,870,000 after purchasing an additional 11,342 shares in the last quarter. 80.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Northland Capmk raised NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. Wall Street Zen upgraded shares of NWPX Infrastructure from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c+)” rating on shares of NWPX Infrastructure in a report on Wednesday, October 8th. Finally, DA Davidson increased their target price on shares of NWPX Infrastructure from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, NWPX Infrastructure has an average rating of “Moderate Buy” and an average target price of $70.00.

NWPX Infrastructure 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. Its products are also used for hydroelectric power systems, wastewater systems, seismic resiliency, and other applications.