18,220 Shares in Perma-Pipe International Holdings, Inc. $PPIH Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management purchased a new position in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 18,220 shares of the industrial products company’s stock, valued at approximately $427,000. Ritholtz Wealth Management owned approximately 0.23% of Perma-Pipe International at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PPIH. Bank of America Corp DE lifted its holdings in shares of Perma-Pipe International by 1,730.8% in the second quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock worth $27,000 after buying an additional 1,125 shares in the last quarter. U S Global Investors Inc. lifted its stake in Perma-Pipe International by 400.0% in the 3rd quarter. U S Global Investors Inc. now owns 5,000 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 4,000 shares in the last quarter. IMS Capital Management bought a new position in shares of Perma-Pipe International during the 2nd quarter valued at about $201,000. Corsair Capital Management L.P. purchased a new stake in shares of Perma-Pipe International during the 2nd quarter worth approximately $214,000. Finally, Calamos Advisors LLC purchased a new stake in shares of Perma-Pipe International during the 3rd quarter worth approximately $223,000. 28.43% of the stock is owned by hedge funds and other institutional investors.

Perma-Pipe International Trading Up 0.4%

PPIH opened at $30.29 on Thursday. Perma-Pipe International Holdings, Inc. has a one year low of $8.81 and a one year high of $36.48. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.53 and a current ratio of 1.76. The stock has a market cap of $245.05 million, a price-to-earnings ratio of 17.82 and a beta of 0.52. The stock’s 50 day moving average price is $29.37 and its 200-day moving average price is $27.28.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings data on Friday, December 12th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter. Perma-Pipe International had a return on equity of 18.12% and a net margin of 6.91%.The company had revenue of $61.15 million during the quarter.

Analyst Ratings Changes

PPIH has been the subject of a number of recent research reports. Loop Capital set a $36.00 price objective on shares of Perma-Pipe International in a research note on Tuesday, December 16th. Wall Street Zen raised Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings lowered Perma-Pipe International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.00.

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.