Royce & Associates LP Buys Shares of 91,598 Perma-Pipe International Holdings, Inc. $PPIH

Royce & Associates LP purchased a new stake in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 91,598 shares of the industrial products company’s stock, valued at approximately $2,146,000. Royce & Associates LP owned about 1.13% of Perma-Pipe International at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in Perma-Pipe International by 1,730.8% in the 2nd quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 1,125 shares during the period. Empowered Funds LLC increased its stake in shares of Perma-Pipe International by 8.8% in the first quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company’s stock worth $250,000 after purchasing an additional 1,626 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Perma-Pipe International by 4.4% during the 2nd quarter. Bridgeway Capital Management LLC now owns 64,422 shares of the industrial products company’s stock valued at $1,473,000 after buying an additional 2,711 shares in the last quarter. U S Global Investors Inc. boosted its holdings 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 buying an additional 4,000 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Perma-Pipe International by 32.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,225 shares of the industrial products company’s stock valued at $531,000 after buying an additional 5,696 shares in the last quarter. Hedge funds and other institutional investors own 28.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PPIH shares. Wall Street Zen raised shares of Perma-Pipe International from a “hold” rating to a “strong-buy” rating in a report on Saturday, December 13th. Weiss Ratings raised Perma-Pipe International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Finally, Loop Capital set a $36.00 target price on Perma-Pipe International in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $36.00.

Perma-Pipe International Stock Down 1.7%

Shares of NASDAQ PPIH opened at $31.00 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.53 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $31.54 and a 200-day moving average of $28.82. The firm has a market capitalization of $250.79 million, a price-to-earnings ratio of 18.24 and a beta of 0.49. Perma-Pipe International Holdings, Inc. has a 12 month low of $8.81 and a 12 month high of $36.48.

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

Perma-Pipe International Profile

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.