Meros Investment Management LP Takes Position in Perma-Pipe International Holdings, Inc. $PPIH

Meros Investment Management LP acquired a new stake in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 132,163 shares of the industrial products company’s stock, valued at approximately $3,598,798,000. Meros Investment Management LP owned 1.63% of Perma-Pipe International at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PPIH. Dimensional Fund Advisors LP raised its stake in Perma-Pipe International by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 478,988 shares of the industrial products company’s stock worth $11,222,000 after purchasing an additional 2,463 shares during the period. BlackRock Inc. acquired a new stake in shares of Perma-Pipe International during the 2nd quarter worth approximately $11,557,000. Vanguard Group Inc. increased its holdings in shares of Perma-Pipe International by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 350,705 shares of the industrial products company’s stock worth $8,217,000 after buying an additional 15,668 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Perma-Pipe International by 39.1% during the 1st quarter. Renaissance Technologies LLC now owns 209,093 shares of the industrial products company’s stock valued at $6,233,000 after buying an additional 58,800 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Perma-Pipe International by 122.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 154,784 shares of the industrial products company’s stock valued at $4,614,000 after buying an additional 85,218 shares during the period. 28.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Perma-Pipe International in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.00.

Perma-Pipe International Stock Up 0.2%

Perma-Pipe International stock opened at $26.63 on Wednesday. Perma-Pipe International Holdings, Inc. has a fifty-two week low of $21.96 and a fifty-two week high of $36.72. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.02 and a current ratio of 2.31. The firm has a 50 day moving average price of $26.06 and a 200 day moving average price of $29.35. The company has a market capitalization of $216.40 million, a PE ratio of 15.76 and a beta of 0.58.

Perma-Pipe International (NASDAQ:PPIH) last released its quarterly earnings results on Tuesday, June 9th. The industrial products company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.26). Perma-Pipe International had a return on equity of 15.92% and a net margin of 6.47%.The firm had revenue of $50.27 million for the quarter, compared to analysts’ expectations of $54.00 million.

Perma-Pipe International Company 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.