Short Interest in NWPX Infrastructure, Inc. (NASDAQ:NWPX) Grows By 24.6%

NWPX Infrastructure, Inc. (NASDAQ:NWPX) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 149,704 shares, an increase of 24.6% from the February 26th total of 120,109 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average daily volume of 112,414 shares, the short-interest ratio is presently 1.3 days.

Insider Buying and Selling

In other NWPX Infrastructure news, VP Megan A. Kendrick sold 4,500 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $80.59, for a total value of $362,655.00. Following the sale, the vice president owned 6,996 shares in the company, valued at approximately $563,807.64. The trade was a 39.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Amanda Julian sold 3,473 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $71.98, for a total value of $249,986.54. Following the completion of the sale, the director directly owned 10,417 shares of the company’s stock, valued at approximately $749,815.66. The trade was a 25.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 20,273 shares of company stock valued at $1,490,019 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NWPX Infrastructure

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SummerHaven Investment Management LLC bought a new stake in shares of NWPX Infrastructure during the third quarter valued at approximately $1,053,000. LSV Asset Management raised its position in shares of NWPX Infrastructure by 166.9% during the third quarter. LSV Asset Management now owns 69,400 shares of the industrial products company’s stock worth $3,673,000 after purchasing an additional 43,398 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of NWPX Infrastructure by 67.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 85,527 shares of the industrial products company’s stock worth $4,527,000 after purchasing an additional 34,526 shares in the last quarter. Geode Capital Management LLC grew its position in NWPX Infrastructure by 4.9% in the 2nd quarter. Geode Capital Management LLC now owns 240,631 shares of the industrial products company’s stock valued at $9,870,000 after purchasing an additional 11,342 shares during the period. Finally, Advisors Asset Management Inc. grew its position in NWPX Infrastructure by 3.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 33,819 shares of the industrial products company’s stock valued at $1,387,000 after purchasing an additional 1,040 shares during the period. Institutional investors own 80.63% of the company’s stock.

NWPX Infrastructure Trading Down 1.0%

Shares of NWPX stock traded down $0.78 during trading hours on Monday, hitting $75.74. 139,969 shares of the company were exchanged, compared to its average volume of 102,564. The company has a 50 day simple moving average of $73.35 and a two-hundred day simple moving average of $63.40. The firm has a market cap of $724.83 million, a P/E ratio of 21.10, a P/E/G ratio of 1.64 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.66 and a current ratio of 3.78. NWPX Infrastructure has a fifty-two week low of $36.97 and a fifty-two week high of $83.12.

NWPX Infrastructure (NASDAQ:NWPX) last released its earnings results on Wednesday, February 25th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.31. The company had revenue of $125.64 million for the quarter, compared to the consensus estimate of $122.00 million. NWPX Infrastructure had a net margin of 6.73% and a return on equity of 9.27%. Equities analysts anticipate that NWPX Infrastructure will post 3.32 EPS for the current year.

Wall Street Analyst Weigh In

NWPX has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of NWPX Infrastructure from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Weiss Ratings upgraded shares of NWPX Infrastructure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 24th. DA Davidson lifted their target price on shares of NWPX Infrastructure from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen lowered shares of NWPX Infrastructure from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, NWPX Infrastructure has an average rating of “Strong Buy” and an average target price of $90.00.

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.