Ellsworth Advisors LLC Invests $581,000 in Perma-Pipe International Holdings, Inc. $PPIH

Key Points

• Ellsworth Advisors LLC acquired 46,719 shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH), valuing their investment at approximately $581,000.
• Raymond James Financial Inc. significantly increased its stake in Perma-Pipe International by 1,960.8%, now holding 657,501 shares worth $8,173,000.
• Perma-Pipe International's shares received a boost as Wall Street Zen upgraded its rating from "buy" to "strong-buy" on June 22nd.

Ellsworth Advisors LLC purchased a new position in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 46,719 shares of the industrial products company's stock, valued at approximately $581,000. Ellsworth Advisors LLC owned approximately 0.59% of Perma-Pipe International as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PPIH. Barclays PLC purchased a new position in shares of Perma-Pipe International in the fourth quarter worth about $36,000. Jane Street Group LLC purchased a new stake in Perma-Pipe International in the fourth quarter valued at $178,000. Citadel Advisors LLC boosted its holdings in Perma-Pipe International by 116.2% in the fourth quarter. Citadel Advisors LLC now owns 23,886 shares of the industrial products company's stock valued at $357,000 after purchasing an additional 12,836 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Perma-Pipe International during the fourth quarter worth about $113,000. Finally, State of Wyoming acquired a new stake in Perma-Pipe International during the fourth quarter worth about $77,000. Hedge funds and other institutional investors own 28.43% of the company's stock.

Perma-Pipe International Stock Up 3.1%

NASDAQ:PPIH traded up $0.71 during mid-day trading on Wednesday, hitting $23.44. The stock had a trading volume of 130,643 shares, compared to its average volume of 59,272. The stock has a 50-day simple moving average of $26.71 and a two-hundred day simple moving average of $18.90. The company has a market capitalization of $187.04 million, a PE ratio of 18.83 and a beta of 0.54. Perma-Pipe International Holdings, Inc. has a twelve month low of $8.81 and a twelve month high of $33.09. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last issued its quarterly earnings results on Monday, September 15th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter. Perma-Pipe International had a return on equity of 14.22% and a net margin of 5.55%.The firm had revenue of $47.90 million for the quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Perma-Pipe International from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 22nd.

Perma-Pipe International Profile

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. It offers insulated and jacketed district heating and cooling piping systems for energy distribution from central energy plants to various locations; and primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, as well as engages in the coating and insulation of oil and gas gathering and transmission pipelines.