Magnetar Financial LLC Makes New $220,000 Investment in NWPX Infrastructure, Inc. $NWPX

Key Points

• Magnetar Financial LLC acquired a new stake in NWPX Infrastructure, purchasing 5,318 shares valued at approximately $220,000 in the 1st quarter, representing about 0.05% ownership of the company.
• Wall Street analysts have a consensus rating of "Hold" on NWPX Infrastructure, with an average price target of $57.50, after DA Davidson set a price objective of $60.00.
• NWPX Infrastructure recently reported earnings of $0.91 per share for the past quarter, surpassing the analyst estimates, with revenues reaching $133.18 million.

Magnetar Financial LLC purchased a new stake in NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,318 shares of the industrial products company's stock, valued at approximately $220,000. Magnetar Financial LLC owned approximately 0.05% of NWPX Infrastructure as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in NWPX Infrastructure in the fourth quarter valued at approximately $322,000. Barclays PLC raised its stake in NWPX Infrastructure by 13.0% in the fourth quarter. Barclays PLC now owns 14,695 shares of the industrial products company's stock valued at $709,000 after buying an additional 1,694 shares during the period. Tower Research Capital LLC TRC raised its stake in NWPX Infrastructure by 33.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the industrial products company's stock valued at $62,000 after buying an additional 319 shares during the period. Price T Rowe Associates Inc. MD raised its stake in NWPX Infrastructure by 16.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,483 shares of the industrial products company's stock valued at $555,000 after buying an additional 1,626 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in NWPX Infrastructure in the fourth quarter valued at approximately $30,000. 80.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson set a $60.00 price objective on NWPX Infrastructure in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, NWPX Infrastructure currently has a consensus rating of "Hold" and an average target price of $57.50.

NWPX Infrastructure Price Performance

Shares of NWPX Infrastructure stock traded up $0.08 on Monday, reaching $52.24. 5,608 shares of the stock were exchanged, compared to its average volume of 68,862. The firm's 50 day moving average is $46.12 and its 200-day moving average is $42.78. NWPX Infrastructure, Inc. has a one year low of $36.97 and a one year high of $57.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.81 and a current ratio of 3.95. The firm has a market cap of $504.12 million, a PE ratio of 15.69, a P/E/G ratio of 1.54 and a beta of 0.91.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.19. NWPX Infrastructure had a net margin of 6.69% and a return on equity of 8.93%. The company had revenue of $133.18 million for the quarter, compared to analyst estimates of $120.93 million. As a group, analysts anticipate that NWPX Infrastructure, Inc. will post 3.32 EPS for the current fiscal year.

Insider Buying and Selling at NWPX Infrastructure

In related news, VP Megan A. Kendrick sold 3,500 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $50.00, for a total value of $175,000.00. Following the sale, the vice president directly owned 10,560 shares in the company, valued at $528,000. This represents a 24.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Aaron Wilkins sold 2,000 shares of NWPX Infrastructure stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $52.24, for a total value of $104,480.00. Following the completion of the sale, the chief financial officer owned 24,762 shares of the company's stock, valued at approximately $1,293,566.88. The trade was a 7.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,500 shares of company stock worth $433,715. 3.20% of the stock is currently owned by insiders.

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.