902,793 Shares in NWPX Infrastructure, Inc. $NWPX Acquired by BlackRock Inc.

BlackRock Inc. purchased a new position in NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 902,793 shares of the industrial products company's stock, valued at approximately $135,365,000. BlackRock Inc. owned 9.37% of NWPX Infrastructure at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NWPX. Simplex Trading LLC lifted its stake in shares of NWPX Infrastructure by 193.9% during the 4th quarter. Simplex Trading LLC now owns 485 shares of the industrial products company's stock valued at $30,000 after buying an additional 320 shares in the last quarter. Wexford Capital LP purchased a new stake in NWPX Infrastructure in the 3rd quarter worth $29,000. State of Wyoming purchased a new position in shares of NWPX Infrastructure in the second quarter valued at about $98,000. Central Pacific Bank Trust Division purchased a new position in shares of NWPX Infrastructure in the second quarter valued at about $156,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of NWPX Infrastructure in the fourth quarter worth about $71,000. 80.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NWPX has been the subject of several research analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of NWPX Infrastructure in a research report on Wednesday, August 5th. Wall Street Zen downgraded NWPX Infrastructure from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 13th. Finally, JPMorgan Chase & Co. began coverage on NWPX Infrastructure in a research note on Wednesday, June 10th. They issued a "neutral" rating and a $130.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, NWPX Infrastructure currently has an average rating of "Moderate Buy" and an average price target of $110.00.

Insider Buying and Selling

In other NWPX Infrastructure news, EVP Michael Wray sold 4,500 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $110.94, for a total transaction of $499,230.00. Following the sale, the executive vice president directly owned 23,886 shares of the company's stock, valued at $2,649,912.84. The trade was a 15.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aaron Wilkins sold 428 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $120.00, for a total value of $51,360.00. Following the sale, the chief financial officer directly owned 25,898 shares in the company, valued at $3,107,760. The trade was a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 13,678 shares of company stock worth $1,601,640. Insiders own 3.30% of the company's stock.

NWPX Infrastructure Price Performance

NWPX Infrastructure stock opened at $112.03 on Friday. NWPX Infrastructure, Inc. has a 52-week low of $49.25 and a 52-week high of $152.03. The company has a quick ratio of 1.94, a current ratio of 2.71 and a debt-to-equity ratio of 0.02. The firm's fifty day moving average is $128.04 and its 200 day moving average is $105.46. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 1.91 and a beta of 1.09.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.29. The business had revenue of $159.48 million during the quarter, compared to analysts' expectations of $154.70 million. NWPX Infrastructure had a net margin of 8.49% and a return on equity of 12.22%. Sell-side analysts forecast that NWPX Infrastructure, Inc. will post 5.43 EPS for the current fiscal year.

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.

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