Bank of New York Mellon Corp Acquires Shares of 49,542 NWPX Infrastructure, Inc. $NWPX

Key Points

• Bank of New York Mellon acquired 49,542 shares of NWPX Infrastructure worth approximately $7.4 million, joining several institutional investors that increased their positions. Institutional investors collectively own 80.63% of the company.
• NWPX reported quarterly earnings of $1.62 per share, exceeding the $1.33 analyst consensus, while revenue of $159.48 million also topped estimates. Analysts expect full-year earnings of $5.43 per share.
• The stock traded at $110.34, near the analyst consensus price target of $110.00; coverage remains positive overall with a “Moderate Buy” consensus, although company insiders have sold 16,077 shares worth about $1.87 million over the past three months.

Bank of New York Mellon Corp bought a new stake in NWPX Infrastructure, Inc. (NASDAQ:NWPX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 49,542 shares of the industrial products company's stock, valued at approximately $7,428,000. Bank of New York Mellon Corp owned about 0.51% of NWPX Infrastructure at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in NWPX Infrastructure by 274.8% in the first quarter. AQR Capital Management LLC now owns 28,887 shares of the industrial products company's stock valued at $1,193,000 after acquiring an additional 21,179 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of NWPX Infrastructure during the first quarter worth about $224,000. Goldman Sachs Group Inc. lifted its holdings in shares of NWPX Infrastructure by 17.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 44,427 shares of the industrial products company's stock valued at $1,835,000 after purchasing an additional 6,510 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of NWPX Infrastructure by 5.6% in the 1st quarter. Empowered Funds LLC now owns 48,369 shares of the industrial products company's stock valued at $1,998,000 after purchasing an additional 2,547 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of NWPX Infrastructure by 3.7% in the 2nd quarter. First Trust Advisors LP now owns 31,897 shares of the industrial products company's stock valued at $1,308,000 after purchasing an additional 1,127 shares during the period. Hedge funds and other institutional investors own 80.63% of the company's stock.

NWPX Infrastructure Trading Up 0.4%

NASDAQ NWPX opened at $110.34 on Friday. 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 stock has a market capitalization of $1.06 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.84 and a beta of 1.09. NWPX Infrastructure, Inc. has a 52-week low of $49.25 and a 52-week high of $152.03. The firm has a 50-day moving average price of $125.43 and a 200 day moving average price of $106.66.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.29. NWPX Infrastructure had a return on equity of 12.22% and a net margin of 8.49%.The company had revenue of $159.48 million for the quarter, compared to analyst estimates of $154.70 million. Equities research analysts expect that NWPX Infrastructure, Inc. will post 5.43 EPS for the current year.

Insiders Place Their Bets

In other NWPX Infrastructure news, Director Keith R. Larson sold 1,250 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $115.86, for a total transaction of $144,825.00. Following the sale, the director directly owned 21,133 shares in the company, valued at approximately $2,448,469.38. The trade was a 5.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aaron Wilkins sold 428 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $120.00, for a total transaction of $51,360.00. Following the transaction, the chief financial officer directly owned 25,898 shares in the company, valued at approximately $3,107,760. This trade represents 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. Over the last three months, insiders have sold 16,077 shares of company stock worth $1,866,289. 3.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

NWPX Infrastructure 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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