Meros Investment Management LP purchased a new stake in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 132,163 shares of the industrial products company's stock, valued at approximately $3,598,798. Meros Investment Management LP owned approximately 1.63% of Perma-Pipe International as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ritholtz Wealth Management lifted its position in Perma-Pipe International by 3.4% during the 1st quarter. Ritholtz Wealth Management now owns 19,554 shares of the industrial products company's stock worth $583,000 after acquiring an additional 647 shares during the period. State of Wyoming raised its holdings in shares of Perma-Pipe International by 59.7% during the 4th quarter. State of Wyoming now owns 2,102 shares of the industrial products company's stock valued at $64,000 after purchasing an additional 786 shares in the last quarter. Bank of America Corp DE boosted its stake in Perma-Pipe International by 1,730.8% during the second quarter. Bank of America Corp DE now owns 1,190 shares of the industrial products company's stock worth $27,000 after buying an additional 1,125 shares in the last quarter. Global Trust Asset Management LLC bought a new position in Perma-Pipe International in the first quarter valued at about $44,000. Finally, Empowered Funds LLC increased its holdings in Perma-Pipe International by 8.8% during the 1st quarter. Empowered Funds LLC now owns 20,101 shares of the industrial products company's stock worth $250,000 after purchasing an additional 1,626 shares in the last quarter. Institutional investors and hedge funds own 28.43% of the company's stock.
Perma-Pipe International Stock Performance
Perma-Pipe International stock traded down $0.49 during mid-day trading on Friday, hitting $26.73. The company had a trading volume of 50,109 shares, compared to its average volume of 101,374. Perma-Pipe International Holdings, Inc. has a 12-month low of $21.96 and a 12-month high of $36.72. The company has a market capitalization of $217.31 million, a price-to-earnings ratio of 15.82 and a beta of 0.58. The company has a current ratio of 2.31, a quick ratio of 2.02 and a debt-to-equity ratio of 0.21. The company's fifty day moving average is $26.02 and its 200-day moving average is $29.31.
Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last issued its quarterly earnings results on Tuesday, June 9th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.26). Perma-Pipe International had a net margin of 6.47% and a return on equity of 15.92%. The company had revenue of $50.27 million during the quarter, compared to analyst estimates of $54.00 million.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Perma-Pipe International in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Perma-Pipe International has a consensus rating of "Hold" and a consensus price target of $36.00.
View Our Latest Stock Analysis on Perma-Pipe International
Perma-Pipe International Profile
(
Free Report)
Perma-Pipe International Holdings Ltd. is a publicly traded company on the NASDAQ under the symbol PPIH that specializes in the design, manufacture and installation of prefabricated piping systems. Its core business revolves around factory-assembled thermal insulation and corrosion protection solutions, including pre-insulated pipe, heat tracing, field-applied jackets and specialty spool pieces. These engineered systems are custom-built to industry specifications and are used to maintain temperatures, control heat loss and extend the life of critical piping infrastructure.
The company's products and services serve a diverse range of end markets, with primary focus on oil and gas production, petrochemical processing, power generation, district energy, and industrial facilities.
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