Northern Trust Corp Trims Holdings in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)

Northern Trust Corp lessened its stake in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Free Report) by 51.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,282 shares of the industrial products company's stock after selling 37,051 shares during the period. Northern Trust Corp owned 0.44% of Perma-Pipe International worth $527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Perma-Pipe International by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 463,133 shares of the industrial products company's stock worth $6,924,000 after buying an additional 14,235 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Perma-Pipe International by 6.2% in the fourth quarter. Renaissance Technologies LLC now owns 195,993 shares of the industrial products company's stock valued at $2,930,000 after acquiring an additional 11,489 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Perma-Pipe International in the fourth quarter worth approximately $1,093,000. EAM Investors LLC purchased a new stake in shares of Perma-Pipe International during the fourth quarter worth approximately $708,000. Finally, Marshall Wace LLP acquired a new position in Perma-Pipe International in the 4th quarter valued at $488,000. 28.43% of the stock is owned by hedge funds and other institutional investors.

Perma-Pipe International Price Performance

PPIH stock traded up $0.37 during midday trading on Wednesday, reaching $14.60. The stock had a trading volume of 19,184 shares, compared to its average volume of 30,759. Perma-Pipe International Holdings, Inc. has a 52-week low of $7.72 and a 52-week high of $17.58. The company has a current ratio of 1.94, a quick ratio of 1.64 and a debt-to-equity ratio of 0.12. The company's fifty day simple moving average is $12.45 and its 200 day simple moving average is $13.98. The company has a market cap of $116.55 million, a price-to-earnings ratio of 7.41 and a beta of 0.22.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.27 EPS for the quarter. The business had revenue of $44.99 million during the quarter. Perma-Pipe International had a net margin of 10.33% and a return on equity of 23.41%.

About Perma-Pipe International

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.