Perma-Pipe International Holdings, Inc. $PPIH Stock Position Increased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its holdings in Perma-Pipe International Holdings, Inc. (PPIH) by 81.3%, owning 57,465 shares valued at approximately $714,000 by the end of the first quarter.
• Perma-Pipe International reported earnings of $0.61 per share for the quarter, with a revenue of $46.75 million and a net margin of 7.31%.
• Wall Street analysts upgraded PPIH shares from a "buy" to a "strong-buy" rating, reflecting increased investor confidence in the company's performance.

American Century Companies Inc. grew its stake in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Free Report) by 81.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,465 shares of the industrial products company's stock after acquiring an additional 25,763 shares during the period. American Century Companies Inc. owned about 0.72% of Perma-Pipe International worth $714,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PPIH. State of Wyoming acquired a new position in Perma-Pipe International during the fourth quarter worth $77,000. Lazard Asset Management LLC purchased a new position in shares of Perma-Pipe International in the fourth quarter valued at $113,000. Bridgeway Capital Management LLC raised its stake in shares of Perma-Pipe International by 22.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 101,575 shares of the industrial products company's stock worth $1,519,000 after buying an additional 18,475 shares during the last quarter. Citadel Advisors LLC boosted its position in shares of Perma-Pipe International by 116.2% in the 4th quarter. Citadel Advisors LLC now owns 23,886 shares of the industrial products company's stock worth $357,000 after buying an additional 12,836 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Perma-Pipe International in the 4th quarter worth about $178,000. Institutional investors and hedge funds own 28.43% of the company's stock.

Perma-Pipe International Price Performance

Shares of NASDAQ:PPIH traded up $1.81 on Wednesday, hitting $32.72. The company had a trading volume of 114,620 shares, compared to its average volume of 116,611. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. The company has a market cap of $261.11 million, a PE ratio of 21.25 and a beta of 0.54. Perma-Pipe International Holdings, Inc. has a 52-week low of $8.81 and a 52-week high of $33.09. The business has a 50 day moving average of $26.36 and a 200 day moving average of $18.46.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last released its earnings results on Friday, June 13th. The industrial products company reported $0.61 EPS for the quarter. The firm had revenue of $46.75 million during the quarter. Perma-Pipe International had a net margin of 7.31% and a return on equity of 17.84%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Perma-Pipe International from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 22nd.

Perma-Pipe International Profile

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.