Perma-Pipe International Holdings, Inc. $PPIH Position Boosted by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its position in Perma-Pipe International by an impressive 1,960.8% during Q1, attaining roughly 8.24% ownership worth about $8.17 million.
• Perma-Pipe International's stock has seen a 3.9% decline recently, currently trading at $29.79, with a 12-month high of $32.90 and a low of $8.81.
• Wall Street analysts have upgraded Perma-Pipe International from a "buy" to a "strong-buy" rating, indicating a favorable outlook for the company's growth.

Raymond James Financial Inc. grew its holdings in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Free Report) by 1,960.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 657,501 shares of the industrial products company's stock after purchasing an additional 625,596 shares during the period. Raymond James Financial Inc. owned 8.24% of Perma-Pipe International worth $8,173,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. American Century Companies Inc. increased its holdings in shares of Perma-Pipe International by 81.3% in the 1st quarter. American Century Companies Inc. now owns 57,465 shares of the industrial products company's stock worth $714,000 after acquiring an additional 25,763 shares during the period. State of Wyoming acquired a new stake in shares of Perma-Pipe International in the 4th quarter worth about $77,000. Lazard Asset Management LLC acquired a new stake in shares of Perma-Pipe International in the 4th quarter worth about $113,000. Bridgeway Capital Management LLC increased its holdings in shares of Perma-Pipe International by 22.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 101,575 shares of the industrial products company's stock worth $1,519,000 after acquiring an additional 18,475 shares during the period. Finally, Citadel Advisors LLC increased its holdings 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 acquiring an additional 12,836 shares during the period. 28.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Perma-Pipe International Price Performance

PPIH traded down $0.92 on Friday, reaching $30.51. The company had a trading volume of 115,084 shares, compared to its average volume of 120,091. The company has a fifty day moving average of $25.84 and a 200-day moving average of $18.12. The company has a market capitalization of $243.47 million, a P/E ratio of 19.81 and a beta of 0.54. The company has a current ratio of 1.95, a quick ratio of 1.72 and a debt-to-equity ratio of 0.05. Perma-Pipe International Holdings, Inc. has a one year low of $8.81 and a one year high of $32.90.

Perma-Pipe International (NASDAQ:PPIH - Get Free Report) last announced its earnings results on Friday, June 13th. The industrial products company reported $0.61 earnings per share (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%.

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.