Perma-Pipe International Holdings, Inc. $PPIH Stock Position Lifted 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 position in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Free Report) by 1,960.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 657,501 shares of the industrial products company's stock after buying an additional 625,596 shares during the period. Raymond James Financial Inc. owned about 8.24% of Perma-Pipe International worth $8,173,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PPIH. Barclays PLC bought a new stake in shares of Perma-Pipe International in the 4th quarter worth approximately $36,000. State of Wyoming bought a new stake in shares of Perma-Pipe International in the 4th quarter worth approximately $77,000. Lazard Asset Management LLC bought a new stake in shares of Perma-Pipe International in the 4th quarter worth approximately $113,000. Jane Street Group LLC bought a new stake in shares of Perma-Pipe International in the 4th quarter worth approximately $178,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Perma-Pipe International by 66,600.0% in the 4th quarter. JPMorgan Chase & Co. now owns 12,006 shares of the industrial products company's stock worth $179,000 after purchasing an additional 11,988 shares during the last quarter. Institutional investors own 28.43% of the company's stock.

Perma-Pipe International Stock Down 3.9%

PPIH opened at $29.79 on Tuesday. Perma-Pipe International Holdings, Inc. has a 12 month low of $8.81 and a 12 month high of $32.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.95 and a quick ratio of 1.72. The stock has a market cap of $237.72 million, a P/E ratio of 19.34 and a beta of 0.53. The stock's 50 day moving average price is $25.19 and its 200 day moving average price is $17.70.

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

Wall Street Analysts Forecast Growth

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

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.

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