Wedbush Securities Inc. Sells 11,244 Shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)

Wedbush Securities Inc. lessened its stake in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 365,709 shares of the industrial products company's stock after selling 11,244 shares during the period. Wedbush Securities Inc. owned about 4.58% of Perma-Pipe International worth $4,546,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of PPIH. Jane Street Group LLC bought a new stake in Perma-Pipe International in the fourth quarter valued at approximately $178,000. American Century Companies Inc. acquired a new position in shares of Perma-Pipe International in the fourth quarter valued at approximately $474,000. Citadel Advisors LLC grew its position in shares of Perma-Pipe International by 116.2% in the fourth quarter. Citadel Advisors LLC now owns 23,886 shares of the industrial products company's stock valued at $357,000 after purchasing an additional 12,836 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Perma-Pipe International in the fourth quarter valued at approximately $477,000. Finally, Bridgeway Capital Management LLC grew its position in shares of Perma-Pipe International by 22.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 101,575 shares of the industrial products company's stock valued at $1,519,000 after purchasing an additional 18,475 shares during the last quarter. Institutional investors own 28.43% of the company's stock.

Wall Street Analyst Weigh In

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

Perma-Pipe International Stock Performance

Shares of Perma-Pipe International stock traded up $0.66 on Friday, hitting $24.02. The stock had a trading volume of 28,383 shares, compared to its average volume of 45,334. Perma-Pipe International Holdings, Inc. has a twelve month low of $8.23 and a twelve month high of $25.65. The business's 50 day moving average is $19.45 and its two-hundred day moving average is $15.54. The company has a quick ratio of 1.72, a current ratio of 1.95 and a debt-to-equity ratio of 0.05. The stock has a market cap of $191.68 million, a price-to-earnings ratio of 15.60 and a beta of 0.46.

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

Perma-Pipe International Company 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.