Short Interest in NWPX Infrastructure, Inc. (NASDAQ:NWPX) Declines By 33.4%

Key Points

• NWPX Infrastructure, Inc. experienced a significant decline in short interest of 33.4% in September, dropping from 225,300 shares to 150,000 shares.
• Institutional investors now own 80.63% of the company's stock, with notable increases in holdings from firms like Allspring Global Investments and CWM LLC during the third quarter.
• Analysts maintain a consensus "Hold" rating on NWPX Infrastructure, with a target price set at $57.50 and the stock reported earnings of $0.91 per share for the last quarter, exceeding expectations.

NWPX Infrastructure, Inc. (NASDAQ:NWPX - Get Free Report) was the target of a large decline in short interest in September. As of September 30th, there was short interest totaling 150,000 shares, a decline of 33.4% from the September 15th total of 225,300 shares. Based on an average trading volume of 62,800 shares, the short-interest ratio is currently 2.4 days. Approximately 1.6% of the shares of the stock are short sold. Approximately 1.6% of the shares of the stock are short sold. Based on an average trading volume of 62,800 shares, the short-interest ratio is currently 2.4 days.

Insider Activity

In related news, CFO Aaron Wilkins sold 2,000 shares of NWPX Infrastructure stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $52.24, for a total transaction of $104,480.00. Following the completion of the transaction, the chief financial officer directly owned 24,762 shares of the company's stock, valued at $1,293,566.88. This trade represents a 7.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Megan A. Kendrick sold 3,500 shares of NWPX Infrastructure stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $50.00, for a total transaction of $175,000.00. Following the transaction, the vice president directly owned 10,560 shares of the company's stock, valued at $528,000. This represents a 24.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,500 shares of company stock worth $433,715. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in NWPX Infrastructure by 67.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 85,527 shares of the industrial products company's stock valued at $4,527,000 after purchasing an additional 34,526 shares during the period. CWM LLC boosted its holdings in shares of NWPX Infrastructure by 75.8% in the third quarter. CWM LLC now owns 582 shares of the industrial products company's stock valued at $31,000 after buying an additional 251 shares during the period. Man Group plc acquired a new position in shares of NWPX Infrastructure in the second quarter valued at approximately $212,000. BNP Paribas Financial Markets boosted its holdings in shares of NWPX Infrastructure by 41.2% in the second quarter. BNP Paribas Financial Markets now owns 15,324 shares of the industrial products company's stock valued at $628,000 after buying an additional 4,472 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of NWPX Infrastructure by 4.7% in the second quarter. Bridgeway Capital Management LLC now owns 102,946 shares of the industrial products company's stock valued at $4,222,000 after buying an additional 4,577 shares during the period. Institutional investors and hedge funds own 80.63% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NWPX. DA Davidson set a $60.00 price target on shares of NWPX Infrastructure in a report on Monday, August 11th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of NWPX Infrastructure in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, NWPX Infrastructure has a consensus rating of "Hold" and a consensus target price of $57.50.

NWPX Infrastructure Trading Down 0.2%

Shares of NWPX traded down $0.11 on Wednesday, reaching $53.90. 2,875 shares of the company's stock were exchanged, compared to its average volume of 66,842. The company has a current ratio of 3.95, a quick ratio of 2.81 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $520.14 million, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89. The business has a 50 day moving average price of $52.08 and a two-hundred day moving average price of $44.84. NWPX Infrastructure has a 12 month low of $36.97 and a 12 month high of $57.76.

NWPX Infrastructure (NASDAQ:NWPX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.19. The business had revenue of $133.18 million during the quarter, compared to the consensus estimate of $120.93 million. NWPX Infrastructure had a net margin of 6.69% and a return on equity of 8.93%. Research analysts anticipate that NWPX Infrastructure will post 3.32 earnings per share for the current year.

About NWPX Infrastructure

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.

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