Perma-Pipe International Holdings, Inc. $PPIH Stock Position Decreased by Wedbush Securities Inc.

Wedbush Securities Inc. decreased its holdings in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 23.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 279,256 shares of the industrial products company’s stock after selling 86,453 shares during the quarter. Wedbush Securities Inc. owned approximately 3.50% of Perma-Pipe International worth $6,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PPIH. Raymond James Financial Inc. grew its holdings in shares of Perma-Pipe International by 1,960.8% during the first quarter. Raymond James Financial Inc. now owns 657,501 shares of the industrial products company’s stock valued at $8,173,000 after purchasing an additional 625,596 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in Perma-Pipe International during the 1st quarter valued at approximately $581,000. American Century Companies Inc. grew its stake in Perma-Pipe International by 81.3% during the 1st quarter. American Century Companies Inc. now owns 57,465 shares of the industrial products company’s stock worth $714,000 after buying an additional 25,763 shares during the last quarter. IMS Capital Management bought a new position in Perma-Pipe International during the 2nd quarter worth $201,000. Finally, Jane Street Group LLC increased its position in Perma-Pipe International by 55.2% in the first quarter. Jane Street Group LLC now owns 18,505 shares of the industrial products company’s stock worth $230,000 after buying an additional 6,583 shares during the period. 28.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PPIH. Weiss Ratings reissued a “hold (c+)” rating on shares of Perma-Pipe International in a report on Wednesday. Wall Street Zen downgraded shares of Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 20th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Perma-Pipe International Stock Down 0.3%

PPIH stock opened at $27.80 on Friday. The firm has a market cap of $225.01 million, a PE ratio of 22.42 and a beta of 0.50. Perma-Pipe International Holdings, Inc. has a 12 month low of $8.81 and a 12 month high of $33.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.64. The firm has a 50 day simple moving average of $26.56 and a 200 day simple moving average of $22.32.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings results on Monday, September 15th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter. Perma-Pipe International had a net margin of 5.55% and a return on equity of 13.92%. The firm had revenue of $47.90 million for the quarter.

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.