Royce & Associates LP Increases Stock Holdings in Perma-Pipe International Holdings, Inc. $PPIH

Royce & Associates LP boosted its position in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 62.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,253 shares of the industrial products company’s stock after acquiring an additional 57,655 shares during the quarter. Royce & Associates LP owned 1.84% of Perma-Pipe International worth $4,531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Perma-Pipe International by 1,595.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,419 shares of the industrial products company’s stock valued at $713,000 after acquiring an additional 28,625 shares during the period. Cannell Capital LLC boosted its holdings in Perma-Pipe International by 29.0% during the 3rd quarter. Cannell Capital LLC now owns 121,170 shares of the industrial products company’s stock valued at $2,839,000 after acquiring an additional 27,259 shares during the period. Evernest Financial Advisors LLC purchased a new position in Perma-Pipe International during the 3rd quarter valued at about $389,000. Jefferies Financial Group Inc. purchased a new position in Perma-Pipe International during the 4th quarter valued at about $273,000. Finally, Brendel Financial Advisors LLC purchased a new position in Perma-Pipe International during the 4th quarter valued at about $308,000. 28.43% of the stock is currently owned by hedge funds and other institutional investors.

Perma-Pipe International Stock Performance

Shares of PPIH opened at $30.69 on Friday. The stock has a 50-day simple moving average of $31.61 and a 200-day simple moving average of $30.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.61 and a current ratio of 1.84. The stock has a market capitalization of $249.20 million, a PE ratio of 14.75 and a beta of 0.58. Perma-Pipe International Holdings, Inc. has a 1 year low of $13.20 and a 1 year high of $36.72.

Perma-Pipe International (NASDAQ:PPIH) last announced its quarterly earnings data on Thursday, April 16th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.16. The business had revenue of $55.13 million during the quarter, compared to analysts’ expectations of $55.00 million. Perma-Pipe International had a return on equity of 20.37% and a net margin of 8.08%.

Analysts Set New Price Targets

A number of brokerages recently commented on PPIH. Weiss Ratings cut Perma-Pipe International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 19th. Wall Street Zen cut Perma-Pipe International from a “strong-buy” rating to a “hold” rating in a report on Saturday, April 18th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.00.

About Perma-Pipe International

Perma-Pipe International Holdings Ltd. is a publicly traded company on the NASDAQ under the symbol PPIH that specializes in the design, manufacture and installation of prefabricated piping systems. Its core business revolves around factory-assembled thermal insulation and corrosion protection solutions, including pre-insulated pipe, heat tracing, field-applied jackets and specialty spool pieces. These engineered systems are custom-built to industry specifications and are used to maintain temperatures, control heat loss and extend the life of critical piping infrastructure.

The company’s products and services serve a diverse range of end markets, with primary focus on oil and gas production, petrochemical processing, power generation, district energy, and industrial facilities.