Baird Financial Group Inc. Decreases Stock Holdings in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)

Baird Financial Group Inc. trimmed its holdings in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 28.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 29,128 shares of the industrial products company’s stock after selling 11,666 shares during the period. Baird Financial Group Inc.’s holdings in Perma-Pipe International were worth $435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Keeley Teton Advisors LLC increased its position in shares of Perma-Pipe International by 10.8% during the fourth quarter. Keeley Teton Advisors LLC now owns 12,360 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 1,200 shares during the last quarter. Barclays PLC purchased a new stake in shares of Perma-Pipe International during the fourth quarter valued at approximately $36,000. IFP Advisors Inc purchased a new position in Perma-Pipe International in the fourth quarter valued at approximately $48,000. Virtu Financial LLC purchased a new position in Perma-Pipe International in the fourth quarter valued at approximately $152,000. Finally, Renaissance Technologies LLC lifted its stake in Perma-Pipe International by 6.2% in the fourth quarter. Renaissance Technologies LLC now owns 195,993 shares of the industrial products company’s stock valued at $2,930,000 after purchasing an additional 11,489 shares during the last quarter. 28.43% of the stock is owned by hedge funds and other institutional investors.

Perma-Pipe International Price Performance

Perma-Pipe International stock opened at $14.10 on Friday. Perma-Pipe International Holdings, Inc. has a 12 month low of $7.72 and a 12 month high of $17.58. The company has a current ratio of 1.94, a quick ratio of 1.64 and a debt-to-equity ratio of 0.12. The business’s 50 day simple moving average is $12.52 and its 200 day simple moving average is $14.03. The company has a market cap of $112.56 million, a price-to-earnings ratio of 7.16 and a beta of 0.22.

Perma-Pipe International (NASDAQ:PPIH) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.27 EPS for the quarter. Perma-Pipe International had a return on equity of 23.41% and a net margin of 10.33%. The business had revenue of $44.99 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.