Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lowered its position in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,117 shares of the industrial products company’s stock after selling 1,514 shares during the period. Essex Investment Management Co. LLC owned 0.16% of Perma-Pipe International worth $196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IFP Advisors Inc acquired a new position in shares of Perma-Pipe International during the fourth quarter worth $48,000. State Street Corp acquired a new position in shares of Perma-Pipe International during the third quarter worth $140,000. Ritholtz Wealth Management acquired a new position in shares of Perma-Pipe International during the fourth quarter worth $173,000. Empowered Funds LLC acquired a new position in shares of Perma-Pipe International during the fourth quarter worth $276,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Perma-Pipe International during the fourth quarter worth $477,000. Institutional investors and hedge funds own 28.43% of the company’s stock.

Perma-Pipe International Stock Performance

NASDAQ PPIH opened at $13.93 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.64. Perma-Pipe International Holdings, Inc. has a 1 year low of $6.83 and a 1 year high of $17.58. The company has a market capitalization of $111.20 million, a PE ratio of 7.07 and a beta of 0.33. The company has a fifty day moving average of $14.58 and a two-hundred day moving average of $13.94.

Perma-Pipe International (NASDAQ:PPIH) last released its quarterly earnings data on Monday, December 23rd. The industrial products company reported $0.31 earnings per share (EPS) for the quarter. Perma-Pipe International had a net margin of 10.33% and a return on equity of 23.41%.

About Perma-Pipe International

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.