Essex Investment Management Co. LLC Trims Position in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)

Essex Investment Management Co. LLC trimmed its holdings in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 10.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,117 shares of the industrial products company’s stock after selling 1,514 shares during the period. Essex Investment Management Co. LLC’s holdings in Perma-Pipe International were worth $196,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc purchased a new stake in shares of Perma-Pipe International in the fourth quarter valued at about $48,000. State Street Corp purchased a new position in Perma-Pipe International during the third quarter worth about $140,000. Ritholtz Wealth Management purchased a new position in Perma-Pipe International during the fourth quarter worth about $173,000. Empowered Funds LLC purchased a new position in Perma-Pipe International during the fourth quarter worth about $276,000. Finally, Raymond James Financial Inc. purchased a new position in Perma-Pipe International during the fourth quarter worth about $477,000. 28.43% of the stock is owned by hedge funds and other institutional investors.

Perma-Pipe International Trading Down 4.1 %

NASDAQ PPIH opened at $13.93 on Monday. The stock has a market capitalization of $111.20 million, a P/E ratio of 7.07 and a beta of 0.33. Perma-Pipe International Holdings, Inc. has a 52-week low of $6.83 and a 52-week high of $17.58. The firm has a 50-day moving average price of $14.58 and a 200 day moving average price of $13.94. The company has a quick ratio of 1.64, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Perma-Pipe International (NASDAQ:PPIH) last issued its earnings results 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.