Wedbush Securities Inc. Trims Stake in Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH)

Wedbush Securities Inc. lessened its holdings in shares of Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH) by 6.6% during the 4th quarter, HoldingsChannel reports. The fund owned 376,953 shares of the industrial products company’s stock after selling 26,445 shares during the quarter. Wedbush Securities Inc.’s holdings in Perma-Pipe International were worth $5,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc bought a new position in Perma-Pipe International in the 4th quarter worth $48,000. State Street Corp bought a new stake in Perma-Pipe International during the third quarter valued at about $140,000. Virtu Financial LLC purchased a new stake in Perma-Pipe International in the fourth quarter worth about $152,000. Ritholtz Wealth Management bought a new position in shares of Perma-Pipe International in the fourth quarter worth about $173,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Perma-Pipe International by 66,600.0% during the 4th quarter. JPMorgan Chase & Co. now owns 12,006 shares of the industrial products company’s stock valued at $179,000 after buying an additional 11,988 shares in the last quarter. Institutional investors own 28.43% of the company’s stock.

Perma-Pipe International Trading Down 2.5 %

Shares of NASDAQ:PPIH opened at $11.28 on Friday. Perma-Pipe International Holdings, Inc. has a 12-month low of $6.83 and a 12-month high of $17.58. The company has a market cap of $90.05 million, a PE ratio of 5.73 and a beta of 0.33. The stock has a 50 day moving average of $13.93 and a 200 day moving average of $14.23. The company has a current ratio of 1.94, a quick ratio of 1.64 and a debt-to-equity ratio of 0.12.

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.