Perma-Pipe International (NASDAQ:PPIH) Issues Quarterly Earnings Results

Perma-Pipe International (NASDAQ:PPIH) issued its earnings results on Tuesday. The industrial products company reported ($0.02) earnings per share for the quarter, reports. The firm had revenue of $34.46 million during the quarter. Perma-Pipe International had a net margin of 2.35% and a return on equity of 5.74%.

NASDAQ:PPIH traded up $0.10 during mid-day trading on Friday, hitting $9.30. The stock had a trading volume of 265 shares, compared to its average volume of 12,163. The stock has a 50-day simple moving average of $9.07 and a two-hundred day simple moving average of $8.97. The company has a market capitalization of $74.71 million, a PE ratio of 25.11 and a beta of 0.42. Perma-Pipe International has a twelve month low of $7.87 and a twelve month high of $10.14. The company has a current ratio of 1.75, a quick ratio of 1.34 and a debt-to-equity ratio of 0.32.

Separately, TheStreet raised shares of Perma-Pipe International from a “c+” rating to a “b-” rating in a report on Monday, October 7th.

A number of large investors have recently modified their holdings of the stock. Wedbush Securities Inc. raised its holdings in Perma-Pipe International by 21.8% in the third quarter. Wedbush Securities Inc. now owns 417,836 shares of the industrial products company’s stock valued at $4,024,000 after acquiring an additional 74,857 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Perma-Pipe International by 20.3% in the second quarter. Renaissance Technologies LLC now owns 216,563 shares of the industrial products company’s stock valued at $1,971,000 after acquiring an additional 36,492 shares in the last quarter. Vanguard Group Inc. raised its holdings in Perma-Pipe International by 1.4% in the second quarter. Vanguard Group Inc. now owns 214,024 shares of the industrial products company’s stock valued at $1,948,000 after acquiring an additional 3,000 shares in the last quarter. Shufro Rose & Co. LLC raised its holdings in Perma-Pipe International by 30.1% in the third quarter. Shufro Rose & Co. LLC now owns 34,591 shares of the industrial products company’s stock valued at $333,000 after acquiring an additional 8,000 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Perma-Pipe International by 31.7% in the second quarter. BlackRock Inc. now owns 32,629 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 7,855 shares during the last quarter. 37.38% of the stock is currently owned by hedge funds and other institutional investors.

About Perma-Pipe International

Perma-Pipe International Holdings, Inc, together with its subsidiaries, engineers, designs, manufactures, and sells specialty piping and leak detection systems. The company 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/or insulation of oil and gas gathering and transmission pipelines.

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Earnings History for Perma-Pipe International (NASDAQ:PPIH)

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