Megan A. Kendrick, the Vice President of Human Assets at Northwest Pipe Co (NASDAQ:NWPX), has offered 1,000 shares of firm inventory at a worth of $42.37 per share, totaling $42,370. The transaction happened on September 16, 2024, as reported in a current submitting with the Securities and Change Fee.
The sale by Kendrick comes as a part of a pre-arranged buying and selling plan beneath Rule 10b5-1(c), which permits firm insiders to arrange a predetermined plan for purchasing or promoting shares at a time when they don’t seem to be in possession of fabric personal data. The adoption date of the referenced 10b5-1(c) plan for this transaction was Might 31, 2024.
Following the sale, Kendrick nonetheless owns 10,725 shares of Northwest Pipe Co widespread inventory straight. The corporate, based mostly in Vancouver, Washington, focuses on manufacturing metal pipe and tubes and is acknowledged beneath the Metal Pipe & Tubes trade class (SIC 3317).
Along with the sale of widespread inventory, the SEC submitting additionally disclosed data concerning Kendrick’s holdings in spinoff securities, particularly Restricted Inventory Models (RSUs) and Efficiency Shares. In response to the footnotes of the submitting, the RSUs signify a contingent proper to obtain shares of Northwest Pipe Co widespread inventory and are set to vest in installments over the subsequent three years. Equally, the Efficiency Shares are topic to vesting based mostly on the corporate’s EBITDA margin efficiency and can vest in installments by way of March 2027.
Northwest Pipe Co’s traders and potential traders usually monitor insider transactions as they will present insights into how the corporate’s executives view the inventory’s worth and future efficiency. Nevertheless, such transactions usually are not essentially indicative of future worth actions and have to be thought-about as a part of a broader funding technique.
The small print of the transaction are public report and can be found for evaluate within the SEC’s Kind 4 submitting.
“In different current information, Northwest Pipe Firm (NASDAQ:) reported strong progress and report income for Q2. The corporate’s consolidated web gross sales surged by 11.3% to $129.5 million, the best since early 2013. The Metal Strain Pipe section noticed a 15.9% rise in income to $89.5 million, whereas the Precast section reported a modest improve to $40 million. A robust backlog and an bettering order guide contribute to a constructive outlook for the rest of the yr.
The corporate additionally reported a report gross revenue of $25.8 million, a margin of 19.9%. Regardless of a week-long shutdown resulting from energy outages in Houston, the corporate anticipates the Precast section to enhance within the second half of 2024, pushed by residential and business demand. Moreover, the corporate’s CEO, Scott Montross, expressed optimism concerning the water transmission pipe market’s progress potential resulting from Infrastructure Funding and Jobs Act initiatives.
When it comes to future expectations, analysts predict sustained progress into 2025 for the SPP enterprise. Nevertheless, additionally they highlighted that decrease uncooked materials prices led to decreased promoting costs per ton in SPP, regardless of elevated manufacturing. These are among the many current developments for the Northwest Pipe Firm.”
InvestingPro Insights
As Northwest Pipe Co (NASDAQ:NWPX) continues to navigate the market, current information from InvestingPro affords insights into the corporate’s monetary well being and inventory efficiency. Megan A. Kendrick’s sale of 1,000 shares coincides with a interval the place Northwest Pipe Co has proven a robust return over the past three months, with a 27.78% worth complete return, highlighting a constructive investor sentiment. That is in step with the InvestingPro Tip that the corporate has skilled a big worth uptick over the past six months, boasting a 26.19% worth complete return in that interval.
InvestingPro Knowledge underscores the corporate’s stability, with a market capitalization of $438.21M and a strong P/E ratio of 17.47. These figures counsel that the corporate is being valued moderately by the market in relation to its earnings. Moreover, the income progress for the final twelve months as of Q2 2024 stands at a wholesome 5.91%, indicating a gentle improve within the firm’s gross sales. It is also price noting that analysts predict the corporate might be worthwhile this yr, an InvestingPro Tip that aligns with the reported profitability over the past twelve months.
Whereas Kendrick’s transaction is a single occasion inside the firm’s broader monetary narrative, these InvestingPro metrics and suggestions supply worthwhile context for traders contemplating Northwest Pipe Co’s inventory. For these searching for extra in-depth evaluation, there are extra InvestingPro Suggestions out there on the corporate’s profile web page, which may additional inform funding selections.
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