Megan A. Kendrick, Vice President of Human Resources at Northwest Pipe Co . (NASDAQ:NWPX), recently sold 1,000 shares of the company’s common stock. The transaction, dated October 15, 2024, was executed at a price of $44.22 per share, amounting to a total sale of $44,220. Following this sale, Kendrick holds 9,725 shares of Northwest Pipe’s common stock.
In addition to her current holdings, Kendrick possesses 3,265 Restricted Stock Units and 9,797 Performance Shares. The Restricted Stock Units are set to vest in installments from January 2025 through 2027. Meanwhile, the Performance Shares, which will vest in March of 2025, 2026, and 2027, are contingent upon the company achieving specific EBITDA margin targets.
In other recent news, Northwest Pipe Company (NASDAQ:) reported robust growth and record profits for Q2 2024. The company’s consolidated net sales rose by 11.3% to $129.5 million, the highest quarterly level since early 2013. The Steel Pressure Pipe segment’s revenue climbed by 15.9% to $89.5 million, while the Precast segment reported a modest increase in revenue to $40 million.
The company’s gross profit reached a record $25.8 million, with a margin of 19.9%. The future outlook remains optimistic due to a strong backlog in the Steel Pressure Pipe segment and an improving order book in the Precast segment. The company is also actively exploring merger and acquisition opportunities.
Despite a week-long shutdown in Houston due to power outages, the company expects the Precast segment to improve in the second half of 2024, driven by residential and commercial demand. The company’s CEO, Scott Montross, expects steel prices to stabilize around $800 to $850 per ton. These are just a few of the recent developments at Northwest Pipe Company.
InvestingPro Insights
Northwest Pipe Co. (NASDAQ:NWPX) has been experiencing significant momentum in the market, which provides context for the recent insider sale by VP Megan A. Kendrick. According to InvestingPro data, the company’s stock has shown remarkable performance, with a 53.67% price total return over the past year and a 36.13% return in the last six months. This strong performance aligns with an InvestingPro Tip indicating that NWPX is trading near its 52-week high, with the current price at 98.29% of that peak.
The company’s financial health appears robust, with an InvestingPro Tip highlighting that liquid assets exceed short-term obligations. This financial stability is further supported by the company’s profitability over the last twelve months, with a P/E ratio of 17.9 and a revenue of $471.61 million for the same period.
Despite the recent insider sale, these metrics suggest that Northwest Pipe Co. remains in a strong market position. Investors seeking more comprehensive analysis can find 8 additional InvestingPro Tips for NWPX, offering deeper insights into the company’s financial outlook and market performance.
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