NWPX Infrastructure, Inc.
NWPX · Steel Pipe & Tubes · 9.6M shares · +1%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$3M (gross $707K, SBC $4M)
Reference price $76.85 · est. market cap ~$741M — last insider sale, 2026-03-30 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B73Largest North American water-transmission pipe maker with strong returns on assets and a clean balance sheet.
Strengths
- Top-quintile ROA (6.1%, 81st pct), strong interest coverage (19.5x, 90th) and minimal leverage (D/E 0.02)
- Leading market position in critical water infrastructure with healthy liquidity (current 3.78x) and rising margins
Risks
- ROE only mid-pack (9%, 58th pct) and thin cash balance (12th pct); modest net income growth (3.5%)
- Exposed to federal IIJA funding delays, steel-price volatility and softening housing/precast demand
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~29% of revenue from one customer/distributor — Purchased steel typically represents approximately 29% of our WTS projects’ cost of sales, and higher steel costs generally result in higher selling prices and revenue; however, volatile fluctuations
- Insider sellingInsider selling — 8 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$2M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
9.0%
Return on assets
6.1%
ROIC
10.0%
Revenue growth (QoQ)
-8.2%
Net-income growth
3.5%
Debt / equity
0.0×
Interest coverage
19.5×
Current ratio
3.8×
Free cash flow
$47M
Tangible book value
$316M
Cash & investments
$2M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-10 | Lockridge Irma | Grant | 899 | $122.31 |
| 2026-06-10 | Paschal John | Grant | 899 | $122.31 |
| 2026-06-10 | LARSON KEITH R | Grant | 899 | $122.31 |
| 2026-06-10 | Julian Amanda | Grant | 899 | $122.31 |
| 2026-06-10 | FRANSON MICHAEL C | Grant | 899 | $122.31 |
| 2026-06-10 | ROMAN RICHARD A | Grant | 899 | $122.31 |
| 2026-03-31 | Kendrick Megan A. | Option exercise | 2.2K | — |
| 2026-03-31 | Kendrick Megan A. | Tax withheld | 875 | $77.86 |
| 2026-03-31 | Kendrick Megan A. | Option exercise | 2.1K | — |
| 2026-03-31 | Kendrick Megan A. | Tax withheld | 845 | $77.86 |
| 2026-03-31 | Kendrick Megan A. | Option exercise | 1.5K | — |
| 2026-03-31 | Kendrick Megan A. | Tax withheld | 602 | $77.86 |
| 2026-03-31 | Stokes Eric | Option exercise | 3.4K | — |
| 2026-03-31 | Stokes Eric | Tax withheld | 1.3K | $77.86 |
| 2026-03-31 | Stokes Eric | Option exercise | 3.3K | — |
| 2026-03-31 | Stokes Eric | Tax withheld | 1.3K | $77.86 |
| 2026-03-31 | Stokes Eric | Option exercise | 2.3K | — |
| 2026-03-31 | Stokes Eric | Tax withheld | 912 | $77.86 |
| 2026-03-31 | Tanguis Jesus | Option exercise | 1.2K | — |
| 2026-03-31 | Tanguis Jesus | Tax withheld | 358 | $77.86 |
| 2026-03-31 | Tanguis Jesus | Option exercise | 851 | — |
| 2026-03-31 | Tanguis Jesus | Tax withheld | 245 | $77.86 |
| 2026-03-31 | Wray Michael | Option exercise | 3.2K | — |
| 2026-03-31 | Wray Michael | Tax withheld | 1.3K | $77.86 |
| 2026-03-31 | Wray Michael | Option exercise | 3.3K | — |
| 2026-03-31 | Wray Michael | Tax withheld | 1.3K | $77.86 |
| 2026-03-31 | Wray Michael | Option exercise | 2.3K | — |
| 2026-03-31 | Wray Michael | Tax withheld | 912 | $77.86 |
| 2026-03-31 | Wilkins Aaron | Option exercise | 3.8K | — |
| 2026-03-31 | Wilkins Aaron | Tax withheld | 1.5K | $77.86 |
| 2026-03-31 | Wilkins Aaron | Option exercise | 3.7K | — |
| 2026-03-31 | Wilkins Aaron | Tax withheld | 1.5K | $77.86 |
| 2026-03-31 | Wilkins Aaron | Option exercise | 2.8K | — |
| 2026-03-31 | Wilkins Aaron | Tax withheld | 1.1K | $77.86 |
| 2026-03-31 | Brittain Miles | Option exercise | 3.8K | — |
| 2026-03-31 | Brittain Miles | Tax withheld | 1.5K | $77.86 |
| 2026-03-31 | Brittain Miles | Option exercise | 3.7K | — |
| 2026-03-31 | Brittain Miles | Tax withheld | 1.5K | $77.86 |
| 2026-03-31 | Brittain Miles | Option exercise | 2.8K | — |
| 2026-03-31 | Brittain Miles | Tax withheld | 1.1K | $77.86 |
| 2026-03-31 | MONTROSS SCOTT J | Option exercise | 10K | — |
| 2026-03-31 | MONTROSS SCOTT J | Tax withheld | 4.0K | $77.86 |
| 2026-03-31 | MONTROSS SCOTT J | Option exercise | 10K | — |
| 2026-03-31 | MONTROSS SCOTT J | Tax withheld | 4.0K | $77.86 |
| 2026-03-31 | MONTROSS SCOTT J | Option exercise | 8.2K | — |
| 2026-03-31 | MONTROSS SCOTT J | Tax withheld | 3.2K | $77.86 |
| 2026-03-30 | MONTROSS SCOTT J | Sell | 2.1K | $76.85 |
| 2026-03-20 | Brittain Miles | Sell | 3.3K | $70.89 |
| 2026-03-16 | Julian Amanda | Sell | 3.5K | $71.98 |
| 2026-03-16 | MONTROSS SCOTT J | Sell | 2.5K | $71.44 |
| 2026-03-16 | MONTROSS SCOTT J | Sell | 2.5K | $72.48 |
| 2026-03-12 | Brittain Miles | Sell | 4.0K | $71.01 |
| 2026-03-09 | MONTROSS SCOTT J | Sell | 2.5K | $72.32 |
| 2026-03-04 | Kendrick Megan A. | Sell | 4.5K | $80.59 |
| 2026-01-15 | Stokes Eric | Option exercise | 960 | — |
| 2026-01-15 | Stokes Eric | Tax withheld | 409 | $69.27 |
| 2026-01-15 | Stokes Eric | Option exercise | 834 | — |
| 2026-01-15 | Stokes Eric | Tax withheld | 355 | $69.27 |
| 2026-01-15 | Stokes Eric | Option exercise | 709 | — |
| 2026-01-15 | Stokes Eric | Tax withheld | 302 | $69.27 |
| 2026-01-15 | Wray Michael | Option exercise | 918 | — |
| 2026-01-15 | Wray Michael | Tax withheld | 417 | $69.27 |
| 2026-01-15 | Wray Michael | Option exercise | 834 | — |
| 2026-01-15 | Wray Michael | Tax withheld | 379 | $69.27 |
| 2026-01-15 | Wray Michael | Option exercise | 709 | — |
| 2026-01-15 | Wray Michael | Tax withheld | 322 | $69.27 |
| 2026-01-15 | Brittain Miles | Option exercise | 1.1K | — |
| 2026-01-15 | Brittain Miles | Tax withheld | 486 | $69.27 |
| 2026-01-15 | Brittain Miles | Option exercise | 961 | — |
| 2026-01-15 | Brittain Miles | Tax withheld | 436 | $69.27 |
| 2026-01-15 | Brittain Miles | Option exercise | 865 | — |
| 2026-01-15 | Brittain Miles | Tax withheld | 393 | $69.27 |
| 2026-01-15 | Wilkins Aaron | Option exercise | 1.1K | — |
| 2026-01-15 | Wilkins Aaron | Tax withheld | 486 | $69.27 |
| 2026-01-15 | Wilkins Aaron | Option exercise | 961 | — |
| 2026-01-15 | Wilkins Aaron | Tax withheld | 436 | $69.27 |
| 2026-01-15 | Wilkins Aaron | Tax withheld | 393 | $69.27 |
| 2026-01-15 | MONTROSS SCOTT J | Option exercise | 2.9K | — |
| 2026-01-15 | MONTROSS SCOTT J | Tax withheld | 1.3K | $69.27 |
| 2026-01-15 | MONTROSS SCOTT J | Option exercise | 2.6K | — |
| 2026-01-15 | MONTROSS SCOTT J | Tax withheld | 997 | $69.27 |
| 2026-01-15 | MONTROSS SCOTT J | Option exercise | 2.5K | — |
| 2026-01-15 | MONTROSS SCOTT J | Tax withheld | 989 | $69.27 |
| 2026-01-15 | Wilkins Aaron | Option exercise | 865 | — |
| 2026-01-15 | Kendrick Megan A. | Option exercise | 635 | — |
| 2026-01-15 | Kendrick Megan A. | Tax withheld | 275 | $69.27 |
| 2026-01-15 | Kendrick Megan A. | Option exercise | 550 | — |
| 2026-01-15 | Kendrick Megan A. | Tax withheld | 239 | $69.27 |
| 2026-01-15 | Kendrick Megan A. | Option exercise | 468 | — |
| 2026-01-15 | Kendrick Megan A. | Tax withheld | 203 | $69.27 |
| 2025-12-15 | Wilkins Aaron | Sell | 35 | $63.50 |
| 2025-12-09 | FRANSON MICHAEL C | Sell | 5.5K | $60.17 |
| 2025-12-09 | Wilkins Aaron | Sell | 1.2K | $60.10 |
| 2025-12-08 | Wilkins Aaron | Sell | 5.0K | $59.90 |
| 2025-11-24 | Brittain Miles | Sell | 4.0K | $56.41 |
| 2025-11-14 | Brittain Miles | Sell | 4.0K | $56.76 |
| 2025-11-11 | MONTROSS SCOTT J | Sell | 3.2K | $57.18 |
| 2025-11-11 | MONTROSS SCOTT J | Sell | 1.5K | $57.34 |
| 2025-11-11 | MONTROSS SCOTT J | Sell | 2.5K | $57.23 |
| 2025-11-11 | MONTROSS SCOTT J | Sell | 1.0K | $57.53 |
| 2025-09-02 | Wilkins Aaron | Sell | 2.0K | $52.24 |
| 2025-08-29 | Wilkins Aaron | Sell | 500 | $54.02 |
| 2025-08-22 | Wilkins Aaron | Sell | 2.5K | $50.89 |
| 2025-08-11 | Kendrick Megan A. | Sell | 3.5K | $50.00 |
| 2025-06-12 | Julian Amanda | Grant | 2.2K | $39.23 |
| 2025-06-12 | FRANSON MICHAEL C | Grant | 2.2K | $39.23 |
| 2025-06-12 | ROMAN RICHARD A | Grant | 2.2K | $39.23 |
| 2025-06-12 | Paschal John | Grant | 2.2K | $39.23 |
| 2025-06-12 | Lockridge Irma | Grant | 2.2K | $39.23 |
| 2025-06-12 | LARSON KEITH R | Grant | 2.2K | $39.23 |
| 2025-05-05 | MONTROSS SCOTT J | Other | 8.9K | — |
| 2025-03-31 | Stokes Eric | Option exercise | 3.3K | — |
| 2025-03-31 | Brittain Miles | Option exercise | 3.0K | — |
| 2025-03-31 | Brittain Miles | Tax withheld | 1.2K | $41.30 |
| 2025-03-31 | Brittain Miles | Option exercise | 3.6K | — |
| 2025-03-31 | Brittain Miles | Tax withheld | 1.4K | $41.30 |
| 2025-03-31 | Brittain Miles | Option exercise | 3.8K | — |
| 2025-03-31 | Brittain Miles | Tax withheld | 1.5K | $41.30 |
| 2025-03-31 | Wilkins Aaron | Option exercise | 3.0K | — |
| 2025-03-31 | Wilkins Aaron | Tax withheld | 1.2K | $41.30 |
| 2025-03-31 | Wilkins Aaron | Option exercise | 3.6K | — |
| 2025-03-31 | Wilkins Aaron | Tax withheld | 1.4K | $41.30 |
| 2025-03-31 | Wilkins Aaron | Option exercise | 3.8K | — |
| 2025-03-31 | Wilkins Aaron | Tax withheld | 1.5K | $41.30 |
| 2025-03-31 | MONTROSS SCOTT J | Option exercise | 9.4K | — |
| 2025-03-31 | MONTROSS SCOTT J | Tax withheld | 3.7K | $41.30 |
| 2025-03-31 | MONTROSS SCOTT J | Option exercise | 9.6K | — |
| 2025-03-31 | MONTROSS SCOTT J | Tax withheld | 3.8K | $41.30 |
| 2025-03-31 | MONTROSS SCOTT J | Option exercise | 10K | — |
| 2025-03-31 | MONTROSS SCOTT J | Tax withheld | 4.1K | $41.30 |
| 2025-03-31 | Stokes Eric | Tax withheld | 1.2K | $41.30 |
| 2025-03-31 | Kendrick Megan A. | Option exercise | 1.2K | — |
| 2025-03-31 | Kendrick Megan A. | Tax withheld | 456 | $41.30 |
| 2025-03-31 | Kendrick Megan A. | Option exercise | 2.1K | — |
| 2025-03-31 | Kendrick Megan A. | Tax withheld | 788 | $41.30 |
| 2025-03-31 | Kendrick Megan A. | Option exercise | 2.2K | — |
| 2025-03-31 | Kendrick Megan A. | Tax withheld | 820 | $41.30 |
| 2025-03-31 | Wray Michael | Option exercise | 2.5K | — |
| 2025-03-31 | Wray Michael | Tax withheld | 1.0K | $41.30 |
| 2025-03-31 | Wray Michael | Option exercise | 3.1K | — |
| 2025-03-31 | Wray Michael | Tax withheld | 1.2K | $41.30 |
| 2025-03-31 | Wray Michael | Option exercise | 3.3K | — |
| 2025-03-31 | Wray Michael | Tax withheld | 1.3K | $41.30 |
| 2025-03-31 | Stokes Eric | Option exercise | 2.7K | — |
| 2025-03-31 | Stokes Eric | Tax withheld | 997 | $41.30 |
| 2025-03-31 | Stokes Eric | Option exercise | 3.2K | — |
| 2025-03-31 | Stokes Eric | Tax withheld | 1.2K | $41.30 |
| 2025-03-24 | Wilkins Aaron | Sell | 1.0K | $44.00 |
| 2025-02-12 | MONTROSS SCOTT J | Other | 2.4K | — |
| 2025-01-15 | Kendrick Megan A. | Option exercise | 344 | — |
| 2025-01-15 | Kendrick Megan A. | Tax withheld | 148 | $48.66 |
| 2025-01-15 | Kendrick Megan A. | Option exercise | 634 | — |
| 2025-01-15 | Kendrick Megan A. | Tax withheld | 274 | $48.66 |
| 2025-01-15 | Kendrick Megan A. | Option exercise | 551 | — |
| 2025-01-15 | Kendrick Megan A. | Tax withheld | 238 | $48.66 |
| 2025-01-15 | Stokes Eric | Option exercise | 754 | — |
| 2025-01-15 | Stokes Eric | Tax withheld | 321 | $48.66 |
| 2025-01-15 | Stokes Eric | Option exercise | 961 | — |
| 2025-01-15 | Stokes Eric | Tax withheld | 409 | $48.66 |
| 2025-01-15 | Stokes Eric | Option exercise | 834 | — |
| 2025-01-15 | Stokes Eric | Tax withheld | 355 | $48.66 |
| 2025-01-15 | Wray Michael | Option exercise | 721 | — |
| 2025-01-15 | Wray Michael | Tax withheld | 326 | $48.66 |
| 2025-01-15 | Wray Michael | Option exercise | 917 | — |
| 2025-01-15 | Wray Michael | Tax withheld | 415 | $48.66 |
| 2025-01-15 | Wray Michael | Option exercise | 834 | — |
| 2025-01-15 | Wray Michael | Tax withheld | 377 | $48.66 |
| 2025-01-15 | Brittain Miles | Option exercise | 840 | — |
| 2025-01-15 | Brittain Miles | Tax withheld | 380 | $48.66 |
| 2025-01-15 | Brittain Miles | Option exercise | 1.1K | — |
| 2025-01-15 | Brittain Miles | Tax withheld | 485 | $48.66 |
| 2025-01-15 | Brittain Miles | Option exercise | 961 | — |
| 2025-01-15 | Brittain Miles | Tax withheld | 435 | $48.66 |
| 2025-01-15 | Wilkins Aaron | Option exercise | 840 | — |
| 2025-01-15 | Wilkins Aaron | Tax withheld | 380 | $48.66 |
| 2025-01-15 | Wilkins Aaron | Option exercise | 1.1K | — |
| 2025-01-15 | Wilkins Aaron | Tax withheld | 485 | $48.66 |
| 2025-01-15 | Wilkins Aaron | Option exercise | 961 | — |
| 2025-01-15 | Wilkins Aaron | Tax withheld | 435 | $48.66 |
| 2025-01-15 | MONTROSS SCOTT J | Option exercise | 2.6K | — |
| 2025-01-15 | MONTROSS SCOTT J | Tax withheld | 1.2K | $48.66 |
| 2025-01-15 | MONTROSS SCOTT J | Option exercise | 2.9K | — |
| 2025-01-15 | MONTROSS SCOTT J | Tax withheld | 1.2K | $48.66 |
| 2025-01-15 | MONTROSS SCOTT J | Option exercise | 2.6K | — |
| 2025-01-15 | MONTROSS SCOTT J | Tax withheld | 993 | $48.66 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-11 | Shareholder voteExhibits | filing ↗ |
| 2026-06-10 | Reg FDExhibits | filing ↗ |
| 2026-04-29 | ResultsExhibits | filing ↗ |
| 2026-03-17 | Exec/director changeOtherExhibits | filing ↗ |
| 2026-02-25 | ResultsExhibits | filing ↗ |
| 2026-01-22 | Exec/director changeExhibits | filing ↗ |
| 2025-12-16 | Exec/director changeOtherExhibits | filing ↗ |
| 2025-10-29 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-11 | 2026-06-10 | 0001437749-26-020293 ↗ |
| 8-K | 2026-06-10 | 2026-06-10 | 0001437749-26-020086 ↗ |
| 10-Q | 2026-04-30 | 2026-03-31 | 0001437749-26-014185 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001437749-26-013887 ↗ |
| 8-K | 2026-03-17 | 2026-03-11 | 0001437749-26-008601 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001437749-26-005861 ↗ |
| 8-K | 2026-02-25 | 2026-02-25 | 0001437749-26-005605 ↗ |
| 8-K | 2026-01-22 | 2026-01-15 | 0001437749-26-001761 ↗ |
| 8-K | 2025-12-16 | 2025-12-10 | 0001437749-25-038005 ↗ |
| 10-Q | 2025-10-30 | 2025-09-30 | 0001437749-25-032419 ↗ |
| 8-K | 2025-10-29 | 2025-10-29 | 0001437749-25-032195 ↗ |
| 8-K | 2025-08-19 | 2025-08-13 | 0001437749-25-027357 ↗ |