Raymond James & Associates has disclosed its beneficial ownership of 605,807 shares in Perma-Pipe International Holdings, Inc., amounting to 7% of the company. This filing, submitted on October 30, 2026, highlights the firm’s ongoing investment strategy and interest in the industrial sector.

Perma-Pipe International Holdings, based in The Woodlands, Texas, operates within the industrial and commercial fans and blowers sector. The company is known for its innovative solutions in piping and insulation systems. The recent filing indicates that Raymond James is strategically positioning itself in this niche market.

The filing states, “By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business.” This statement underscores that the shares were not acquired for the purpose of influencing control of Perma-Pipe.

This update may have implications for other stakeholders in the industrial sector, as Raymond James’ investment can be seen as a vote of confidence in Perma-Pipe's future prospects. The firm has not disclosed any plans regarding further actions related to this investment.

Details were not available in the SEC filing regarding future intentions or actions. Investors and analysts will likely be watching for any additional filings or announcements from Raymond James regarding its stake in Perma-Pipe.