Aperio Group LLC purchased a new position in Tower International, Inc. (NYSE:TOWR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 9,335 shares of the auto parts company’s stock, valued at approximately $254,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bowling Portfolio Management LLC purchased a new stake in shares of Tower International in the second quarter worth $225,000. Eqis Capital Management Inc. purchased a new stake in shares of Tower International in the third quarter worth $259,000. Cigna Investments Inc. New purchased a new stake in shares of Tower International in the second quarter worth $317,000. Capital Fund Management S.A. purchased a new stake in shares of Tower International in the second quarter worth $404,000. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of Tower International by 2.0% in the second quarter. Thompson Siegel & Walmsley LLC now owns 29,524 shares of the auto parts company’s stock worth $663,000 after purchasing an additional 577 shares in the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.
In other news, SVP William Cook sold 6,601 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $31.87, for a total value of $210,373.87. Following the completion of the sale, the senior vice president now owns 11,917 shares in the company, valued at approximately $379,794.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.20% of the stock is currently owned by company insiders.
Several equities analysts recently weighed in on TOWR shares. BidaskClub cut shares of Tower International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 30th. ValuEngine cut shares of Tower International from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Zacks Investment Research raised shares of Tower International from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday, September 26th. TheStreet raised shares of Tower International from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. Finally, FBR & Co reaffirmed a “buy” rating and set a $40.00 target price on shares of Tower International in a research note on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $33.67.
Tower International, Inc. (NYSE TOWR) opened at $30.35 on Thursday. Tower International, Inc. has a 52 week low of $21.00 and a 52 week high of $33.65. The company has a market cap of $630.22, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 0.83 and a beta of 2.69. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 1.32.
Tower International (NYSE:TOWR) last released its earnings results on Monday, October 30th. The auto parts company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.08. The firm had revenue of $462.00 million during the quarter, compared to analyst estimates of $451.73 million. Tower International had a net margin of 3.58% and a return on equity of 30.51%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $0.90 EPS. sell-side analysts anticipate that Tower International, Inc. will post 3.7 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 10th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, November 9th. This is a positive change from Tower International’s previous quarterly dividend of $0.11. Tower International’s dividend payout ratio (DPR) is 15.64%.
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Tower International Profile
Tower International, Inc is a global manufacturer of engineered automotive structural metal components and assemblies primarily serving original equipment manufacturers (OEMs). The Company’s product portfolio includes body-structure stampings, frame and other chassis structures, and welded assemblies for small and large cars, crossovers, pickups and sport utility vehicles (SUVs).
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