BNP Paribas Arbitrage SA reduced its stake in Tower International Inc (NYSE:TOWR) by 14.3% during the 1st quarter, Holdings Channel reports. The firm owned 17,628 shares of the auto parts company’s stock after selling 2,946 shares during the period. BNP Paribas Arbitrage SA’s holdings in Tower International were worth $489,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in TOWR. UBS Asset Management Americas Inc. purchased a new position in Tower International in the fourth quarter valued at approximately $217,000. EAM Investors LLC purchased a new position in Tower International in the fourth quarter valued at approximately $2,087,000. Bogle Investment Management L P DE purchased a new position in Tower International in the fourth quarter valued at approximately $1,066,000. Paloma Partners Management Co purchased a new position in Tower International in the fourth quarter valued at approximately $253,000. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in Tower International by 124.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 31,600 shares of the auto parts company’s stock valued at $964,000 after purchasing an additional 17,500 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.
Several equities analysts have commented on the stock. ValuEngine upgraded shares of Tower International from a “hold” rating to a “buy” rating in a research note on Saturday, June 16th. Roth Capital assumed coverage on shares of Tower International in a research note on Thursday, May 24th. They issued a “buy” rating and a $41.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Tower International from a “buy” rating to a “hold” rating in a research note on Tuesday, May 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Tower International presently has an average rating of “Buy” and a consensus target price of $35.50.
Shares of Tower International opened at $33.10 on Tuesday, according to MarketBeat.com. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.97 and a current ratio of 1.12. Tower International Inc has a 12-month low of $21.25 and a 12-month high of $34.55. The company has a market cap of $706.41 million, a PE ratio of 8.80, a price-to-earnings-growth ratio of 1.04 and a beta of 2.28.
Tower International (NYSE:TOWR) last released its earnings results on Thursday, May 3rd. The auto parts company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. Tower International had a net margin of 2.32% and a return on equity of 28.77%. The firm had revenue of $563.51 million for the quarter, compared to analyst estimates of $546.67 million. During the same period in the prior year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. analysts anticipate that Tower International Inc will post 4.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Thursday, May 10th were paid a $0.12 dividend. The ex-dividend date was Wednesday, May 9th. This represents a $0.48 annualized dividend and a yield of 1.45%. Tower International’s dividend payout ratio is currently 12.77%.
About Tower International
Tower International, Inc manufactures and sells engineered automotive structural metal components and assemblies primarily for original equipment manufacturers. It operates in two segments, North America and Europe. The company provides body structures and assemblies, including structural metal components, which comprise body pillars, roof rails, and side sills; and Class A surfaces and assemblies that consist of body sides, hoods, doors, fenders, and pickup truck boxes.
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