Russell Investments Group Ltd. grew its position in shares of TPI Composites Inc (NASDAQ:TPIC) by 41.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 345,050 shares of the industrial products company’s stock after acquiring an additional 101,551 shares during the period. Russell Investments Group Ltd. owned about 1.00% of TPI Composites worth $9,854,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. First Trust Advisors LP raised its stake in TPI Composites by 165.7% during the 3rd quarter. First Trust Advisors LP now owns 134,340 shares of the industrial products company’s stock valued at $3,835,000 after buying an additional 83,780 shares during the last quarter. Handelsinvest Investeringsforvaltning raised its stake in TPI Composites by 9.4% during the 3rd quarter. Handelsinvest Investeringsforvaltning now owns 350,000 shares of the industrial products company’s stock valued at $9,993,000 after buying an additional 30,000 shares during the last quarter. First Quadrant L P CA raised its stake in TPI Composites by 155.0% during the 3rd quarter. First Quadrant L P CA now owns 4,852 shares of the industrial products company’s stock valued at $139,000 after buying an additional 2,949 shares during the last quarter. Skylands Capital LLC raised its stake in TPI Composites by 43.6% during the 3rd quarter. Skylands Capital LLC now owns 61,750 shares of the industrial products company’s stock valued at $1,763,000 after buying an additional 18,750 shares during the last quarter. Finally, Eidelman Virant Capital purchased a new stake in shares of TPI Composites in the 3rd quarter worth $1,133,000. 51.67% of the stock is currently owned by hedge funds and other institutional investors.
In other TPI Composites news, Director Daniel G. Weiss sold 48,080 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $27.60, for a total value of $1,327,008.00. Following the completion of the sale, the director now owns 6,620 shares in the company, valued at approximately $182,712. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Lawrence Derosa sold 55,476 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $23.59, for a total value of $1,308,678.84. Following the completion of the sale, the director now owns 6,620 shares of the company’s stock, valued at approximately $156,165.80. The disclosure for this sale can be found here. Insiders sold a total of 2,701,894 shares of company stock valued at $73,090,365 in the last quarter. 58.20% of the stock is currently owned by company insiders.
NASDAQ:TPIC opened at $24.57 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.55 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $829.64 million, a PE ratio of 19.66 and a beta of 0.13. TPI Composites Inc has a one year low of $16.35 and a one year high of $32.22.
TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.26 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.34. The firm had revenue of $255.00 million during the quarter, compared to analyst estimates of $258.35 million. TPI Composites had a return on equity of 5.74% and a net margin of 2.03%. TPI Composites’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS. Sell-side analysts expect that TPI Composites Inc will post 0.36 EPS for the current fiscal year.
Several research firms have recently commented on TPIC. ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group set a $30.00 price objective on TPI Composites and gave the stock a “buy” rating in a research note on Friday, November 9th. Cowen set a $33.00 price objective on TPI Composites and gave the stock a “buy” rating in a research note on Thursday, November 8th. JMP Securities set a $39.00 price objective on TPI Composites and gave the stock a “buy” rating in a research note on Thursday, November 8th. Finally, Zacks Investment Research lowered TPI Composites from a “hold” rating to a “sell” rating in a research note on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. TPI Composites has an average rating of “Buy” and a consensus price target of $34.61.
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TPI Composites Company Profile
TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.
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