TPI Composites, Inc. (TPIC) Holdings Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. grew its position in TPI Composites, Inc. (NASDAQ:TPIC) by 558.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,787 shares of the industrial products company’s stock after purchasing an additional 138,053 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.50% of TPI Composites worth $3,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of TPIC. Wells Fargo & Company MN boosted its position in shares of TPI Composites by 260.5% in the first quarter. Wells Fargo & Company MN now owns 7,750 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 5,600 shares during the period. First Trust Advisors LP bought a new position in shares of TPI Composites in the first quarter worth approximately $572,000. Oxford Asset Management bought a new position in shares of TPI Composites in the first quarter worth approximately $210,000. JPMorgan Chase & Co. bought a new position in shares of TPI Composites in the first quarter worth approximately $205,000. Finally, Geode Capital Management LLC boosted its position in shares of TPI Composites by 50.9% in the first quarter. Geode Capital Management LLC now owns 94,939 shares of the industrial products company’s stock worth $1,804,000 after purchasing an additional 32,038 shares during the period. Institutional investors and hedge funds own 32.87% of the company’s stock.
TPI Composites, Inc. (NASDAQ:TPIC) opened at 23.44 on Friday. The firm has a 50 day moving average of $22.05 and a 200-day moving average of $22.05. The company has a market capitalization of $768.81 million, a price-to-earnings ratio of 43.98 and a beta of -0.28. TPI Composites, Inc. has a 52-week low of $13.27 and a 52-week high of $23.80.
TPI Composites (NASDAQ:TPIC) last posted its earnings results on Tuesday, August 8th. The industrial products company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.27. The firm had revenue of $248.19 million during the quarter, compared to analyst estimates of $225.36 million. TPI Composites had a net margin of 2.18% and a return on equity of 18.24%. TPI Composites’s revenue for the quarter was up 27.8% on a year-over-year basis. Equities analysts expect that TPI Composites, Inc. will post $0.92 EPS for the current year.
A number of equities analysts have weighed in on the stock. Roth Capital upped their price target on shares of TPI Composites from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. J P Morgan Chase & Co lowered shares of TPI Composites from an “overweight” rating to a “neutral” rating and set a $27.00 price target for the company. in a research report on Friday, August 11th. Zacks Investment Research upgraded shares of TPI Composites from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a research report on Wednesday, October 11th. Finally, Cowen and Company set a $26.00 price target on shares of TPI Composites and gave the stock a “buy” rating in a research report on Friday, August 4th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $25.00.
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In related news, Director Jack A. Henry purchased 3,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average price of $21.70 per share, with a total value of $73,780.00. Following the purchase, the director now owns 13,800 shares of the company’s stock, valued at $299,460. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 73.70% of the stock is owned by insiders.
TPI Composites Profile
TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.
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