Tower International, Inc. (TOWR) Shares Sold by Thompson Siegel & Walmsley LLC
Thompson Siegel & Walmsley LLC reduced its stake in Tower International, Inc. (NYSE:TOWR) by 34.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,224 shares of the auto parts company’s stock after selling 10,300 shares during the period. Thompson Siegel & Walmsley LLC owned about 0.09% of Tower International worth $523,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of TOWR. Thrivent Financial For Lutherans boosted its stake in shares of Tower International by 74.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 521,942 shares of the auto parts company’s stock valued at $11,718,000 after purchasing an additional 222,485 shares in the last quarter. Nationwide Fund Advisors boosted its position in Tower International by 211.8% during the 2nd quarter. Nationwide Fund Advisors now owns 118,372 shares of the auto parts company’s stock worth $2,657,000 after buying an additional 80,408 shares during the period. Prudential PLC boosted its position in Tower International by 8.2% during the 2nd quarter. Prudential PLC now owns 688,000 shares of the auto parts company’s stock worth $15,446,000 after buying an additional 52,300 shares during the period. First Quadrant L P CA acquired a new stake in Tower International during the 2nd quarter worth approximately $951,000. Finally, Geode Capital Management LLC boosted its position in Tower International by 16.5% during the 1st quarter. Geode Capital Management LLC now owns 188,995 shares of the auto parts company’s stock worth $5,121,000 after buying an additional 26,727 shares during the period. Institutional investors own 88.81% of the company’s stock.
TOWR has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Tower International from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, September 26th. BidaskClub downgraded shares of Tower International from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. ValuEngine downgraded shares of Tower International from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. B. Riley reiterated a “buy” rating on shares of Tower International in a research report on Wednesday, November 1st. Finally, TheStreet upgraded shares of Tower International from a “c+” rating to a “b” rating in a research report on Thursday, September 28th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $33.67.
Shares of Tower International, Inc. (NYSE TOWR) traded up $0.10 during midday trading on Friday, hitting $31.70. 23,712 shares of the stock were exchanged, compared to its average volume of 116,585. The firm has a market cap of $648.70, a P/E ratio of 8.78, a P/E/G ratio of 0.85 and a beta of 2.69. Tower International, Inc. has a 1 year low of $21.00 and a 1 year high of $33.65. 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 issued its quarterly earnings results on Monday, October 30th. The auto parts company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.08. The firm had revenue of $462.00 million for the quarter, compared to the consensus estimate of $451.73 million. Tower International had a net margin of 3.58% and a return on equity of 30.51%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 EPS. sell-side analysts expect that Tower International, Inc. will post 3.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be given a $0.12 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from Tower International’s previous quarterly dividend of $0.11. Tower International’s payout ratio is 14.63%.
Tower International Company 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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