Sterling Capital Management LLC Buys Shares of 36,106 TPI Composites Inc (TPIC)
Sterling Capital Management LLC bought a new position in TPI Composites Inc (NASDAQ:TPIC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 36,106 shares of the industrial products company’s stock, valued at approximately $807,000. Sterling Capital Management LLC owned approximately 0.11% of TPI Composites as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Geode Capital Management LLC lifted its stake 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 buying an additional 32,038 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of TPI Composites in the first quarter worth $1,042,000. Schwab Charles Investment Management Inc. lifted its stake in shares of TPI Composites by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 24,734 shares of the industrial products company’s stock worth $471,000 after buying an additional 1,368 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of TPI Composites in the first quarter worth $444,000. Finally, Sei Investments Co. lifted its stake in shares of TPI Composites by 916.3% in the second quarter. Sei Investments Co. now owns 7,734 shares of the industrial products company’s stock worth $143,000 after buying an additional 6,973 shares during the last quarter. 33.89% of the stock is owned by institutional investors.
In other news, major shareholder Investors L. P. Angeleno II sold 32,388 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $18.79, for a total value of $608,570.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel G. Weiss sold 51,000 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $19.14, for a total transaction of $976,140.00. Following the completion of the transaction, the director now owns 2,880 shares of the company’s stock, valued at approximately $55,123.20. The disclosure for this sale can be found here. 73.70% of the stock is owned by corporate insiders.
TPI Composites Inc (NASDAQ TPIC) opened at $20.11 on Thursday. The company has a market cap of $666.94, a price-to-earnings ratio of 17.67 and a beta of -1.39. TPI Composites Inc has a one year low of $14.95 and a one year high of $26.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 1.32.
TPI Composites (NASDAQ:TPIC) last released its earnings results on Wednesday, November 8th. The industrial products company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.36. The firm had revenue of $243.35 million during the quarter, compared to analysts’ expectations of $252.42 million. TPI Composites had a net margin of 4.09% and a return on equity of 30.80%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. equities analysts predict that TPI Composites Inc will post 1.3 earnings per share for the current year.
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TPI Composites Company 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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