Dimensional Fund Advisors LP Acquires 169,528 Shares of TPI Composites Inc (TPIC)
Dimensional Fund Advisors LP grew its holdings in shares of TPI Composites Inc (NASDAQ:TPIC) by 28.9% during the 4th quarter, Holdings Channel reports. The firm owned 755,252 shares of the industrial products company’s stock after buying an additional 169,528 shares during the period. Dimensional Fund Advisors LP’s holdings in TPI Composites were worth $18,564,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new stake in TPI Composites during the 4th quarter worth $60,000. Great West Life Assurance Co. Can acquired a new stake in TPI Composites during the 4th quarter worth $64,000. NumerixS Investment Technologies Inc acquired a new stake in TPI Composites during the 4th quarter worth $78,000. Pearl River Capital LLC acquired a new stake in TPI Composites during the 4th quarter worth $113,000. Finally, First Republic Investment Management Inc. acquired a new stake in TPI Composites during the 3rd quarter worth $210,000. 69.77% of the stock is currently owned by institutional investors.
In other news, insider Thomas J. Castle sold 1,018 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.00, for a total transaction of $29,522.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael Lawrence Derosa sold 170,625 shares of the business’s stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $29.36, for a total transaction of $5,009,550.00. Following the transaction, the director now directly owns 6,620 shares in the company, valued at approximately $194,363.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 535,556 shares of company stock worth $16,205,758. Corporate insiders own 58.20% of the company’s stock.
TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Thursday, February 28th. The industrial products company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.10). The firm had revenue of $290.06 million for the quarter, compared to analyst estimates of $303.50 million. TPI Composites had a net margin of 0.51% and a return on equity of 0.98%. As a group, analysts forecast that TPI Composites Inc will post 1.32 earnings per share for the current year.
Several equities research analysts have issued reports on TPIC shares. BidaskClub raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research note on Saturday, January 5th. Zacks Investment Research cut shares of TPI Composites from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 5th. TheStreet cut shares of TPI Composites from a “b-” rating to a “c” rating in a research note on Wednesday, January 23rd. JPMorgan Chase & Co. cut shares of TPI Composites from an “overweight” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research note on Tuesday, February 19th. Finally, ValuEngine raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $36.94.
About TPI Composites
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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