Alambic Investment Management L.P. lessened its stake in shares of Tower International Inc (NYSE:TOWR) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,900 shares of the auto parts company’s stock after selling 5,100 shares during the period. Alambic Investment Management L.P. owned 0.13% of Tower International worth $822,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Eqis Capital Management Inc. grew its stake in shares of Tower International by 52.6% in the fourth quarter. Eqis Capital Management Inc. now owns 14,514 shares of the auto parts company’s stock worth $443,000 after acquiring an additional 5,002 shares during the last quarter. Delphi Management Inc. MA bought a new position in Tower International in the third quarter worth $215,000. California Public Employees Retirement System lifted its position in Tower International by 5.8% in the third quarter. California Public Employees Retirement System now owns 123,628 shares of the auto parts company’s stock worth $3,363,000 after purchasing an additional 6,728 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its position in Tower International by 41.0% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 14,100 shares of the auto parts company’s stock worth $383,000 after purchasing an additional 4,100 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Tower International by 0.3% in the third quarter. Ameriprise Financial Inc. now owns 647,441 shares of the auto parts company’s stock worth $17,610,000 after purchasing an additional 2,015 shares during the period. Institutional investors own 89.84% of the company’s stock.
Tower International Inc (NYSE:TOWR) opened at $28.45 on Thursday. The stock has a market capitalization of $519.37, a PE ratio of 12.48, a PEG ratio of 0.62 and a beta of 2.48. Tower International Inc has a 12-month low of $21.00 and a 12-month high of $33.65. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 1.32.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, February 9th will be given a $0.12 dividend. The ex-dividend date is Thursday, February 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.69%. Tower International’s dividend payout ratio is presently 21.05%.
A number of brokerages have issued reports on TOWR. B. Riley reissued a “buy” rating on shares of Tower International in a report on Wednesday, November 1st. Zacks Investment Research cut Tower International from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. JPMorgan Chase & Co. cut their price target on Tower International from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday. ValuEngine cut Tower International from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, BidaskClub cut Tower International from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $34.00.
Tower International 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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