Mackay Shields LLC Invests $749,000 in Tower International Inc (TOWR) Stock

Mackay Shields LLC bought a new position in shares of Tower International Inc (NYSE:TOWR) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 26,981 shares of the auto parts company’s stock, valued at approximately $749,000. Mackay Shields LLC owned 0.13% of Tower International as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in TOWR. EAM Investors LLC bought a new stake in Tower International during the fourth quarter worth approximately $2,087,000. Bogle Investment Management L P DE bought a new stake in Tower International during the fourth quarter worth approximately $1,066,000. Sterling Capital Management LLC bought a new stake in Tower International during the fourth quarter worth approximately $927,000. Cornerstone Capital Management Holdings LLC. boosted its position in Tower International by 124.1% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 31,600 shares of the auto parts company’s stock worth $964,000 after purchasing an additional 17,500 shares during the period. Finally, MetLife Investment Advisors LLC bought a new stake in Tower International during the fourth quarter worth approximately $319,000. 90.68% of the stock is owned by hedge funds and other institutional investors.

Shares of Tower International opened at $29.25 on Friday, Marketbeat reports. Tower International Inc has a 12 month low of $21.00 and a 12 month high of $33.65. The company has a market cap of $595.20 million, a PE ratio of 7.78, a price-to-earnings-growth ratio of 0.87 and a beta of 2.33. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.12 and a quick ratio of 0.97.

Tower International (NYSE:TOWR) last issued its quarterly earnings results on Thursday, May 3rd. The auto parts company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. Tower International had a return on equity of 28.77% and a net margin of 2.32%. The company had revenue of $563.51 million during the quarter, compared to analyst estimates of $546.67 million. During the same period in the previous year, the company earned $0.76 earnings per share. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. equities analysts anticipate that Tower International Inc will post 4.14 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 10th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.64%. Tower International’s dividend payout ratio (DPR) is presently 12.77%.

A number of research analysts have recently commented on the company. Roth Capital assumed coverage on Tower International in a report on Thursday. They set a “buy” rating and a $41.00 price target for the company. ValuEngine upgraded Tower International from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. Zacks Investment Research lowered Tower International from a “buy” rating to a “hold” rating in a report on Tuesday, May 8th. Finally, 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, February 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $35.50.

Tower International Profile

Tower International, Inc manufactures and sells engineered automotive structural metal components and assemblies primarily for original equipment manufacturers. It operates in two segments, North America and Europe. The company provides body structures and assemblies, including structural metal components, which comprise body pillars, roof rails, and side sills; and Class A surfaces and assemblies that consist of body sides, hoods, doors, fenders, and pickup truck boxes.

Want to see what other hedge funds are holding TOWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tower International Inc (NYSE:TOWR).

Institutional Ownership by Quarter for Tower International (NYSE:TOWR)

Receive News & Ratings for Tower International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tower International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply