Barclays PLC increased its holdings in Tower International Inc (NYSE:TOWR) by 45.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,408 shares of the auto parts company’s stock after purchasing an additional 7,341 shares during the period. Barclays PLC owned 0.11% of Tower International worth $650,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of TOWR. UBS Asset Management Americas Inc. purchased a new position in Tower International in the 4th quarter worth approximately $217,000. Paloma Partners Management Co purchased a new position in Tower International in the 4th quarter worth approximately $253,000. MetLife Investment Advisors LLC purchased a new position in Tower International in the 4th quarter worth approximately $319,000. Mackay Shields LLC purchased a new position in Tower International in the 1st quarter worth approximately $749,000. Finally, Sterling Capital Management LLC purchased a new position in Tower International in the 4th quarter worth approximately $927,000. 90.60% of the stock is currently owned by institutional investors.
A number of research firms recently commented on TOWR. ValuEngine raised Tower International from a “hold” rating to a “buy” rating in a report on Saturday, June 16th. Roth Capital started coverage on Tower International in a report on Thursday, May 24th. They issued a “buy” rating and a $41.00 price target on the stock. Finally, Zacks Investment Research cut Tower International from a “buy” rating to a “hold” rating in a report on Tuesday, May 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $35.50.
Shares of TOWR opened at $32.90 on Friday. The company has a market cap of $685.82 million, a PE ratio of 8.75, a PEG ratio of 1.01 and a beta of 2.28. Tower International Inc has a 1 year low of $21.25 and a 1 year high of $34.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.97 and a current ratio of 1.12.
Tower International (NYSE:TOWR) last issued its quarterly earnings data on Thursday, May 3rd. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The business had revenue of $563.51 million for the quarter, compared to analysts’ expectations of $546.67 million. Tower International had a return on equity of 28.77% and a net margin of 2.32%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. equities analysts forecast that Tower International Inc will post 4.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Thursday, May 10th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. Tower International’s dividend payout ratio (DPR) is 12.77%.
Tower International Company 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.
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