Wells Fargo & Company MN cut its stake in shares of Tower International Inc (NYSE:TOWR) by 7.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,531 shares of the auto parts company’s stock after selling 16,936 shares during the quarter. Wells Fargo & Company MN owned 1.00% of Tower International worth $5,704,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. EAM Investors LLC bought a new stake in shares of Tower International during the 4th quarter valued at approximately $2,087,000. Bogle Investment Management L P DE acquired a new stake in Tower International during the 4th quarter worth approximately $1,066,000. Cornerstone Capital Management Holdings LLC. boosted its position in Tower International by 124.1% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 31,600 shares of the auto parts company’s stock worth $964,000 after buying an additional 17,500 shares during the period. Sterling Capital Management LLC acquired a new stake in Tower International during the 4th quarter worth approximately $927,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Tower International during the 4th quarter worth approximately $319,000. 90.60% of the stock is currently owned by institutional investors.
TOWR has been the topic of several recent research reports. ValuEngine upgraded shares of Tower International from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 6th. Roth Capital initiated coverage on shares of Tower International in a research report on Thursday, May 24th. They set a “buy” rating and a $41.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Tower International from a “buy” rating to a “hold” rating in a research report on Tuesday, May 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Tower International presently has a consensus rating of “Buy” and an average price target of $35.50.
NYSE:TOWR opened at $32.90 on Friday. The company has a market cap of $685.82 million, a P/E ratio of 8.75, a price-to-earnings-growth ratio of 1.01 and a beta of 2.28. Tower International Inc has a one year low of $21.25 and a one 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 results on Thursday, May 3rd. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The firm had revenue of $563.51 million for the quarter, compared to the consensus estimate of $546.67 million. Tower International had a net margin of 2.32% and a return on equity of 28.77%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS. analysts expect that Tower International Inc will post 4.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Thursday, May 10th were given a $0.12 dividend. The ex-dividend date was Wednesday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.46%. Tower International’s dividend payout ratio (DPR) is currently 12.77%.
About Tower International
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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