Thompson Siegel & Walmsley LLC grew its position in shares of Tower International, Inc. (NYSE:TOWR) by 2.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 29,524 shares of the auto parts company’s stock after acquiring an additional 577 shares during the period. Thompson Siegel & Walmsley LLC owned about 0.14% of Tower International worth $663,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in Tower International by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 263,023 shares of the auto parts company’s stock worth $5,905,000 after purchasing an additional 1,136 shares during the period. Geode Capital Management LLC raised its holdings in Tower International by 16.5% in the 1st quarter. Geode Capital Management LLC now owns 188,995 shares of the auto parts company’s stock worth $5,121,000 after purchasing an additional 26,727 shares during the period. California Public Employees Retirement System raised its holdings in Tower International by 3.2% in the 1st quarter. California Public Employees Retirement System now owns 121,600 shares of the auto parts company’s stock worth $3,295,000 after purchasing an additional 3,800 shares during the period. Bogle Investment Management L P DE bought a new stake in Tower International during the first quarter valued at about $2,662,000. Finally, Russell Investments Group Ltd. raised its holdings in Tower International by 3.9% during the second quarter. Russell Investments Group Ltd. now owns 64,678 shares of the auto parts company’s stock valued at $1,453,000 after acquiring an additional 2,440 shares during the period. Hedge funds and other institutional investors own 88.68% of the company’s stock.
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Tower International, Inc. (NYSE:TOWR) traded up 0.43% during mid-day trading on Friday, hitting $23.55. 36,308 shares of the stock traded hands. The stock has a 50-day moving average price of $22.98 and a 200-day moving average price of $24.26. The stock has a market cap of $483.27 million, a P/E ratio of 6.85 and a beta of 2.65. Tower International, Inc. has a 12 month low of $20.85 and a 12 month high of $30.50.
Tower International (NYSE:TOWR) last posted its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. Tower International had a net margin of 3.76% and a return on equity of 33.20%. The business had revenue of $489.93 million during the quarter, compared to analyst estimates of $494.87 million. During the same quarter in the previous year, the business posted $0.81 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. On average, equities analysts forecast that Tower International, Inc. will post $3.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 8th. This represents a $0.44 annualized dividend and a yield of 1.88%. Tower International’s dividend payout ratio is currently 12.87%.
A number of research firms have commented on TOWR. BidaskClub raised Tower International from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research upgraded Tower International from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a research report on Thursday, July 20th. ValuEngine upgraded Tower International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, FBR & Co reiterated an “outperform” rating and issued a $40.00 price target on shares of Tower International in a research report on Friday, June 30th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Tower International has a consensus rating of “Hold” and an average price target of $31.25.
Tower International Company 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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