TIAA CREF Investment Management LLC lowered its stake in Tower International, Inc. (NYSE:TOWR) by 30.5% during the first quarter, Holdings Channel reports. The institutional investor owned 55,909 shares of the auto parts company’s stock after selling 24,578 shares during the period. TIAA CREF Investment Management LLC’s holdings in Tower International were worth $1,515,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in Tower International by 32.7% in the first quarter. SG Americas Securities LLC now owns 5,944 shares of the auto parts company’s stock valued at $161,000 after buying an additional 1,464 shares in the last quarter. Gamco Investors INC. ET AL raised its position in Tower International by 9.1% in the first quarter. Gamco Investors INC. ET AL now owns 10,800 shares of the auto parts company’s stock valued at $293,000 after buying an additional 900 shares in the last quarter. American International Group Inc. raised its position in Tower International by 7.1% in the first quarter. American International Group Inc. now owns 12,627 shares of the auto parts company’s stock valued at $342,000 after buying an additional 833 shares in the last quarter. Alambic Investment Management L.P. raised its position in Tower International by 10.2% in the first quarter. Alambic Investment Management L.P. now owns 34,500 shares of the auto parts company’s stock valued at $935,000 after buying an additional 3,200 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in Tower International by 2.6% in the first quarter. Teachers Advisors LLC now owns 37,704 shares of the auto parts company’s stock valued at $1,022,000 after buying an additional 949 shares in the last quarter. Institutional investors and hedge funds own 89.35% of the company’s stock.

Tower International, Inc. (TOWR) traded down 0.22% during trading on Friday, hitting $22.40. 77,002 shares of the stock traded hands. Tower International, Inc. has a one year low of $20.85 and a one year high of $30.50. The stock has a market cap of $459.67 million, a PE ratio of 6.52 and a beta of 2.59. The company has a 50-day moving average price of $22.93 and a 200 day moving average price of $24.94.

Tower International (NYSE:TOWR) last released its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. Tower International had a return on equity of 33.20% and a net margin of 3.76%. The firm had revenue of $489.93 million during the quarter, compared to analyst estimates of $494.87 million. During the same period in the prior year, the company posted $0.81 earnings per share. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. Analysts expect that Tower International, Inc. will post $3.63 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.44 annualized dividend and a yield of 1.96%. Tower International’s dividend payout ratio is currently 12.87%.

COPYRIGHT VIOLATION NOTICE: “TIAA CREF Investment Management LLC Sells 24,578 Shares of Tower International, Inc. (TOWR)” was published by Daily Political and is the property of of Daily Political. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://www.dailypolitical.com/2017/08/12/tiaa-cref-investment-management-llc-sells-24578-shares-of-tower-international-inc-towr.html.

Several equities analysts have recently commented on the stock. ValuEngine lowered shares of Tower International from a “strong-buy” rating to a “buy” rating in a research report on Friday. BidaskClub upgraded shares of Tower International from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. FBR & Co restated an “outperform” rating and set a $40.00 price target on shares of Tower International in a research report on Monday, June 12th. Finally, Zacks Investment Research upgraded shares of Tower International from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, April 26th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price 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).

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