Geode Capital Management LLC Has $5.12 Million Position in Tower International, Inc. (NYSE:TOWR)
Geode Capital Management LLC increased its position in shares of Tower International, Inc. (NYSE:TOWR) by 16.5% during the first quarter, Holdings Channel reports. The firm owned 188,995 shares of the auto parts company’s stock after buying an additional 26,727 shares during the period. Geode Capital Management LLC’s holdings in Tower International were worth $5,121,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bogle Investment Management L P DE bought a new position in Tower International during the first quarter worth $2,662,000. California Public Employees Retirement System raised its position in Tower International by 3.2% in the first quarter. California Public Employees Retirement System now owns 121,600 shares of the auto parts company’s stock worth $3,295,000 after buying an additional 3,800 shares during the period. 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 worth $1,022,000 after buying an additional 949 shares during the period. 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 worth $342,000 after buying an additional 833 shares during the period. Finally, 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 worth $161,000 after buying an additional 1,464 shares during the period. 89.35% of the stock is owned by institutional investors.
Tower International, Inc. (NYSE TOWR) traded down 0.22% on Friday, reaching $22.40. The company had a trading volume of 77,002 shares. The company has a market capitalization of $459.67 million, a P/E ratio of 6.52 and a beta of 2.59. The stock’s 50-day moving average is $22.93 and its 200-day moving average is $24.94. Tower International, Inc. has a 52 week low of $20.85 and a 52 week high of $30.50.
Tower International (NYSE:TOWR) last issued its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $0.97 EPS for the quarter, beating 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 quarter in the prior year, the business posted $0.81 EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. Equities research analysts forecast that Tower International, Inc. will post $3.63 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be issued 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 dividend yield of 1.96%. Tower International’s dividend payout ratio is presently 12.87%.
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A number of research analysts recently weighed in on the company. ValuEngine lowered Tower International from a “strong-buy” rating to a “buy” rating in a research report on Friday. BidaskClub raised Tower International from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research lowered Tower International from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 21st. Finally, FBR & Co reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Tower International in a research report on Friday, June 30th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Tower International has an average 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).
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