Granite Investment Partners LLC reduced its stake in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 38.7% during the second quarter, Holdings Channel reports. The institutional investor owned 64,175 shares of the industrial products company’s stock after selling 40,439 shares during the period. Granite Investment Partners LLC’s holdings in TPI Composites were worth $1,186,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TPIC. Sei Investments Co. boosted its stake in TPI Composites by 916.3% in the second quarter. Sei Investments Co. now owns 7,734 shares of the industrial products company’s stock valued at $143,000 after buying an additional 6,973 shares in the last quarter. Wells Fargo & Company MN boosted its stake in TPI Composites by 260.5% in the first quarter. Wells Fargo & Company MN now owns 7,750 shares of the industrial products company’s stock valued at $147,000 after buying an additional 5,600 shares in the last quarter. Trexquant Investment LP acquired a new stake in TPI Composites during the first quarter valued at $198,000. JPMorgan Chase & Co. acquired a new stake in TPI Composites during the first quarter valued at $205,000. Finally, Oxford Asset Management acquired a new stake in TPI Composites during the first quarter valued at $210,000. 25.29% of the stock is owned by institutional investors.

TPI Composites, Inc. (NASDAQ TPIC) opened at 21.07 on Friday. TPI Composites, Inc. has a 12 month low of $13.27 and a 12 month high of $23.30. The company has a market capitalization of $691.07 million and a PE ratio of 39.53. The company has a 50-day moving average price of $18.98 and a 200 day moving average price of $18.26.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.27. The business had revenue of $248.19 million during the quarter, compared to the consensus estimate of $225.36 million. TPI Composites had a return on equity of 18.24% and a net margin of 2.18%. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, equities research analysts forecast that TPI Composites, Inc. will post $0.91 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Granite Investment Partners LLC Decreases Position in TPI Composites, Inc. (NASDAQ:TPIC)” was first posted by Daily Political and is owned by of Daily Political. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://www.dailypolitical.com/2017/08/13/granite-investment-partners-llc-decreases-position-in-tpi-composites-inc-nasdaqtpic.html.

TPIC has been the subject of several research reports. Roth Capital set a $23.00 price objective on TPI Composites and gave the company a “buy” rating in a research report on Saturday, May 27th. Barclays PLC set a $23.00 price objective on TPI Composites and gave the company a “buy” rating in a research report on Monday, May 8th. Cowen and Company set a $26.00 price objective on TPI Composites and gave the company a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research raised TPI Composites from a “sell” rating to a “hold” rating in a research report on Friday. Finally, J P Morgan Chase & Co cut TPI Composites from an “overweight” rating to a “neutral” rating and set a $27.00 target price for the company. in a research report on Friday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. TPI Composites presently has a consensus rating of “Buy” and an average target price of $24.14.

In related news, major shareholder Element Partners Ii Intrafund sold 1,132,572 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $16.35, for a total value of $18,517,552.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven C. Lockard sold 135,333 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $16.35, for a total value of $2,212,694.55. Following the completion of the sale, the insider now owns 155,561 shares of the company’s stock, valued at $2,543,422.35. The disclosure for this sale can be found here. Insiders sold a total of 2,513,253 shares of company stock valued at $41,091,687 over the last 90 days. 73.70% of the stock is currently owned by corporate insiders.

TPI Composites Company Profile

TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.

Want to see what other hedge funds are holding TPIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TPI Composites, Inc. (NASDAQ:TPIC).

Institutional Ownership by Quarter for TPI Composites (NASDAQ:TPIC)

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