Russell Investments Group Ltd. grew its stake in Tower International Inc (NYSE:TOWR) by 340.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 197,016 shares of the auto parts company’s stock after purchasing an additional 152,251 shares during the quarter. Russell Investments Group Ltd.’s holdings in Tower International were worth $6,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Tower International during the second quarter worth about $234,000. Hartford Investment Management Co. bought a new position in Tower International during the second quarter worth about $271,000. Element Capital Management LLC bought a new position in Tower International during the first quarter worth about $387,000. Segall Bryant & Hamill LLC bought a new position in Tower International during the first quarter worth about $493,000. Finally, Barclays PLC grew its holdings in Tower International by 45.7% during the first quarter. Barclays PLC now owns 23,408 shares of the auto parts company’s stock worth $650,000 after purchasing an additional 7,341 shares during the period. Institutional investors own 89.95% of the company’s stock.

In other news, COO Michael Rajkovic sold 17,764 shares of the business’s stock in a transaction that occurred on Tuesday, June 26th. The stock was sold at an average price of $33.38, for a total transaction of $592,962.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.20% of the company’s stock.

TOWR has been the subject of a number of research analyst reports. Citigroup lifted their price target on Tower International from $29.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. ValuEngine cut Tower International from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Roth Capital initiated coverage on Tower International in a report on Thursday, May 24th. They set a “buy” rating and a $41.00 price target for the company. Finally, Zacks Investment Research upgraded Tower International from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $35.20.

Shares of NYSE:TOWR opened at $31.65 on Thursday. Tower International Inc has a 12-month low of $23.05 and a 12-month high of $36.65. The company has a market cap of $670.66 million, a PE ratio of 8.28, a PEG ratio of 0.99 and a beta of 2.26. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.16 and a quick ratio of 0.98.

Tower International (NYSE:TOWR) last issued its quarterly earnings data on Tuesday, July 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. Tower International had a return on equity of 28.42% and a net margin of 2.39%. The company had revenue of $556.01 million during the quarter, compared to analysts’ expectations of $554.90 million. During the same quarter in the previous year, the company posted $0.97 earnings per share. The business’s revenue was up 13.5% on a year-over-year basis. sell-side analysts predict that Tower International Inc will post 4.12 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Thursday, August 9th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Wednesday, August 8th. Tower International’s dividend payout ratio is presently 12.77%.

Tower International Profile

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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Institutional Ownership by Quarter for Tower International (NYSE:TOWR)

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