Handelsbanken Fonder AB trimmed its stake in TPI Composites Inc (NASDAQ:TPIC) by 18.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,733,947 shares of the industrial products company’s stock after selling 393,531 shares during the quarter. Handelsbanken Fonder AB’s holdings in TPI Composites were worth $49,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NumerixS Investment Technologies Inc purchased a new stake in shares of TPI Composites in the fourth quarter worth approximately $78,000. Sycomore Asset Management bought a new position in TPI Composites during the fourth quarter valued at approximately $3,804,000. Macquarie Group Ltd. raised its position in TPI Composites by 6,633.0% during the fourth quarter. Macquarie Group Ltd. now owns 6,935 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 6,832 shares in the last quarter. Hamilton Lane Advisors LLC bought a new position in TPI Composites during the first quarter valued at approximately $894,000. Finally, Elk Creek Partners LLC bought a new position in TPI Composites during the fourth quarter valued at approximately $5,391,000. 78.80% of the stock is owned by institutional investors and hedge funds.

In other TPI Composites news, insider Thomas J. Castle sold 1,018 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.00, for a total transaction of $29,522.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen Bransfield purchased 4,000 shares of the stock in a transaction on Thursday, May 16th. The shares were bought at an average price of $22.85 per share, for a total transaction of $91,400.00. Following the acquisition, the director now owns 23,137 shares of the company’s stock, valued at $528,680.45. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 21,018 shares of company stock worth $650,222. Corporate insiders own 20.30% of the company’s stock.

TPIC traded up $0.02 during midday trading on Wednesday, hitting $22.00. 1,508 shares of the company’s stock traded hands, compared to its average volume of 602,830. TPI Composites Inc has a one year low of $21.67 and a one year high of $32.74. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.31 and a current ratio of 1.33. The firm has a market cap of $765.43 million, a PE ratio of 272.63 and a beta of 0.88.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.02. TPI Composites had a negative return on equity of 8.24% and a negative net margin of 1.44%. The company had revenue of $299.78 million for the quarter, compared to the consensus estimate of $300.16 million. On average, sell-side analysts anticipate that TPI Composites Inc will post -0.06 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of TPI Composites from an “overweight” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research report on Tuesday, February 19th. Zacks Investment Research raised shares of TPI Composites from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 14th. BidaskClub raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research report on Saturday, March 16th. Finally, ValuEngine lowered shares of TPI Composites from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. TPI Composites has an average rating of “Buy” and a consensus price target of $36.72.

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TPI Composites Company Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.

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

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