Zacks Investment Research cut shares of Tower International Inc. (NYSE:TOWR) from a buy rating to a hold rating in a research note issued to investors on Friday.

According to Zacks, “TA Delaware, Inc. is engaged in the manufacture of engineered structural metal components and assemblies primarily serving automotive original equipment manufacturers. It offers its automotive customers body-structure stampings, frame and other chassis structures, as well as complex welded assemblies, for small and large cars, crossovers, pickups and SUVs. Its manufacturing operations consist primarily of stamping and welding operations, system and modular assembly operations, coating, and other ancillary operations. The Company uses various grades and thicknesses of steel and aluminum; including high-strength, hot- and cold-rolled, galvanized, organically coated, stainless, and aluminized steel; for the manufacture of its products. TA Delaware, Inc. is headquartered in Livonia, Michigan. “

A number of other analysts have also recently commented on the stock. Seaport Global Securities initiated coverage on shares of Tower International in a research note on Tuesday, August 9th. They issued a buy rating and a $35.00 target price for the company. JPMorgan Chase & Co. restated a hold rating and set a $28.00 price objective on shares of Tower International in a research note on Thursday, November 3rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $31.40.

Tower International (NYSE:TOWR) opened at 26.20 on Friday. The stock has a market capitalization of $532.88 million, a PE ratio of 3.36 and a beta of 1.90. Tower International has a 1-year low of $18.75 and a 1-year high of $31.27. The company’s 50-day moving average is $23.67 and its 200 day moving average is $22.69.

Tower International (NYSE:TOWR) last released its earnings results on Wednesday, November 2nd. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The company earned $457 million during the quarter, compared to analysts’ expectations of $468.20 million. Tower International had a net margin of 8.48% and a return on equity of 148.27%. Tower International’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.54 EPS. Equities analysts predict that Tower International will post $3.31 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Thursday, November 10th will be paid a $0.11 dividend. This is a boost from Tower International’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Tuesday, November 8th. Tower International’s payout ratio is currently 5.66%.

Several institutional investors have recently bought and sold shares of the stock. Towle & Co. purchased a new position in Tower International during the second quarter valued at about $13,584,000. Peregrine Capital Management LLC purchased a new position in Tower International during the third quarter valued at about $10,793,000. Thrivent Financial for Lutherans boosted its position in Tower International by 642.7% in the second quarter. Thrivent Financial for Lutherans now owns 375,040 shares of the company’s stock valued at $7,718,000 after buying an additional 324,540 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in Tower International by 557.1% in the second quarter. Wedge Capital Management L L P NC now owns 342,274 shares of the company’s stock valued at $16,463,000 after buying an additional 290,182 shares in the last quarter. Finally, Phocas Financial Corp. purchased a new position in Tower International during the third quarter valued at about $5,170,000. Hedge funds and other institutional investors own 90.53% of the company’s stock.

About Tower International

Tower International, Inc is a global manufacturer of engineered automotive structural metal components and assemblies primarily serving original equipment manufacturers (OEMs). The Company operates in two segments: Americas and International. The International segment consists of Europe and Asia, and the Americas segment consists of North America and South America.

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