Tudor Investment Corp Et Al Cuts Stake in Tower International Inc (TOWR)
Tudor Investment Corp Et Al lowered its position in Tower International Inc (NYSE:TOWR) by 56.5% during the fourth quarter, Holdings Channel reports. The fund owned 9,950 shares of the company’s stock after selling 12,939 shares during the period. Tudor Investment Corp Et Al’s holdings in Tower International were worth $282,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of TOWR. LSV Asset Management boosted its stake in shares of Tower International by 31.0% in the third quarter. LSV Asset Management now owns 765,280 shares of the company’s stock worth $18,443,000 after buying an additional 180,967 shares during the last quarter. Prudential PLC boosted its stake in shares of Tower International by 18.1% in the fourth quarter. Prudential PLC now owns 554,100 shares of the company’s stock worth $15,709,000 after buying an additional 85,100 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of Tower International during the third quarter worth about $10,793,000. State Street Corp boosted its stake in shares of Tower International by 4.8% in the fourth quarter. State Street Corp now owns 388,819 shares of the company’s stock worth $11,024,000 after buying an additional 17,969 shares during the last quarter. Finally, Phocas Financial Corp. purchased a new stake in shares of Tower International during the third quarter worth about $5,170,000. Institutional investors and hedge funds own 89.13% of the company’s stock.
Tower International Inc (NYSE:TOWR) opened at 28.00 on Tuesday. Tower International Inc has a 12-month low of $18.75 and a 12-month high of $29.05. The firm has a 50-day moving average price of $27.25 and a 200-day moving average price of $25.71. The stock has a market cap of $619.86 million, a PE ratio of 15.39 and a beta of 1.94.
Tower International (NYSE:TOWR) last announced its quarterly earnings data on Tuesday, February 14th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.06. The firm earned $462.30 million during the quarter, compared to the consensus estimate of $465.15 million. Tower International had a return on equity of 148.27% and a net margin of 8.48%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 EPS. Analysts forecast that Tower International Inc will post $3.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Friday, February 10th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.57%. The ex-dividend date was Wednesday, February 8th. Tower International’s dividend payout ratio is currently 5.66%.
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TOWR has been the subject of a number of research reports. FBR & Co reiterated an “outperform” rating and set a $40.00 target price on shares of Tower International in a report on Wednesday, January 25th. Zacks Investment Research cut Tower International from a “buy” rating to a “hold” rating in a report on Friday, November 25th. Finally, Citigroup Inc cut Tower International from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $29.00 to $30.00 in a report on Wednesday, February 15th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $31.17.
In related news, COO Michael Rajkovic sold 60,000 shares of the stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $28.07, for a total value of $1,684,200.00. Following the completion of the sale, the chief operating officer now directly owns 15,312 shares of the company’s stock, valued at approximately $429,807.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.
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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