Nationwide Fund Advisors grew its stake in Tower International, Inc. (NYSE:TOWR) by 211.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 118,372 shares of the auto parts company’s stock after acquiring an additional 80,408 shares during the period. Nationwide Fund Advisors owned about 0.58% of Tower International worth $2,657,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in shares of Tower International by 32.7% in the 1st quarter. SG Americas Securities LLC now owns 5,944 shares of the auto parts company’s stock valued at $161,000 after acquiring an additional 1,464 shares during the period. Bowling Portfolio Management LLC purchased a new stake in shares of Tower International in the 2nd quarter valued at approximately $225,000. Cigna Investments Inc. New purchased a new stake in shares of Tower International in the 2nd quarter valued at approximately $317,000. American International Group Inc. raised its stake in shares of Tower International by 7.1% in the 1st quarter. American International Group Inc. now owns 12,627 shares of the auto parts company’s stock valued at $342,000 after acquiring an additional 833 shares during the period. Finally, Capital Fund Management S.A. purchased a new stake in shares of Tower International in the 2nd quarter valued at approximately $404,000. 88.72% of the stock is currently owned by institutional investors and hedge funds.
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Tower International, Inc. (TOWR) opened at 27.60 on Friday. Tower International, Inc. has a 12-month low of $20.85 and a 12-month high of $30.50. The firm’s 50-day moving average is $24.74 and its 200 day moving average is $24.07. The firm has a market cap of $566.38 million, a PE ratio of 8.03 and a beta of 2.69.
Tower International (NYSE:TOWR) last posted its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $489.93 million for the quarter, compared to analyst estimates of $494.87 million. Tower International had a net margin of 3.76% and a return on equity of 33.20%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 earnings per share. Equities research analysts predict that Tower International, Inc. will post $3.63 EPS for the current year.
Several equities research analysts recently weighed in on TOWR shares. TheStreet raised shares of Tower International from a “c+” rating to a “b” rating in a research note on Thursday, September 28th. Zacks Investment Research raised shares of Tower International from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Tuesday, September 26th. ValuEngine raised shares of Tower International from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. BidaskClub raised shares of Tower International from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $40.00 target price on shares of Tower International in a research note on Friday, June 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $31.50.
Tower International Profile
Tower International, Inc is a global manufacturer of engineered automotive structural metal components and assemblies primarily serving original equipment manufacturers (OEMs). The Company’s product portfolio includes body-structure stampings, frame and other chassis structures, and welded assemblies for small and large cars, crossovers, pickups and sport utility vehicles (SUVs).
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