Squarepoint Ops LLC lowered its position in TPI Composites Inc (NASDAQ:TPIC) by 63.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,226 shares of the industrial products company’s stock after selling 17,674 shares during the period. Squarepoint Ops LLC’s holdings in TPI Composites were worth $251,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB grew its stake in shares of TPI Composites by 23.0% in the 4th quarter. Handelsbanken Fonder AB now owns 2,127,478 shares of the industrial products company’s stock worth $52,293,000 after buying an additional 397,318 shares during the last quarter. Trigran Investments Inc. boosted its stake in TPI Composites by 60.7% during the 4th quarter. Trigran Investments Inc. now owns 1,892,818 shares of the industrial products company’s stock valued at $46,525,000 after purchasing an additional 714,798 shares during the last quarter. BlackRock Inc. boosted its stake in TPI Composites by 15.9% during the 4th quarter. BlackRock Inc. now owns 1,210,068 shares of the industrial products company’s stock valued at $29,743,000 after purchasing an additional 166,062 shares during the last quarter. Vanguard Group Inc. boosted its stake in TPI Composites by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 855,782 shares of the industrial products company’s stock valued at $24,433,000 after purchasing an additional 47,096 shares during the last quarter. Finally, Vanguard Group Inc boosted its stake in TPI Composites by 5.8% during the 3rd quarter. Vanguard Group Inc now owns 855,782 shares of the industrial products company’s stock valued at $24,433,000 after purchasing an additional 47,096 shares during the last quarter. 69.57% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Thomas J. Castle sold 1,018 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.00, for a total value of $29,522.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel G. Weiss sold 10,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $31.06, for a total value of $310,600.00. Following the completion of the transaction, the director now directly owns 6,620 shares in the company, valued at $205,617.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 364,931 shares of company stock worth $11,196,208. Company insiders own 20.30% of the company’s stock.
Several brokerages have commented on TPIC. JPMorgan Chase & Co. downgraded TPI Composites from an “overweight” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research note on Tuesday, February 19th. Zacks Investment Research upgraded TPI Composites from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 14th. BidaskClub upgraded TPI Composites from a “hold” rating to a “buy” rating in a research note on Saturday, March 16th. TheStreet downgraded TPI Composites from a “b-” rating to a “c” rating in a research note on Wednesday, January 23rd. Finally, ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. TPI Composites currently has an average rating of “Buy” and an average price target of $36.94.
TPIC stock opened at $30.06 on Wednesday. The firm has a market capitalization of $1.04 billion, a PE ratio of 375.75 and a beta of 0.86. TPI Composites Inc has a 1 year low of $21.65 and a 1 year high of $32.74. The company has a current ratio of 1.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.50.
TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, February 28th. The industrial products company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.10). The firm had revenue of $290.06 million during the quarter, compared to analysts’ expectations of $303.50 million. TPI Composites had a return on equity of 0.98% and a net margin of 0.51%. On average, equities research analysts expect that TPI Composites Inc will post 1.32 earnings per share for the current fiscal year.
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TPI Composites 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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