Tower International Inc (NYSE:TOWR) Position Cut by MetLife Investment Advisors LLC

MetLife Investment Advisors LLC lowered its position in Tower International Inc (NYSE:TOWR) by 32.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,455 shares of the auto parts company’s stock after selling 5,004 shares during the period. MetLife Investment Advisors LLC owned 0.05% of Tower International worth $249,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Oberweis Asset Management Inc. increased its holdings in Tower International by 21.5% during the 4th quarter. Oberweis Asset Management Inc. now owns 19,180 shares of the auto parts company’s stock worth $456,000 after purchasing an additional 3,400 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Tower International by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 220,387 shares of the auto parts company’s stock worth $5,245,000 after buying an additional 15,455 shares during the last quarter. Prudential PLC boosted its stake in shares of Tower International by 2.8% during the 4th quarter. Prudential PLC now owns 555,800 shares of the auto parts company’s stock worth $13,228,000 after buying an additional 15,300 shares during the last quarter. United Services Automobile Association boosted its stake in shares of Tower International by 12.8% during the 4th quarter. United Services Automobile Association now owns 10,079 shares of the auto parts company’s stock worth $240,000 after buying an additional 1,146 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Tower International by 6.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,775 shares of the auto parts company’s stock worth $613,000 after buying an additional 1,650 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.

NYSE:TOWR traded down $0.38 during mid-day trading on Friday, reaching $20.56. The stock had a trading volume of 146,795 shares, compared to its average volume of 108,929. The stock has a market capitalization of $433.22 million, a price-to-earnings ratio of 5.87 and a beta of 2.07. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.39 and a quick ratio of 1.44. Tower International Inc has a 12 month low of $19.99 and a 12 month high of $36.65.

Tower International (NYSE:TOWR) last announced its quarterly earnings data on Thursday, May 2nd. The auto parts company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.07. Tower International had a net margin of 1.44% and a return on equity of 21.15%. The business had revenue of $378.74 million for the quarter, compared to analysts’ expectations of $373.25 million. During the same period last year, the firm posted $0.82 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, analysts anticipate that Tower International Inc will post 2.2 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Thursday, May 9th will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.52 dividend on an annualized basis and a yield of 2.53%. Tower International’s dividend payout ratio is currently 14.86%.

Several equities research analysts recently issued reports on TOWR shares. Roth Capital set a $32.00 target price on shares of Tower International and gave the company a “buy” rating in a research note on Thursday, February 14th. TheStreet cut shares of Tower International from a “b-” rating to a “c+” rating in a report on Monday, March 25th. Zacks Investment Research raised shares of Tower International from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. ValuEngine raised shares of Tower International from a “sell” rating to a “hold” rating in a report on Tuesday, February 19th. Finally, Seaport Global Securities assumed coverage on shares of Tower International in a report on Wednesday, February 13th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $29.00.

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About Tower International

Tower International, Inc manufactures and sells engineered automotive structural metal components and assemblies primarily for original equipment manufacturers. It operates in two segments, North America and Brazil. The company provides body structures and assemblies, including structural metal components, which comprise body pillars, roof rails, and side sills; and Class A surfaces and assemblies that consist of body sides, hoods, doors, fenders, and pickup truck boxes.

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Institutional Ownership by Quarter for Tower International (NYSE:TOWR)

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