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 research analysts have also weighed in on TOWR. TheStreet lowered shares of Tower International from a b- rating to a c+ rating in a research note on Monday, March 25th. ValuEngine lowered shares of Tower International from a hold rating to a sell rating in a research note on Saturday, March 9th. Roth Capital set a $32.00 price target on shares of Tower International and gave the company a buy rating in a research note on Thursday, February 14th. Finally, Seaport Global Securities started coverage on shares of Tower International in a research note on Wednesday, February 13th. They issued a neutral rating on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $29.00.
Tower International (NYSE:TOWR) last posted its earnings results on Thursday, May 2nd. The auto parts company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.07. Tower International had a return on equity of 21.15% and a net margin of 1.44%. The firm 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 earned $0.82 EPS. The company’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, analysts expect that Tower International will post 2.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Thursday, May 9th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Wednesday, May 8th. Tower International’s dividend payout ratio is presently 14.86%.
A number of institutional investors have recently modified their holdings of TOWR. Municipal Employees Retirement System of Michigan purchased a new position in Tower International in the 4th quarter valued at about $687,000. Wedge Capital Management L L P NC lifted its stake in Tower International by 55.5% in the 1st quarter. Wedge Capital Management L L P NC now owns 75,321 shares of the auto parts company’s stock worth $1,584,000 after purchasing an additional 26,890 shares in the last quarter. Marshall Wace LLP purchased a new position in Tower International in the 3rd quarter worth approximately $699,000. Alambic Investment Management L.P. lifted its stake in Tower International by 73.0% in the 4th quarter. Alambic Investment Management L.P. now owns 47,000 shares of the auto parts company’s stock worth $1,119,000 after purchasing an additional 19,832 shares in the last quarter. Finally, Bowling Portfolio Management LLC purchased a new position in Tower International in the 4th quarter worth approximately $432,000. 92.53% of the stock is currently owned by hedge funds and other institutional investors.
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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