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. “
Several other equities research analysts also recently commented on the company. Seaport Global Securities started coverage on Tower International in a report on Tuesday, August 9th. They issued a buy rating and a $35.00 price objective for the company. FBR & Co reissued a buy rating on shares of Tower International in a report on Wednesday, July 27th. Finally, Wells Fargo & Co. reissued a hold rating and issued a $24.00 price objective on shares of Tower International in a report on Monday, July 18th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Tower International currently has an average rating of Buy and an average target price of $30.60.
Shares of Tower International (NYSE:TOWR) opened at 23.43 on Wednesday. Tower International has a 52 week low of $18.75 and a 52 week high of $31.41. The stock has a 50 day moving average of $23.59 and a 200 day moving average of $23.31. The firm has a market cap of $493.25 million, a P/E ratio of 3.05 and a beta of 2.01.
Tower International (NYSE:TOWR) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.71 by $0.10. The company earned $505.10 million during the quarter, compared to the consensus estimate of $504.70 million. Tower International had a return on equity of 162.08% and a net margin of 8.31%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 EPS. Analysts anticipate that Tower International will post $3.20 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 10th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, August 8th. Tower International’s dividend payout ratio (DPR) is presently 5.21%.
A number of large investors have recently bought and sold shares of the stock. Towle & Co. purchased a new position in Tower International during the second quarter valued at $13,584,000. Thrivent Financial for Lutherans boosted its position in Tower International by 642.7% in the second quarter. Thrivent Financial for Lutherans now owns 375,040 shares of the company’s stock valued at $7,718,000 after buying an additional 324,540 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in Tower International by 557.1% in the second quarter. Wedge Capital Management L L P NC now owns 342,274 shares of the company’s stock valued at $16,463,000 after buying an additional 290,182 shares during the last quarter. LSV Asset Management boosted its position in Tower International by 47.8% in the second quarter. LSV Asset Management now owns 584,313 shares of the company’s stock valued at $12,025,000 after buying an additional 189,013 shares during the last quarter. Finally, Societe Generale purchased a new position in Tower International during the second quarter valued at $2,594,000. Institutional investors and hedge funds own 92.24% of the company’s stock.
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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