Tower International Inc (NYSE:TOWR) announced a quarterly dividend on Friday, April 21st. Shareholders of record on Wednesday, May 10th will be given a dividend of 0.11 per share by the auto parts company on Friday, June 9th. This represents a $0.44 annualized dividend and a dividend yield of 1.73%.
Tower International (NYSE:TOWR) traded up 0.20% during mid-day trading on Friday, hitting $25.50. The company’s stock had a trading volume of 206,856 shares. Tower International has a 52-week low of $18.75 and a 52-week high of $29.05. The company’s 50 day moving average is $26.47 and its 200-day moving average is $26.01. The stock has a market cap of $564.52 million, a P/E ratio of 14.02 and a beta of 1.94.
Tower International (NYSE:TOWR) last issued its quarterly earnings data on Tuesday, February 14th. The auto parts company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Tower International had a return on equity of 148.27% and a net margin of 8.48%. The business had revenue of $462.30 million for the quarter, compared to the consensus estimate of $465.15 million. During the same period in the prior year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts predict that Tower International will post $3.56 EPS for the current fiscal year.
In other news, COO Michael Rajkovic sold 60,000 shares of the stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $28.07, for a total value of $1,684,200.00. Following the sale, the chief operating officer now directly owns 15,312 shares in the company, valued at $429,807.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 6.00% of the company’s stock.
A number of equities research analysts have issued reports on TOWR shares. Zacks Investment Research downgraded Tower International from a “hold” rating to a “sell” rating in a research report on Thursday, January 5th. FBR & Co restated an “outperform” rating and set a $40.00 price objective on shares of Tower International in a research report on Wednesday, January 25th. Finally, Citigroup Inc downgraded Tower International from a “buy” rating to a “neutral” rating and increased their price target for the stock from $29.00 to $30.00 in a report on Wednesday, February 15th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Tower International presently has an average rating of “Hold” and an average price target of $31.17.
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Tower International Company 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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