Thrivent Financial For Lutherans reduced its position in shares of Tower International Inc (NYSE:TOWR) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 488,932 shares of the auto parts company’s stock after selling 20,325 shares during the period. Thrivent Financial For Lutherans’ holdings in Tower International were worth $14,937,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its holdings in Tower International by 0.3% during the third quarter. Ameriprise Financial Inc. now owns 647,441 shares of the auto parts company’s stock worth $17,610,000 after acquiring an additional 2,015 shares during the period. State Street Corp grew its holdings in Tower International by 4.7% during the second quarter. State Street Corp now owns 399,280 shares of the auto parts company’s stock worth $8,962,000 after acquiring an additional 17,814 shares during the period. California Public Employees Retirement System grew its holdings in Tower International by 5.8% during the third quarter. California Public Employees Retirement System now owns 123,628 shares of the auto parts company’s stock worth $3,363,000 after acquiring an additional 6,728 shares during the period. EAM Investors LLC purchased a new position in Tower International in the 4th quarter worth about $2,087,000. Finally, Russell Investments Group Ltd. increased its stake in Tower International by 5.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 67,994 shares of the auto parts company’s stock worth $1,849,000 after purchasing an additional 3,316 shares in the last quarter. 89.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on TOWR. Zacks Investment Research cut Tower International from a “buy” rating to a “hold” rating in a research note on Saturday, December 30th. ValuEngine cut Tower International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 13th. Finally, JPMorgan Chase & Co. dropped their price target on Tower International from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $35.33.
Tower International (NYSE:TOWR) last issued its quarterly earnings results on Tuesday, February 13th. The auto parts company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.02. The firm had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $531.15 million. Tower International had a return on equity of 30.05% and a net margin of 2.40%. Tower International’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS. analysts expect that Tower International Inc will post 4.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Friday, February 9th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.78%. Tower International’s dividend payout ratio is currently 21.05%.
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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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