Morgan Stanley Sells 51,923 Shares of TPI Composites Inc (TPIC)

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Morgan Stanley reduced its position in TPI Composites Inc (NASDAQ:TPIC) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 390,489 shares of the industrial products company’s stock after selling 51,923 shares during the quarter. Morgan Stanley owned about 1.13% of TPI Composites worth $11,148,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPIC. Trigran Investments Inc. increased its stake in shares of TPI Composites by 38.8% in the 3rd quarter. Trigran Investments Inc. now owns 1,178,020 shares of the industrial products company’s stock worth $33,633,000 after acquiring an additional 329,477 shares during the last quarter. BlackRock Inc. increased its stake in shares of TPI Composites by 8.8% in the 3rd quarter. BlackRock Inc. now owns 1,044,006 shares of the industrial products company’s stock worth $29,807,000 after acquiring an additional 84,244 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of TPI Composites by 22.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 702,862 shares of the industrial products company’s stock worth $20,066,000 after acquiring an additional 130,150 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of TPI Composites by 11.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 585,724 shares of the industrial products company’s stock worth $16,723,000 after acquiring an additional 57,944 shares during the last quarter. Finally, Wasatch Advisors Inc. increased its stake in shares of TPI Composites by 42.0% in the 3rd quarter. Wasatch Advisors Inc. now owns 550,264 shares of the industrial products company’s stock worth $15,710,000 after acquiring an additional 162,689 shares during the last quarter. 61.58% of the stock is owned by hedge funds and other institutional investors.

In related news, major shareholder Element Partners Ii Intrafund sold 99,978 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $27.16, for a total transaction of $2,715,402.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Lawrence Derosa sold 87,228 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $30.92, for a total value of $2,697,089.76. Following the transaction, the director now owns 6,620 shares of the company’s stock, valued at $204,690.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,464,049 shares of company stock valued at $38,903,076. Company insiders own 58.20% of the company’s stock.

TPIC has been the subject of a number of recent research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $42.00 target price (up from $31.00) on shares of TPI Composites in a research note on Monday, October 29th. ValuEngine raised TPI Composites from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. Zacks Investment Research downgraded TPI Composites from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 5th. UBS Group set a $30.00 price target on TPI Composites and gave the stock a “buy” rating in a report on Friday, November 9th. Finally, Cowen set a $33.00 price target on TPI Composites and gave the stock a “buy” rating in a report on Thursday, November 8th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $37.36.

NASDAQ TPIC opened at $31.02 on Thursday. The firm has a market cap of $1.07 billion, a PE ratio of 24.82 and a beta of 0.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.55 and a quick ratio of 1.52. TPI Composites Inc has a twelve month low of $18.20 and a twelve month high of $32.22.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.34. The business had revenue of $255.00 million during the quarter, compared to analysts’ expectations of $258.35 million. TPI Composites had a return on equity of 5.74% and a net margin of 2.03%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 EPS. As a group, equities analysts expect that TPI Composites Inc will post 0.42 earnings per share for the current year.

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TPI Composites Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.

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Institutional Ownership by Quarter for TPI Composites (NASDAQ:TPIC)

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