Tower International, Inc. (NYSE:TOWR) SVP William Cook sold 6,601 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $31.87, for a total value of $210,373.87. Following the transaction, the senior vice president now directly owns 11,917 shares of the company’s stock, valued at approximately $379,794.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Tower International, Inc. (NYSE TOWR) traded up $0.50 on Friday, reaching $31.20. The company’s stock had a trading volume of 82,045 shares, compared to its average volume of 127,915. Tower International, Inc. has a 12-month low of $21.00 and a 12-month high of $33.65. The firm has a market capitalization of $630.22, a P/E ratio of 8.43, a price-to-earnings-growth ratio of 0.82 and a beta of 2.69. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.18 and a quick ratio of 1.01.
Tower International (NYSE:TOWR) last announced its quarterly earnings data on Monday, October 30th. The auto parts company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.08. Tower International had a return on equity of 21.58% and a net margin of 3.08%. The company had revenue of $462.00 million during the quarter, compared to the consensus estimate of $451.73 million. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. research analysts predict that Tower International, Inc. will post 3.7 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from Tower International’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. Tower International’s dividend payout ratio is 15.64%.
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A number of large investors have recently modified their holdings of TOWR. Bowling Portfolio Management LLC bought a new stake in Tower International during the second quarter valued at about $225,000. Aperio Group LLC bought a new stake in Tower International during the third quarter valued at about $254,000. Eqis Capital Management Inc. bought a new stake in Tower International during the third quarter valued at about $259,000. Cigna Investments Inc. New bought a new stake in Tower International during the second quarter valued at about $317,000. Finally, American International Group Inc. boosted its holdings in Tower International by 7.1% during the first quarter. American International Group Inc. now owns 12,627 shares of the auto parts company’s stock valued at $342,000 after acquiring an additional 833 shares during the period. Hedge funds and other institutional investors own 89.54% of the company’s stock.
TOWR has been the topic of a number of recent research reports. Zacks Investment Research cut Tower International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 21st. BidaskClub lowered Tower International from a “hold” rating to a “sell” rating in a report on Friday, July 28th. ValuEngine raised Tower International from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Finally, FBR & Co reissued a “buy” rating and issued a $40.00 price objective on shares of Tower International in a report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Tower International has a consensus rating of “Buy” and a consensus price target of $33.67.
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’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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