Tower International Inc (NYSE:TOWR) COO Michael Rajkovic sold 17,764 shares of the firm’s stock in a transaction that occurred on Tuesday, June 26th. The shares were sold at an average price of $33.38, for a total value of $592,962.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of NYSE:TOWR opened at $31.80 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $677.58 million, a PE ratio of 8.46, a PEG ratio of 1.00 and a beta of 2.28. Tower International Inc has a 1 year low of $21.25 and a 1 year high of $34.55.
Tower International (NYSE:TOWR) last issued its quarterly earnings results on Thursday, May 3rd. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The firm had revenue of $563.51 million for the quarter, compared to analyst estimates of $546.67 million. Tower International had a return on equity of 28.77% and a net margin of 2.32%. The business’s revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. research analysts anticipate that Tower International Inc will post 4.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Thursday, May 10th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Wednesday, May 9th. Tower International’s dividend payout ratio is presently 12.77%.
TOWR has been the topic of several research analyst reports. ValuEngine raised Tower International from a “buy” rating to a “strong-buy” rating in a report on Friday, April 6th. Roth Capital initiated coverage on Tower International in a research note on Thursday, May 24th. They issued a “buy” rating and a $41.00 price target on the stock. Finally, Zacks Investment Research raised Tower International from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Saturday, May 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $35.50.
Several large investors have recently modified their holdings of the company. Swiss National Bank boosted its stake in shares of Tower International by 6.6% in the first quarter. Swiss National Bank now owns 35,700 shares of the auto parts company’s stock worth $991,000 after acquiring an additional 2,200 shares during the last quarter. Northern Trust Corp boosted its stake in Tower International by 1.5% during the first quarter. Northern Trust Corp now owns 217,161 shares of the auto parts company’s stock worth $6,026,000 after buying an additional 3,169 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in Tower International during the fourth quarter worth $217,000. Barclays PLC boosted its stake in Tower International by 45.7% during the first quarter. Barclays PLC now owns 23,408 shares of the auto parts company’s stock worth $650,000 after buying an additional 7,341 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in Tower International during the fourth quarter worth $253,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
About Tower International
Tower International, Inc manufactures and sells engineered automotive structural metal components and assemblies primarily for original equipment manufacturers. It operates in two segments, North America and Europe. The company provides body structures and assemblies, including structural metal components, which comprise body pillars, roof rails, and side sills; and Class A surfaces and assemblies that consist of body sides, hoods, doors, fenders, and pickup truck boxes.
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