California Public Employees Retirement System raised its position in shares of Tower International Inc. (NYSE:TOWR) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 131,200 shares of the company’s stock after buying an additional 1,400 shares during the period. California Public Employees Retirement System owned approximately 0.62% of Tower International worth $2,700,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Towle & Co. acquired a new position in shares of Tower International during the second quarter worth about $13,584,000. Wedge Capital Management L L P NC boosted its position in shares of Tower International by 557.1% in the second quarter. Wedge Capital Management L L P NC now owns 342,274 shares of the company’s stock valued at $16,463,000 after buying an additional 290,182 shares during the period. Societe Generale purchased a new position in shares of Tower International during the second quarter valued at about $2,594,000. Emerald Acquisition Ltd. purchased a new position in shares of Tower International during the second quarter valued at about $2,364,000. Finally, SG Americas Securities LLC boosted its position in shares of Tower International by 331.1% in the second quarter. SG Americas Securities LLC now owns 126,026 shares of the company’s stock valued at $2,594,000 after buying an additional 96,792 shares during the period. 92.24% of the stock is owned by institutional investors.
Shares of Tower International Inc. (NYSE:TOWR) traded up 3.06% during mid-day trading on Friday, hitting $24.24. 100,119 shares of the stock were exchanged. The firm has a market cap of $510.30 million, a price-to-earnings ratio of 3.15 and a beta of 2.01. Tower International Inc. has a 52-week low of $18.75 and a 52-week high of $31.41. The stock has a 50-day moving average price of $23.67 and a 200 day moving average price of $23.30.
Tower International (NYSE:TOWR) last issued its earnings results on Tuesday, July 26th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.10. Tower International had a net margin of 8.31% and a return on equity of 162.08%. The company had revenue of $505.10 million for the quarter, compared to analysts’ expectations of $504.70 million. During the same period in the prior year, the business earned $1.05 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities research analysts expect that Tower International Inc. will post $3.20 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Monday, August 8th. Tower International’s payout ratio is 5.21%.
TOWR has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Tower International from a “buy” rating to a “hold” rating in a report on Wednesday. FBR & Co reaffirmed a “buy” rating on shares of Tower International in a report on Wednesday, July 27th. Wells Fargo & Co. reaffirmed a “hold” rating and issued a $24.00 target price on shares of Tower International in a report on Monday, July 18th. Finally, Seaport Global Securities initiated coverage on shares of Tower International in a report on Tuesday, August 9th. They issued a “buy” rating and a $35.00 target price for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $30.60.
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 operates in two segments: Americas and International. The International segment consists of Europe and Asia, and the Americas segment consists of North America and South America.
Want to see what other hedge funds are holding TOWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tower International Inc. (NYSE:TOWR).
Receive News & Ratings for Tower International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tower International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.