According to Zacks, “TA Delaware, Inc. is engaged in the manufacture of engineered structural metal components and assemblies primarily serving automotive original equipment manufacturers. It offers its automotive customers body-structure stampings, frame and other chassis structures, as well as complex welded assemblies, for small and large cars, crossovers, pickups and SUVs. Its manufacturing operations consist primarily of stamping and welding operations, system and modular assembly operations, coating, and other ancillary operations. The Company uses various grades and thicknesses of steel and aluminum; including high-strength, hot- and cold-rolled, galvanized, organically coated, stainless, and aluminized steel; for the manufacture of its products. TA Delaware, Inc. is headquartered in Livonia, Michigan. “
Several other brokerages also recently weighed in on TOWR. FBR & Co reissued a buy rating on shares of Tower International in a report on Saturday, June 18th. Wells Fargo & Co. reissued a hold rating and issued a $24.00 price target on shares of Tower International in a report on Monday, July 18th. Finally, Seaport Global Securities assumed coverage on Tower International in a report on Tuesday, August 9th. They issued a buy rating and a $35.00 price target for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $30.60.
Tower International (NYSE:TOWR) last posted its earnings results on Tuesday, July 26th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.10. Tower International had a return on equity of 162.08% and a net margin of 8.31%. The company had revenue of $505.10 million for the quarter, compared to analyst estimates of $504.70 million. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 10th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Monday, August 8th. Tower International’s dividend payout ratio (DPR) is 5.21%.
Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Tower International during the second quarter worth approximately $159,000. Gamco Investors INC. ET AL increased its stake in Tower International by 2.6% in the second quarter. Gamco Investors INC. ET AL now owns 12,000 shares of the company’s stock worth $247,000 after buying an additional 300 shares during the period. Alambic Investment Management L.P. purchased a new stake in Tower International during the second quarter worth approximately $311,000. Icon Advisers Inc. Co. purchased a new stake in Tower International during the second quarter worth approximately $311,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in Tower International by 3.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 16,034 shares of the company’s stock worth $436,000 after buying an additional 535 shares during the period. 92.24% of the stock is owned by hedge funds and other institutional investors.
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 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.
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