Insider Selling: TPI Composites Inc (TPIC) Director Sells 39,400 Shares of Stock

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TPI Composites Inc (NASDAQ:TPIC) Director Michael Lawrence Derosa sold 39,400 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $27.34, for a total value of $1,077,196.00. Following the completion of the sale, the director now owns 6,620 shares of the company’s stock, valued at approximately $180,990.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Michael Lawrence Derosa also recently made the following trade(s):

  • On Friday, August 31st, Michael Lawrence Derosa sold 26,433 shares of TPI Composites stock. The stock was sold at an average price of $27.95, for a total value of $738,802.35.
  • On Wednesday, August 29th, Michael Lawrence Derosa sold 21,722 shares of TPI Composites stock. The stock was sold at an average price of $28.47, for a total value of $618,425.34.
  • On Monday, August 27th, Michael Lawrence Derosa sold 34,200 shares of TPI Composites stock. The stock was sold at an average price of $28.68, for a total value of $980,856.00.
  • On Friday, August 24th, Michael Lawrence Derosa sold 145,682 shares of TPI Composites stock. The stock was sold at an average price of $28.56, for a total value of $4,160,677.92.
  • On Wednesday, August 22nd, Michael Lawrence Derosa sold 66,722 shares of TPI Composites stock. The stock was sold at an average price of $28.21, for a total value of $1,882,227.62.
  • On Monday, August 20th, Michael Lawrence Derosa sold 123,435 shares of TPI Composites stock. The stock was sold at an average price of $26.75, for a total value of $3,301,886.25.

Shares of NASDAQ:TPIC traded up $0.11 during trading on Wednesday, hitting $27.42. The stock had a trading volume of 522,200 shares, compared to its average volume of 286,299. TPI Composites Inc has a 12 month low of $16.35 and a 12 month high of $32.22. The firm has a market capitalization of $964.58 million, a P/E ratio of 21.94 and a beta of -0.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.63 and a current ratio of 1.65.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.09). TPI Composites had a return on equity of 17.01% and a net margin of 3.17%. The firm had revenue of $230.61 million during the quarter, compared to the consensus estimate of $240.29 million. equities analysts forecast that TPI Composites Inc will post 0.25 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of TPI Composites by 19.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 572,712 shares of the industrial products company’s stock worth $16,746,000 after acquiring an additional 92,004 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of TPI Composites in the 2nd quarter worth approximately $214,000. Metropolitan Life Insurance Co. NY bought a new position in shares of TPI Composites in the 2nd quarter worth approximately $162,000. Hilltop Holdings Inc. bought a new position in shares of TPI Composites in the 2nd quarter worth approximately $266,000. Finally, Paloma Partners Management Co bought a new position in shares of TPI Composites in the 2nd quarter worth approximately $346,000. 51.31% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on TPIC shares. TheStreet upgraded TPI Composites from a “c” rating to a “b-” rating in a report on Monday, July 23rd. Canaccord Genuity increased their price objective on TPI Composites from $26.00 to $35.50 and gave the stock a “buy” rating in a report on Wednesday, July 11th. Roth Capital set a $37.00 price objective on TPI Composites and gave the stock a “buy” rating in a report on Tuesday, July 10th. UBS Group upgraded TPI Composites from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $31.00 in a report on Wednesday, June 20th. Finally, ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. TPI Composites has an average rating of “Buy” and a consensus price target of $33.61.

About TPI Composites

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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