Strs Ohio reduced its position in TPI Composites Inc (NASDAQ:TPIC) by 38.2% in the 2nd quarter, Holdings Channel reports. The firm owned 18,600 shares of the industrial products company’s stock after selling 11,500 shares during the period. Strs Ohio’s holdings in TPI Composites were worth $543,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of TPIC. Sei Investments Co. lifted its stake in TPI Composites by 40.3% in the 1st quarter. Sei Investments Co. now owns 7,992 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 2,294 shares during the last quarter. Koch Industries Inc. acquired a new stake in TPI Composites in the 1st quarter valued at about $215,000. Rhumbline Advisers acquired a new stake in TPI Composites in the 1st quarter valued at about $222,000. Hartford Investment Management Co. acquired a new stake in TPI Composites in the 2nd quarter valued at about $260,000. Finally, Acadian Asset Management LLC acquired a new stake in TPI Composites in the 2nd quarter valued at about $286,000. Institutional investors and hedge funds own 52.35% of the company’s stock.
Shares of TPIC stock opened at $27.45 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.65 and a quick ratio of 1.63. The company has a market cap of $964.58 million, a price-to-earnings ratio of 21.96 and a beta of -0.91. TPI Composites Inc has a 12-month low of $16.35 and a 12-month high of $32.22.
TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Tuesday, August 7th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.09). The company had revenue of $230.61 million for the quarter, compared to analyst estimates of $240.29 million. TPI Composites had a return on equity of 17.01% and a net margin of 3.17%. sell-side analysts anticipate that TPI Composites Inc will post 0.25 EPS for the current fiscal year.
Several equities research analysts recently issued reports on the stock. TheStreet downgraded shares of TPI Composites from a “b-” rating to a “c” rating in a research note on Wednesday, August 22nd. Canaccord Genuity raised their target price on shares of TPI Composites from $26.00 to $35.50 and gave the company a “buy” rating in a research note on Wednesday, July 11th. ValuEngine upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a research note on Thursday, May 17th. Cowen set a $35.00 target price on shares of TPI Composites and gave the company a “buy” rating in a research note on Wednesday, August 8th. Finally, JMP Securities raised their target price on shares of TPI Composites from $36.00 to $38.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 8th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $33.61.
In other TPI Composites news, Director Daniel G. Weiss sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $26.05, for a total transaction of $1,302,500.00. Following the completion of the sale, the director now directly owns 6,620 shares in the company, valued at $172,451. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel G. Weiss sold 5,075 shares of the firm’s stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $29.56, for a total transaction of $150,017.00. Following the sale, the director now owns 6,620 shares of the company’s stock, valued at $195,687.20. The disclosure for this sale can be found here. Insiders have sold 2,515,605 shares of company stock valued at $69,492,506 over the last 90 days. Company insiders own 58.20% of the company’s stock.
TPI Composites Profile
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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