Value Holdings Management CO. LLC purchased a new position in TPI Composites Inc (NASDAQ:TPIC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,175 shares of the industrial products company’s stock, valued at approximately $633,000. Value Holdings Management CO. LLC owned 0.06% of TPI Composites as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. First Quadrant L P CA increased its holdings in shares of TPI Composites by 155.0% in the third quarter. First Quadrant L P CA now owns 4,852 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 2,949 shares during the period. Metropolitan Life Insurance Co. NY bought a new position in shares of TPI Composites in the second quarter worth $162,000. Citadel Advisors LLC bought a new position in shares of TPI Composites in the second quarter worth $208,000. MetLife Investment Advisors LLC bought a new position in shares of TPI Composites in the second quarter worth $214,000. Finally, Bessemer Group Inc. bought a new position in shares of TPI Composites in the third quarter worth $211,000. 54.72% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Michael Lawrence Derosa sold 145,682 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $28.56, for a total transaction of $4,160,677.92. Following the transaction, the director now directly owns 6,620 shares of the company’s stock, valued at $189,067.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven C. Lockard sold 51,795 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $25.61, for a total value of $1,326,469.95. Following the transaction, the chief executive officer now directly owns 317,416 shares in the company, valued at $8,129,023.76. The disclosure for this sale can be found here. Insiders have sold 2,702,968 shares of company stock worth $72,452,298 over the last ninety days. Insiders own 58.20% of the company’s stock.
Several research analysts have recently weighed in on the stock. Craig Hallum upped their price target on shares of TPI Composites from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Cowen set a $33.00 target price on TPI Composites and gave the company a “buy” rating in a research note on Thursday, November 8th. UBS Group set a $30.00 target price on TPI Composites and gave the company a “buy” rating in a research note on Friday, November 9th. TheStreet cut TPI Composites from a “b-” rating to a “c” rating in a research note on Wednesday, August 22nd. Finally, Morgan Stanley increased their target price on TPI Composites from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, September 11th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $34.61.
TPIC opened at $23.83 on Wednesday. The firm has a market capitalization of $831.37 million, a P/E ratio of 19.06 and a beta of 0.13. The company has a current ratio of 1.55, a quick ratio of 1.52 and a debt-to-equity ratio of 0.41. TPI Composites Inc has a 52 week low of $16.35 and a 52 week high of $32.22.
TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.34. TPI Composites had a return on equity of 5.74% and a net margin of 2.03%. The firm had revenue of $255.00 million for the quarter, compared to analysts’ expectations of $258.35 million. During the same period last year, the firm earned $0.62 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that TPI Composites Inc will post 0.36 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This news story was originally published by Macon Daily and is the property of of Macon Daily. If you are reading this news story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at https://macondaily.com/2018/11/21/value-holdings-management-co-llc-takes-position-in-tpi-composites-inc-tpic.html.
TPI Composites Company 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.
Featured Story: How do investors use RSI to grade stocks?
Want to see what other hedge funds are holding TPIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TPI Composites Inc (NASDAQ:TPIC).
Receive News & Ratings for TPI Composites Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPI Composites and related companies with MarketBeat.com's FREE daily email newsletter.