Wells Fargo & Company MN increased its stake in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 260.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,750 shares of the industrial products company’s stock after buying an additional 5,600 shares during the period. Wells Fargo & Company MN’s holdings in TPI Composites were worth $147,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Perigon Wealth Management LLC bought a new position in TPI Composites during the fourth quarter valued at $234,000. GSA Capital Partners LLP bought a new position in TPI Composites during the fourth quarter valued at $313,000. Teachers Advisors LLC raised its position in TPI Composites by 360.9% in the fourth quarter. Teachers Advisors LLC now owns 29,360 shares of the industrial products company’s stock valued at $471,000 after buying an additional 22,990 shares during the last quarter. Sanders Morris Harris Inc. raised its position in TPI Composites by 24.2% in the first quarter. Sanders Morris Harris Inc. now owns 41,000 shares of the industrial products company’s stock valued at $779,000 after buying an additional 8,000 shares during the last quarter. Finally, Essex Investment Management Co. LLC raised its position in TPI Composites by 38.1% in the first quarter. Essex Investment Management Co. LLC now owns 56,155 shares of the industrial products company’s stock valued at $1,068,000 after buying an additional 15,485 shares during the last quarter. Institutional investors own 23.41% of the company’s stock.
Shares of TPI Composites, Inc. (NASDAQ TPIC) traded up 3.74% during trading on Friday, reaching $20.78. 341,627 shares of the company’s stock were exchanged. The firm has a market cap of $681.56 million and a price-to-earnings ratio of 38.99. The stock has a 50-day moving average price of $19.32 and a 200 day moving average price of $18.35. TPI Composites, Inc. has a 12 month low of $13.27 and a 12 month high of $23.30.
TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.27. TPI Composites had a net margin of 2.18% and a return on equity of 18.24%. The firm had revenue of $248.19 million during the quarter, compared to analyst estimates of $225.36 million. The company’s revenue was up 27.8% compared to the same quarter last year. On average, analysts forecast that TPI Composites, Inc. will post $0.91 EPS for the current year.
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Several equities analysts recently weighed in on the stock. Roth Capital increased their price target on shares of TPI Composites from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of TPI Composites from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Barclays PLC set a $23.00 target price on shares of TPI Composites and gave the stock a “buy” rating in a research report on Monday, May 8th. Cowen and Company set a $26.00 target price on shares of TPI Composites and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co lowered shares of TPI Composites from an “overweight” rating to a “neutral” rating and set a $27.00 target price for the company. in a research report on Friday, August 11th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $24.83.
In related news, Director Jack A. Henry acquired 3,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average cost of $21.70 per share, for a total transaction of $73,780.00. Following the purchase, the director now owns 13,800 shares in the company, valued at approximately $299,460. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack A. Henry acquired 4,400 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were bought at an average price of $16.82 per share, with a total value of $74,008.00. Following the completion of the purchase, the director now owns 4,400 shares in the company, valued at approximately $74,008. The disclosure for this purchase can be found here. 73.70% of the stock is owned by corporate insiders.
About TPI Composites
TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.
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