Cornerstone Capital Management Holdings LLC. raised its stake in shares of Tower International Inc (NYSE:TOWR) by 41.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,100 shares of the auto parts company’s stock after purchasing an additional 4,100 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.07% of Tower International worth $383,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Thompson Siegel & Walmsley LLC increased its stake in shares of Tower International by 2.0% in the second quarter. Thompson Siegel & Walmsley LLC now owns 29,524 shares of the auto parts company’s stock worth $663,000 after acquiring an additional 577 shares during the period. Teachers Advisors LLC increased its stake in shares of Tower International by 2.6% in the first quarter. Teachers Advisors LLC now owns 37,704 shares of the auto parts company’s stock worth $1,022,000 after acquiring an additional 949 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Tower International by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 263,023 shares of the auto parts company’s stock worth $5,905,000 after acquiring an additional 1,136 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Tower International by 0.3% in the third quarter. Ameriprise Financial Inc. now owns 647,441 shares of the auto parts company’s stock worth $17,610,000 after acquiring an additional 2,015 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Tower International by 3.9% in the second quarter. Russell Investments Group Ltd. now owns 64,678 shares of the auto parts company’s stock worth $1,453,000 after acquiring an additional 2,440 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.
Tower International Inc (TOWR) opened at $31.35 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.01 and a debt-to-equity ratio of 1.32. The stock has a market cap of $649.72, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 0.86 and a beta of 2.70. Tower International Inc has a twelve month low of $21.00 and a twelve month high of $33.65.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 10th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.53%. This is an increase from Tower International’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, November 9th. Tower International’s dividend payout ratio (DPR) is presently 14.63%.
A number of brokerages recently issued reports on TOWR. B. Riley reissued a “buy” rating on shares of Tower International in a report on Wednesday, November 1st. Zacks Investment Research raised shares of Tower International from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Thursday, December 21st. TheStreet raised shares of Tower International from a “c+” rating to a “b” rating in a report on Thursday, September 28th. BidaskClub raised shares of Tower International from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Finally, ValuEngine raised shares of Tower International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Tower International has a consensus rating of “Buy” and an average target price of $35.00.
In other Tower International news, SVP William Cook sold 6,601 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $31.87, for a total transaction of $210,373.87. Following the transaction, the senior vice president now directly owns 11,917 shares of the company’s stock, valued at $379,794.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.20% of the company’s stock.
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Tower International Profile
Tower International, Inc is a global manufacturer of engineered automotive structural metal components and assemblies primarily serving original equipment manufacturers (OEMs). The Company’s product portfolio includes body-structure stampings, frame and other chassis structures, and welded assemblies for small and large cars, crossovers, pickups and sport utility vehicles (SUVs).
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