AlpInvest Partners B.V. Takes Position in TPI Composites Inc (TPIC)

AlpInvest Partners B.V. purchased a new position in shares of TPI Composites Inc (NASDAQ:TPIC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 48,117 shares of the industrial products company’s stock, valued at approximately $1,374,000. TPI Composites makes up 2.9% of AlpInvest Partners B.V.’s holdings, making the stock its 10th largest holding. AlpInvest Partners B.V. owned 0.14% of TPI Composites at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Trigran Investments Inc. increased its position in TPI Composites by 38.8% during the third quarter. Trigran Investments Inc. now owns 1,178,020 shares of the industrial products company’s stock worth $33,633,000 after buying an additional 329,477 shares in the last quarter. BlackRock Inc. increased its position in TPI Composites by 8.8% during the third quarter. BlackRock Inc. now owns 1,044,006 shares of the industrial products company’s stock worth $29,807,000 after buying an additional 84,244 shares in the last quarter. Bank of New York Mellon Corp increased its position in TPI Composites by 22.7% during the third quarter. Bank of New York Mellon Corp now owns 702,862 shares of the industrial products company’s stock worth $20,066,000 after buying an additional 130,150 shares in the last quarter. Renaissance Technologies LLC increased its position in TPI Composites by 17.2% during the second quarter. Renaissance Technologies LLC now owns 650,000 shares of the industrial products company’s stock worth $19,006,000 after buying an additional 95,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in TPI Composites by 11.0% during the third quarter. Dimensional Fund Advisors LP now owns 585,724 shares of the industrial products company’s stock worth $16,723,000 after buying an additional 57,944 shares in the last quarter. 61.41% of the stock is owned by institutional investors.

In other TPI Composites news, major shareholder Element Partners Ii Intrafund sold 4,796 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $25.01, for a total transaction of $119,947.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Lawrence Derosa sold 29,670 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $27.53, for a total value of $816,815.10. Following the sale, the director now directly owns 6,620 shares of the company’s stock, valued at approximately $182,248.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,371,125 shares of company stock valued at $62,158,593. Company insiders own 58.20% of the company’s stock.

Shares of NASDAQ:TPIC opened at $27.74 on Tuesday. The firm has a market capitalization of $938.35 million, a PE ratio of 22.19 and a beta of 0.15. The company has a quick ratio of 1.52, a current ratio of 1.55 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 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.34. The business had revenue of $255.00 million during the quarter, compared to the consensus estimate of $258.35 million. TPI Composites had a return on equity of 5.74% and a net margin of 2.03%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, research analysts anticipate that TPI Composites Inc will post 0.36 earnings per share for the current fiscal year.

TPIC has been the subject of several recent research reports. TheStreet raised TPI Composites from a “c” rating to a “b” rating in a research report on Monday, November 26th. Cowen set a $33.00 price objective on TPI Composites and gave the company a “buy” rating in a research report on Thursday, November 8th. JMP Securities set a $39.00 price objective on TPI Composites and gave the company a “buy” rating in a research report on Thursday, November 8th. UBS Group lifted their price objective on TPI Composites from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Finally, BidaskClub raised TPI Composites from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. TPI Composites presently has a consensus rating of “Buy” and a consensus price target of $35.56.

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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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Institutional Ownership by Quarter for TPI Composites (NASDAQ:TPIC)

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