Saturna Capital CORP Increases Holdings in TPI Composites, Inc. (NASDAQ:TPIC)

Saturna Capital CORP increased its stake in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 86.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,600 shares of the industrial products company’s stock after buying an additional 24,400 shares during the quarter. Saturna Capital CORP’s holdings in TPI Composites were worth $2,547,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its stake in TPI Composites by 31.2% during the second quarter. BlackRock Inc. now owns 3,667,591 shares of the industrial products company’s stock worth $177,585,000 after acquiring an additional 872,474 shares during the last quarter. Schroder Investment Management Group increased its stake in TPI Composites by 8.0% during the first quarter. Schroder Investment Management Group now owns 1,789,718 shares of the industrial products company’s stock worth $100,994,000 after acquiring an additional 131,890 shares during the last quarter. Morgan Stanley increased its stake in TPI Composites by 22.5% during the first quarter. Morgan Stanley now owns 1,177,091 shares of the industrial products company’s stock worth $66,424,000 after acquiring an additional 215,940 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in TPI Composites by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 841,605 shares of the industrial products company’s stock worth $44,419,000 after acquiring an additional 7,960 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in TPI Composites by 23.9% during the first quarter. Lord Abbett & CO. LLC now owns 838,797 shares of the industrial products company’s stock worth $47,333,000 after acquiring an additional 161,633 shares during the last quarter. Hedge funds and other institutional investors own 84.94% of the company’s stock.

Several equities research analysts have issued reports on the company. Cowen cut their target price on TPI Composites from $65.00 to $47.00 and set an “outperform” rating for the company in a research note on Friday, July 23rd. Seaport Global Securities assumed coverage on TPI Composites in a research note on Thursday, July 15th. They set a “buy” rating and a $67.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on TPI Composites from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, July 21st. Roth Capital reaffirmed a “buy” rating and issued a $37.21 price objective (down from $60.00) on shares of TPI Composites in a research note on Tuesday, July 27th. Finally, Raymond James dropped their price objective on TPI Composites from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, July 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, TPI Composites has an average rating of “Buy” and a consensus target price of $54.87.

TPIC traded down $0.25 on Tuesday, hitting $34.75. 2,563 shares of the company were exchanged, compared to its average volume of 768,809. TPI Composites, Inc. has a twelve month low of $24.02 and a twelve month high of $81.36. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 246.95 and a beta of 1.58. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 1.12. The firm has a 50-day moving average price of $38.97 and a two-hundred day moving average price of $45.58.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Thursday, August 5th. The industrial products company reported ($1.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by ($0.32). TPI Composites had a return on equity of 2.42% and a net margin of 0.33%. The company had revenue of $458.84 million for the quarter, compared to analyst estimates of $458.79 million. Equities analysts expect that TPI Composites, Inc. will post -1.67 EPS for the current year.

TPI Composites Company Profile

TPI Composites, Inc is a holding company, which engages in the manufacture of composite wind blades for the wind energy market. It operates through the following segments: United States (US); Asia; Mexico; and Europe, the Middle East, and Africa (EMEA). The US segment includes the production of wind blades in Newton, Iowa plant; and manufacturing of precision molding and assembly systems used for the manufacture of wind blades in Warren, Rhode Island facility, and composite solutions for the transportation industry.

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

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