Tower International, Inc. (NYSE:TOWR) SVP William Cook sold 6,601 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $31.87, for a total transaction of $210,373.87. Following the transaction, the senior vice president now owns 11,917 shares in the company, valued at $379,794.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Tower International, Inc. (NYSE:TOWR) traded up $0.50 during midday trading on Friday, reaching $31.20. 82,043 shares of the company traded hands, compared to its average volume of 127,915. The stock has a market capitalization of $630.22, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of 0.82 and a beta of 2.69. Tower International, Inc. has a 52-week low of $21.00 and a 52-week high of $33.65. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.18 and a quick ratio of 1.01.
Tower International (NYSE:TOWR) last posted its quarterly earnings data on Monday, October 30th. The auto parts company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.08. The company had revenue of $462.00 million for the quarter, compared to analyst estimates of $451.73 million. Tower International had a net margin of 3.08% and a return on equity of 21.58%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. sell-side analysts anticipate that Tower International, Inc. will post 3.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, November 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. This is a positive change from Tower International’s previous quarterly dividend of $0.11. Tower International’s dividend payout ratio (DPR) is currently 15.64%.
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TOWR has been the topic of several research reports. Zacks Investment Research lowered shares of Tower International from a “strong-buy” rating to a “hold” rating in a report on Friday, July 21st. BidaskClub lowered shares of Tower International from a “hold” rating to a “sell” rating in a report on Friday, July 28th. ValuEngine lowered shares of Tower International from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Finally, TheStreet upgraded shares of Tower International from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Tower International has an average rating of “Buy” and an average target price of $33.67.
Several institutional investors and hedge funds have recently bought and sold shares of TOWR. Bowling Portfolio Management LLC purchased a new stake in shares of Tower International during the second quarter valued at approximately $225,000. Aperio Group LLC purchased a new stake in shares of Tower International during the third quarter valued at approximately $254,000. Eqis Capital Management Inc. purchased a new stake in shares of Tower International during the third quarter valued at approximately $259,000. Cigna Investments Inc. New purchased a new stake in shares of Tower International during the second quarter valued at approximately $317,000. Finally, American International Group Inc. raised its stake in shares of Tower International by 7.1% during the first quarter. American International Group Inc. now owns 12,627 shares of the auto parts company’s stock valued at $342,000 after purchasing an additional 833 shares during the period. Institutional investors own 89.54% of the company’s stock.
About Tower International
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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