Schwab Charles Investment Management Inc. cut its holdings in TPI Composites Inc (NASDAQ:TPIC) by 12.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 142,331 shares of the industrial products company’s stock after selling 20,456 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in TPI Composites were worth $3,180,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in TPIC. First Trust Advisors LP raised its stake in TPI Composites by 16.5% in the second quarter. First Trust Advisors LP now owns 35,042 shares of the industrial products company’s stock valued at $648,000 after buying an additional 4,974 shares during the last quarter. Rhumbline Advisers purchased a new stake in TPI Composites in the second quarter valued at about $206,000. Bank of New York Mellon Corp raised its stake in TPI Composites by 1,755.3% in the second quarter. Bank of New York Mellon Corp now owns 361,690 shares of the industrial products company’s stock valued at $6,684,000 after buying an additional 342,195 shares during the last quarter. JPMorgan Chase & Co. raised its stake in TPI Composites by 34.9% in the second quarter. JPMorgan Chase & Co. now owns 14,517 shares of the industrial products company’s stock valued at $268,000 after buying an additional 3,759 shares during the last quarter. Finally, Alliancebernstein L.P. purchased a new stake in TPI Composites in the second quarter valued at about $233,000. Institutional investors own 33.89% of the company’s stock.
TPI Composites Inc (TPIC) opened at $20.98 on Monday. TPI Composites Inc has a 12 month low of $15.26 and a 12 month high of $26.00. The stock has a market capitalization of $713.53, a PE ratio of 20.57 and a beta of -1.43. The company has a quick ratio of 0.93, a current ratio of 1.32 and a debt-to-equity ratio of 0.59.
TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.36. TPI Composites had a return on equity of 30.80% and a net margin of 4.09%. The firm had revenue of $243.35 million during the quarter, compared to analysts’ expectations of $252.42 million. During the same period last year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. research analysts anticipate that TPI Composites Inc will post 1.3 EPS for the current year.
A number of research firms have commented on TPIC. BidaskClub upgraded TPI Composites from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research cut TPI Composites from a “buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. JMP Securities began coverage on TPI Composites in a research note on Thursday, November 16th. They issued an “outperform” rating and a $33.00 price target for the company. Finally, Canaccord Genuity increased their price target on TPI Composites from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $27.00.
In related news, Director Daniel G. Weiss sold 51,000 shares of TPI Composites stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $19.14, for a total transaction of $976,140.00. Following the completion of the transaction, the director now directly owns 2,880 shares in the company, valued at $55,123.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Investors L. P. Angeleno II sold 32,388 shares of TPI Composites stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $18.79, for a total value of $608,570.52. The disclosure for this sale can be found here. Company insiders own 73.70% of the company’s stock.
TPI Composites Profile
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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