Marshall Wace North America L.P. Buys Shares of 171,160 TPI Composites, Inc. (TPIC)
Marshall Wace North America L.P. bought a new stake in shares of TPI Composites, Inc. (NASDAQ:TPIC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 171,160 shares of the industrial products company’s stock, valued at approximately $3,081,000. Marshall Wace North America L.P. owned about 0.52% of TPI Composites at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new position in TPI Composites during the first quarter valued at $424,000. TFS Capital LLC purchased a new position in TPI Composites during the first quarter valued at $239,000. Oxford Asset Management purchased a new position in TPI Composites during the first quarter valued at $210,000. Handelsinvest Investeringsforvaltning purchased a new position in TPI Composites during the second quarter valued at $2,264,000. Finally, Capital Management Associates NY boosted its position in TPI Composites by 31.6% in the second quarter. Capital Management Associates NY now owns 25,000 shares of the industrial products company’s stock valued at $462,000 after buying an additional 6,000 shares in the last quarter. 33.09% of the stock is owned by institutional investors and hedge funds.
TPI Composites, Inc. (TPIC) opened at 20.44 on Friday. TPI Composites, Inc. has a 52-week low of $13.27 and a 52-week high of $23.30. The firm’s 50-day moving average is $19.76 and its 200-day moving average is $18.44. The company has a market capitalization of $670.41 million, a PE ratio of 38.35 and a beta of -0.49.
TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.27. The firm had revenue of $248.19 million during the quarter, compared to the consensus estimate of $225.36 million. TPI Composites had a return on equity of 18.24% and a net margin of 2.18%. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, equities research analysts forecast that TPI Composites, Inc. will post $0.91 EPS for the current year.
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TPIC has been the subject of several analyst reports. Roth Capital set a $23.00 target price on shares of TPI Composites and gave the company a “buy” rating in a research note on Saturday, May 27th. Cowen and Company set a $26.00 price objective on shares of TPI Composites and gave the stock a “buy” rating in a research report on Friday, August 4th. Zacks Investment Research cut shares of TPI Composites from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Barclays PLC set a $23.00 price objective on shares of TPI Composites and gave the stock a “buy” rating in a research report on Monday, May 8th. Finally, J P Morgan Chase & Co cut shares of TPI Composites from an “overweight” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $24.83.
In other TPI Composites news, Director Jack A. Henry acquired 3,400 shares of TPI Composites stock in a transaction on Wednesday, August 16th. The stock was purchased at an average price of $21.70 per share, for a total transaction of $73,780.00. Following the purchase, the director now directly owns 13,800 shares of the company’s stock, valued at $299,460. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 73.70% of the stock is owned by corporate insiders.
About TPI Composites
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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