Schroder Investment Management Group Acquires 590,556 Shares of TPI Composites, Inc. (NASDAQ:TPIC)


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Schroder Investment Management Group lifted its holdings in TPI Composites, Inc. (NASDAQ:TPIC) by 55.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,657,828 shares of the industrial products company’s stock after acquiring an additional 590,556 shares during the period. Schroder Investment Management Group’s holdings in TPI Composites were worth $87,499,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of TPI Composites by 8.7% in the fourth quarter. BlackRock Inc. now owns 2,219,668 shares of the industrial products company’s stock worth $117,153,000 after acquiring an additional 177,269 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of TPI Composites by 50.7% in the fourth quarter. Handelsbanken Fonder AB now owns 1,384,784 shares of the industrial products company’s stock worth $73,089,000 after acquiring an additional 466,130 shares during the period. Morgan Stanley boosted its stake in shares of TPI Composites by 65.6% in the fourth quarter. Morgan Stanley now owns 961,151 shares of the industrial products company’s stock worth $50,731,000 after acquiring an additional 380,758 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of TPI Composites in the fourth quarter worth about $35,741,000. Finally, First Trust Advisors LP boosted its stake in shares of TPI Composites by 120.0% in the fourth quarter. First Trust Advisors LP now owns 600,517 shares of the industrial products company’s stock worth $31,695,000 after acquiring an additional 327,594 shares during the period. 76.83% of the stock is owned by hedge funds and other institutional investors.

TPIC has been the subject of a number of research reports. Canaccord Genuity increased their price target on TPI Composites from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 4th. Stifel Nicolaus initiated coverage on TPI Composites in a research note on Wednesday. They set a “buy” rating for the company. Zacks Investment Research lowered TPI Composites from a “buy” rating to a “hold” rating in a research note on Friday, February 26th. Roth Capital increased their price target on TPI Composites from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, March 2nd. Finally, UBS Group lowered TPI Composites from a “buy” rating to a “neutral” rating in a research note on Friday, January 22nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. TPI Composites has a consensus rating of “Buy” and a consensus target price of $58.90.

In other news, CFO Bryan Robert Schumaker sold 52,614 shares of the stock in a transaction that occurred on Tuesday, March 2nd. The stock was sold at an average price of $50.65, for a total value of $2,664,899.10. Following the sale, the chief financial officer now directly owns 53,684 shares in the company, valued at $2,719,094.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Ramesh Gopalakrishnan sold 997 shares of the stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $52.30, for a total value of $52,143.10. Following the completion of the sale, the chief operating officer now owns 10,905 shares in the company, valued at $570,331.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,716 shares of company stock worth $3,036,334. Company insiders own 18.30% of the company’s stock.

NASDAQ:TPIC opened at $54.46 on Thursday. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -70.73 and a beta of 1.67. TPI Composites, Inc. has a 1 year low of $13.01 and a 1 year high of $81.36. The business has a 50 day simple moving average of $54.07 and a 200-day simple moving average of $48.99. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.32 and a quick ratio of 1.29.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Thursday, February 25th. The industrial products company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.13). TPI Composites had a positive return on equity of 7.60% and a negative net margin of 1.54%. As a group, analysts expect that TPI Composites, Inc. will post 0.71 earnings per share for the current fiscal year.

TPI Composites Company Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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

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