Teachers Advisors LLC Grows Position in TPI Composites, Inc. (TPIC)
Teachers Advisors LLC increased its position in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 22.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,192 shares of the industrial products company’s stock after purchasing an additional 3,823 shares during the period. Teachers Advisors LLC owned approximately 0.06% of TPI Composites worth $392,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers acquired a new stake in TPI Composites during the 2nd quarter worth approximately $206,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in TPI Composites by 5,354.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,000 shares of the industrial products company’s stock worth $1,109,000 after purchasing an additional 58,900 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in TPI Composites by 558.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 162,787 shares of the industrial products company’s stock worth $3,009,000 after purchasing an additional 138,053 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in TPI Composites during the 1st quarter worth approximately $1,042,000. Finally, Marshall Wace North America L.P. bought a new position in TPI Composites during the 2nd quarter worth $3,081,000. 35.36% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on TPIC. Canaccord Genuity raised their price objective on TPI Composites from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Zacks Investment Research upgraded TPI Composites from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, October 11th. J P Morgan Chase & Co lowered TPI Composites from an “overweight” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a research note on Friday, August 11th. ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Finally, Roth Capital raised their price objective on TPI Composites from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. TPI Composites has an average rating of “Buy” and an average price target of $26.00.
TPI Composites, Inc. (TPIC) opened at $20.32 on Wednesday. TPI Composites, Inc. has a 52 week low of $13.27 and a 52 week high of $26.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 1.32. The company has a market capitalization of $656.05, a price-to-earnings ratio of 17.38 and a beta of -0.01.
TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $243.35 million for the quarter, compared to analyst estimates of $252.42 million. During the same quarter last year, the company posted $0.08 EPS. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. equities analysts forecast that TPI Composites, Inc. will post 1.3 earnings per share for the current year.
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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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