TIAA CREF Investment Management LLC Buys 31,397 Shares of TPI Composites, Inc. (TPIC)
TIAA CREF Investment Management LLC lifted its stake in TPI Composites, Inc. (NASDAQ:TPIC) by 210.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,324 shares of the industrial products company’s stock after purchasing an additional 31,397 shares during the period. TIAA CREF Investment Management LLC owned about 0.14% of TPI Composites worth $856,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in TPIC. Wells Fargo & Company MN boosted its holdings in TPI Composites by 260.5% in the first quarter. Wells Fargo & Company MN now owns 7,750 shares of the industrial products company’s stock valued at $147,000 after purchasing an additional 5,600 shares during the period. JPMorgan Chase & Co. purchased a new position in TPI Composites in the first quarter valued at $205,000. Geode Capital Management LLC boosted its holdings in TPI Composites by 50.9% in the first quarter. Geode Capital Management LLC now owns 94,939 shares of the industrial products company’s stock valued at $1,804,000 after purchasing an additional 32,038 shares during the period. Morgan Stanley boosted its holdings in TPI Composites by 209.6% in the first quarter. Morgan Stanley now owns 183,555 shares of the industrial products company’s stock valued at $3,489,000 after purchasing an additional 124,267 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in TPI Composites in the first quarter valued at $1,042,000. Hedge funds and other institutional investors own 35.36% of the company’s stock.
A number of research analysts recently issued reports on the company. ValuEngine upgraded TPI Composites from a “hold” rating to a “buy” rating in a report on Thursday. Canaccord Genuity lifted their price target on TPI Composites from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, November 6th. Zacks Investment Research raised TPI Composites from a “hold” rating to a “strong-buy” rating and set a $26.00 price target for the company in a report on Wednesday, October 11th. J P Morgan Chase & Co downgraded TPI Composites from an “overweight” rating to a “neutral” rating and set a $27.00 price target for the company. in a report on Friday, August 11th. Finally, Roth Capital lifted their price target on TPI Composites from $23.00 to $28.00 and gave the stock a “buy” rating in a report 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 stock. The stock presently has a consensus rating of “Buy” and an average target price of $26.00.
In other TPI Composites news, Director Jack A. Henry purchased 3,400 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was bought at an average cost of $21.70 per share, with a total value of $73,780.00. Following the acquisition, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 73.70% of the stock is owned by insiders.
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Shares of TPI Composites, Inc. (NASDAQ TPIC) opened at $19.66 on Monday. The stock has a market capitalization of $668.64, a PE ratio of 17.71 and a beta of -0.01. The company has a current ratio of 1.32, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. TPI Composites, Inc. has a fifty-two week low of $13.27 and a fifty-two week high of $26.00.
TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.36. The company had revenue of $243.35 million during the quarter, compared to the consensus estimate of $252.42 million. TPI Composites had a return on equity of 30.80% and a net margin of 4.09%. TPI Composites’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 EPS. sell-side analysts predict that TPI Composites, Inc. will post 1.3 earnings per share for the current fiscal year.
TPI Composites Company 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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