BidaskClub lowered shares of Tower International, Inc. (NYSE:TOWR) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Tower International from a buy rating to a hold rating in a research note on Friday, May 5th. ValuEngine downgraded shares of Tower International from a strong-buy rating to a buy rating in a research note on Friday, June 2nd. Finally, FBR & Co reissued an outperform rating and issued a $40.00 price target on shares of Tower International in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Tower International has a consensus rating of Hold and an average target price of $32.00.

Shares of Tower International (NYSE:TOWR) traded down 0.61% during trading on Friday, reaching $24.55. 28,693 shares of the company’s stock were exchanged. Tower International has a 12-month low of $20.85 and a 12-month high of $30.50. The company has a 50 day moving average of $22.59 and a 200 day moving average of $25.12. The stock has a market cap of $503.79 million, a P/E ratio of 7.14 and a beta of 2.57.

Tower International (NYSE:TOWR) last released its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $489.93 million for the quarter, compared to the consensus estimate of $494.87 million. Tower International had a net margin of 3.76% and a return on equity of 33.20%. The business’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. Equities research analysts anticipate that Tower International will post $3.63 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Tuesday, August 8th. Tower International’s dividend payout ratio (DPR) is 12.87%.

A number of large investors have recently made changes to their positions in the company. State Street Corp increased its stake in shares of Tower International by 4.8% in the fourth quarter. State Street Corp now owns 388,819 shares of the auto parts company’s stock valued at $11,024,000 after buying an additional 17,969 shares during the last quarter. James Investment Research Inc. increased its stake in shares of Tower International by 80.0% in the first quarter. James Investment Research Inc. now owns 107,260 shares of the auto parts company’s stock valued at $2,907,000 after buying an additional 47,670 shares during the last quarter. LSV Asset Management increased its stake in shares of Tower International by 2.1% in the first quarter. LSV Asset Management now owns 1,084,295 shares of the auto parts company’s stock valued at $29,384,000 after buying an additional 22,600 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Tower International by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 261,887 shares of the auto parts company’s stock valued at $7,098,000 after buying an additional 17,229 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in shares of Tower International by 9.1% in the first quarter. Gamco Investors INC. ET AL now owns 10,800 shares of the auto parts company’s stock valued at $293,000 after buying an additional 900 shares during the last quarter. 89.40% of the stock is currently owned by hedge funds and other institutional investors.

About Tower International

Tower International, Inc is a global manufacturer of engineered automotive structural metal components and assemblies primarily serving original equipment manufacturers (OEMs). The Company’s product portfolio includes body-structure stampings, frame and other chassis structures, and welded assemblies for small and large cars, crossovers, pickups and sport utility vehicles (SUVs).

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