Elk Creek Partners LLC decreased its holdings in shares of TPI Composites Inc (NASDAQ:TPIC) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 217,986 shares of the industrial products company’s stock after selling 1,329 shares during the period. Elk Creek Partners LLC owned about 0.62% of TPI Composites worth $6,239,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of TPI Composites by 272.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 78,195 shares of the industrial products company’s stock worth $2,232,000 after acquiring an additional 57,199 shares during the last quarter. Teachers Advisors LLC grew its holdings in TPI Composites by 9.6% in the 3rd quarter. Teachers Advisors LLC now owns 28,989 shares of the industrial products company’s stock valued at $828,000 after buying an additional 2,536 shares in the last quarter. Vanguard Group Inc. grew its holdings in TPI Composites by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 855,782 shares of the industrial products company’s stock valued at $24,433,000 after buying an additional 47,096 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in TPI Composites by 12.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,034 shares of the industrial products company’s stock valued at $714,000 after buying an additional 3,107 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in TPI Composites in the 4th quarter valued at $60,000. Hedge funds and other institutional investors own 78.50% of the company’s stock.
In other TPI Composites news, Director Stephen Bransfield acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average cost of $22.85 per share, for a total transaction of $91,400.00. Following the transaction, the director now directly owns 23,137 shares in the company, valued at $528,680.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul G. Giovacchini bought 5,000 shares of the stock in a transaction on Monday, June 10th. The stock was purchased at an average cost of $22.55 per share, with a total value of $112,750.00. Following the acquisition, the director now owns 15,017 shares in the company, valued at $338,633.35. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 15,400 shares of company stock valued at $342,282. Corporate insiders own 20.30% of the company’s stock.
Shares of NASDAQ:TPIC traded down $0.24 during trading on Wednesday, reaching $23.94. 415,300 shares of the company traded hands, compared to its average volume of 374,506. The business’s 50 day moving average price is $22.95. The company has a market capitalization of $861.02 million, a price-to-earnings ratio of 299.25 and a beta of 1.42. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.33 and a quick ratio of 1.31. TPI Composites Inc has a 52 week low of $19.54 and a 52 week high of $32.74.
TPI Composites (NASDAQ:TPIC) last released its earnings results on Wednesday, May 8th. The industrial products company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.02. The firm had revenue of $299.78 million during the quarter, compared to the consensus estimate of $300.16 million. TPI Composites had a negative return on equity of 8.24% and a negative net margin of 1.44%. As a group, sell-side analysts forecast that TPI Composites Inc will post -0.07 EPS for the current fiscal year.
A number of research analysts have commented on the company. ValuEngine raised TPI Composites from a “hold” rating to a “buy” rating in a report on Monday, April 1st. BidaskClub lowered TPI Composites from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. raised TPI Composites from a “neutral” rating to an “overweight” rating and set a $34.00 price objective on the stock in a report on Tuesday, March 5th. Finally, Zacks Investment Research lowered TPI Composites from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.72.
TPI Composites Profile
TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.
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