Phocas Financial Corp. lessened its stake in Tower International, Inc. (NYSE:TOWR) by 36.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,969 shares of the auto parts company’s stock after selling 133,209 shares during the quarter. Phocas Financial Corp. owned 1.15% of Tower International worth $5,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of Tower International by 32.7% in the 1st quarter. SG Americas Securities LLC now owns 5,944 shares of the auto parts company’s stock worth $161,000 after purchasing an additional 1,464 shares during the last quarter. Bowling Portfolio Management LLC purchased a new position in shares of Tower International in the 2nd quarter worth about $225,000. Cigna Investments Inc. New purchased a new position in shares of Tower International in the 2nd quarter worth about $317,000. American International Group Inc. raised its position in shares of Tower International by 7.1% in the 1st quarter. American International Group Inc. now owns 12,627 shares of the auto parts company’s stock worth $342,000 after purchasing an additional 833 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new position in shares of Tower International in the 2nd quarter worth about $404,000. 88.72% of the stock is owned by hedge funds and other institutional investors.

Tower International, Inc. (TOWR) remained flat at $27.75 during midday trading on Tuesday. The stock had a trading volume of 24,593 shares. The company’s 50-day moving average price is $24.98 and its 200-day moving average price is $24.05. The firm has a market capitalization of $569.46 million, a P/E ratio of 8.08 and a beta of 2.69. Tower International, Inc. has a 12-month low of $20.85 and a 12-month high of $30.50.

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

Several research firms have recently issued reports on TOWR. BidaskClub raised Tower International from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. TheStreet raised Tower International from a “c+” rating to a “b” rating in a research report on Thursday, September 28th. Zacks Investment Research lowered Tower International from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. ValuEngine raised Tower International from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Tower International in a research report on Friday, June 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.50.

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Tower International Profile

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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Institutional Ownership by Quarter for Tower International (NYSE:TOWR)

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