TPI Composites Inc (TPIC) Stake Increased by Trillium Asset Management LLC
Trillium Asset Management LLC raised its position in shares of TPI Composites Inc (NASDAQ:TPIC) by 0.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 122,207 shares of the industrial products company’s stock after acquiring an additional 750 shares during the period. Trillium Asset Management LLC’s holdings in TPI Composites were worth $3,498,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its holdings in shares of TPI Composites by 13.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 2,758 shares of the industrial products company’s stock worth $79,000 after buying an additional 328 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of TPI Composites by 4.7% during the fourth quarter. Advisor Group Inc. now owns 13,761 shares of the industrial products company’s stock worth $338,000 after buying an additional 613 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of TPI Composites by 28.6% during the fourth quarter. Legal & General Group Plc now owns 2,775 shares of the industrial products company’s stock worth $68,000 after buying an additional 617 shares in the last quarter. Investec Asset Management LTD increased its holdings in shares of TPI Composites by 0.7% during the fourth quarter. Investec Asset Management LTD now owns 96,327 shares of the industrial products company’s stock worth $2,368,000 after buying an additional 685 shares in the last quarter. Finally, CoreCommodity Management LLC increased its holdings in shares of TPI Composites by 19.3% during the fourth quarter. CoreCommodity Management LLC now owns 7,957 shares of the industrial products company’s stock worth $196,000 after buying an additional 1,285 shares in the last quarter. 70.02% of the stock is owned by institutional investors.
In other TPI Composites news, insider Thomas J. Castle sold 1,018 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.00, for a total value of $29,522.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Lawrence Derosa sold 66,748 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $31.42, for a total transaction of $2,097,222.16. Following the completion of the transaction, the director now directly owns 6,620 shares in the company, valued at $208,000.40. The disclosure for this sale can be found here. Insiders have sold 127,066 shares of company stock worth $3,989,717 over the last three months. 20.30% of the stock is owned by insiders.
Shares of TPIC traded up $0.31 during mid-day trading on Thursday, hitting $22.85. 5,634 shares of the company traded hands, compared to its average volume of 359,503. TPI Composites Inc has a one year low of $21.67 and a one year high of $32.74. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.33 and a quick ratio of 1.31. The stock has a market capitalization of $809.20 million, a P/E ratio of 284.50 and a beta of 0.88.
TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported ($0.35) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.02. TPI Composites had a negative net margin of 1.44% and a negative return on equity of 8.24%. The business had revenue of $299.78 million for the quarter, compared to analysts’ expectations of $300.16 million. As a group, analysts anticipate that TPI Composites Inc will post -0.06 EPS for the current year.
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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.
Read More: Intrinsic Value and Stock Selection
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