Advisory Research Inc. Lowers Holdings in TPI Composites, Inc. (NASDAQ:TPIC)

Advisory Research Inc. decreased its stake in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 35.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,650 shares of the industrial products company’s stock after selling 11,527 shares during the quarter. Advisory Research Inc. owned about 0.06% of TPI Composites worth $1,165,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of TPI Composites in the 4th quarter worth $1,057,000. Rockefeller Capital Management L.P. increased its holdings in shares of TPI Composites by 1.4% in the 1st quarter. Rockefeller Capital Management L.P. now owns 748,180 shares of the industrial products company’s stock worth $42,218,000 after purchasing an additional 10,254 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of TPI Composites by 67.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 26,378 shares of the industrial products company’s stock worth $1,489,000 after purchasing an additional 10,589 shares in the last quarter. DnB Asset Management AS bought a new stake in shares of TPI Composites in the 1st quarter worth $3,373,000. Finally, Alps Advisors Inc. increased its holdings in shares of TPI Composites by 37.9% in the 1st quarter. Alps Advisors Inc. now owns 346,129 shares of the industrial products company’s stock worth $19,532,000 after purchasing an additional 95,205 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

In other news, General Counsel Steven G. Fishbach sold 1,595 shares of the business’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $52.30, for a total value of $83,418.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William E. Siwek sold 3,480 shares of the business’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $52.30, for a total value of $182,004.00. Following the completion of the transaction, the chief executive officer now owns 106,412 shares in the company, valued at $5,565,347.60. The disclosure for this sale can be found here. Insiders sold 222,457 shares of company stock worth $10,186,419 over the last 90 days. Company insiders own 5.60% of the company’s stock.

A number of research firms have commented on TPIC. Zacks Investment Research lowered TPI Composites from a “hold” rating to a “sell” rating in a report on Friday, May 21st. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 target price on shares of TPI Composites in a report on Monday, May 17th. Morgan Stanley cut their price objective on TPI Composites from $68.00 to $62.00 and set an “overweight” rating for the company in a report on Tuesday, May 18th. Piper Sandler began coverage on TPI Composites in a report on Thursday. They issued a “neutral” rating and a $50.00 price objective for the company. Finally, Craig Hallum lowered TPI Composites from a “buy” rating to a “hold” rating in a report on Friday, February 26th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $58.92.

NASDAQ:TPIC opened at $44.51 on Friday. The firm’s 50-day moving average is $49.94. TPI Composites, Inc. has a 52-week low of $20.27 and a 52-week high of $81.36. The company has a quick ratio of 1.25, a current ratio of 1.28 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -68.48 and a beta of 1.58.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, May 6th. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.05. TPI Composites had a positive return on equity of 13.12% and a negative net margin of 1.18%. The business had revenue of $404.68 million during the quarter, compared to analyst estimates of $414.90 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. TPI Composites’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities analysts anticipate that TPI Composites, Inc. will post 0.54 earnings per share for the current year.

TPI Composites Company Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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Institutional Ownership by Quarter for TPI Composites (NASDAQ:TPIC)

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