Tower International Inc. (NYSE:TOWR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “TA Delaware, Inc. is engaged in the manufacture of engineered structural metal components and assemblies primarily serving automotive original equipment manufacturers. It offers its automotive customers body-structure stampings, frame and other chassis structures, as well as complex welded assemblies, for small and large cars, crossovers, pickups and SUVs. Its manufacturing operations consist primarily of stamping and welding operations, system and modular assembly operations, coating, and other ancillary operations. The Company uses various grades and thicknesses of steel and aluminum; including high-strength, hot- and cold-rolled, galvanized, organically coated, stainless, and aluminized steel; for the manufacture of its products. TA Delaware, Inc. is headquartered in Livonia, Michigan. “

Several other analysts have also recently commented on TOWR. FBR & Co reaffirmed a “buy” rating on shares of Tower International in a research note on Saturday, June 18th. Seaport Global Securities assumed coverage on shares of Tower International in a research note on Tuesday, August 9th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Wells Fargo & Co. reaffirmed a “hold” rating and issued a $24.00 target price on shares of Tower International in a research note on Monday, July 18th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $30.40.

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Shares of Tower International (NYSE:TOWR) traded up 0.80% during mid-day trading on Wednesday, hitting $23.80. The stock had a trading volume of 89,793 shares. The stock has a market cap of $501.04 million, a P/E ratio of 3.10 and a beta of 2.01. Tower International has a 12-month low of $18.75 and a 12-month high of $31.41. The company’s 50 day moving average price is $23.38 and its 200 day moving average price is $23.31.

Tower International (NYSE:TOWR) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.10. Tower International had a return on equity of 162.08% and a net margin of 8.31%. The firm earned $505.10 million during the quarter, compared to the consensus estimate of $504.70 million. During the same period in the previous year, the firm posted $1.05 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts predict that Tower International will post $3.20 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.40 annualized dividend and a dividend yield of 1.68%. Tower International’s dividend payout ratio is presently 5.21%.

In other Tower International news, CFO James C. Gouin purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The stock was purchased at an average cost of $19.66 per share, with a total value of $49,150.00. Following the transaction, the chief financial officer now owns 110,212 shares in the company, valued at $2,166,767.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas K. Brown purchased 6,390 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were acquired at an average cost of $19.70 per share, with a total value of $125,883.00. Following the completion of the transaction, the director now owns 6,390 shares in the company, valued at approximately $125,883. The disclosure for this purchase can be found here. Insiders own 6.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the company. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Tower International during the second quarter worth $562,000. State Street Corp boosted its stake in shares of Tower International by 6.4% in the first quarter. State Street Corp now owns 441,849 shares of the company’s stock worth $12,018,000 after buying an additional 26,472 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of Tower International by 3.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 16,034 shares of the company’s stock worth $436,000 after buying an additional 535 shares during the period. Alambic Investment Management L.P. acquired a new stake in shares of Tower International during the second quarter worth $311,000. Finally, Prudential PLC boosted its stake in shares of Tower International by 12.3% in the first quarter. Prudential PLC now owns 302,600 shares of the company’s stock worth $8,231,000 after buying an additional 33,100 shares during the period. 92.24% of the stock is 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 operates in two segments: Americas and International. The International segment consists of Europe and Asia, and the Americas segment consists of North America and South America.

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