Citigroup Inc. boosted its position in TPI Composites Inc (NASDAQ:TPIC) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,459 shares of the industrial products company’s stock after buying an additional 3,932 shares during the quarter. Citigroup Inc. owned approximately 0.15% of TPI Composites worth $1,241,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of TPIC. Oppenheimer Asset Management Inc. acquired a new position in TPI Composites in the 4th quarter valued at $60,000. Pearl River Capital LLC acquired a new position in TPI Composites in the 4th quarter valued at $113,000. First Republic Investment Management Inc. acquired a new position in TPI Composites in the 3rd quarter valued at $210,000. Bessemer Group Inc. acquired a new position in TPI Composites in the 3rd quarter valued at $211,000. Finally, LPL Financial LLC acquired a new position in TPI Composites in the 3rd quarter valued at $246,000. Institutional investors and hedge funds own 70.58% of the company’s stock.
NASDAQ TPIC opened at $31.14 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.51 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 389.25 and a beta of 0.88. TPI Composites Inc has a 52-week low of $21.61 and a 52-week high of $32.74.
A number of research firms recently issued reports on TPIC. BidaskClub upgraded shares of TPI Composites from a “hold” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. upgraded shares of TPI Composites from a “neutral” rating to an “overweight” rating and set a $34.00 price target on the stock in a research report on Tuesday, March 5th. Zacks Investment Research upgraded shares of TPI Composites from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 14th. Finally, TheStreet lowered shares of TPI Composites from a “b-” rating to a “c” rating in a research report on Wednesday, January 23rd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. TPI Composites presently has an average rating of “Buy” and a consensus target price of $36.94.
In other TPI Composites news, insider Thomas J. Castle sold 1,018 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.00, for a total value of $29,522.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael Lawrence Derosa sold 59,633 shares of the firm’s stock in a transaction on Monday, December 17th. The stock was sold at an average price of $24.94, for a total transaction of $1,487,247.02. Following the completion of the sale, the director now owns 6,620 shares in the company, valued at $165,102.80. The disclosure for this sale can be found here. Insiders sold a total of 674,327 shares of company stock worth $19,856,644 over the last 90 days. Company insiders own 58.20% of the company’s stock.
About TPI Composites
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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