Charles Schwab Investment Management Inc. trimmed its stake in TPI Composites, Inc. (NASDAQ:TPIC – Free Report) by 25.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 861,663 shares of the industrial products company’s stock after selling 290,869 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in TPI Composites were worth $3,921,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of TPI Composites by 3.3% during the first quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock valued at $6,654,000 after buying an additional 72,056 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in TPI Composites by 12.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 3,737 shares in the last quarter. SG Americas Securities LLC acquired a new position in TPI Composites during the 2nd quarter worth $44,000. Bank of New York Mellon Corp grew its stake in shares of TPI Composites by 26.9% in the second quarter. Bank of New York Mellon Corp now owns 156,765 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 33,275 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of TPI Composites by 30.6% in the second quarter. Rhumbline Advisers now owns 76,989 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 18,045 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Bank of America reduced their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of TPI Composites in a research note on Thursday. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price objective (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Finally, Jefferies Financial Group began coverage on TPI Composites in a report on Thursday, October 17th. They set a “hold” rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TPI Composites has an average rating of “Hold” and an average target price of $4.58.
TPI Composites Price Performance
Shares of NASDAQ TPIC opened at $1.23 on Friday. TPI Composites, Inc. has a twelve month low of $1.21 and a twelve month high of $5.75. The firm has a 50-day moving average of $2.87 and a two-hundred day moving average of $3.79.
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) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.
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