TPI Composites Inc (NASDAQ:TPIC) Major Shareholder Sells $3,222,425.40 in Stock

TPI Composites Inc (NASDAQ:TPIC) major shareholder Element Partners Ii Intrafund sold 116,670 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $27.62, for a total transaction of $3,222,425.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Element Partners Ii Intrafund also recently made the following trade(s):

  • On Friday, September 21st, Element Partners Ii Intrafund sold 117,534 shares of TPI Composites stock. The stock was sold at an average price of $28.08, for a total transaction of $3,300,354.72.
  • On Tuesday, September 18th, Element Partners Ii Intrafund sold 111,679 shares of TPI Composites stock. The stock was sold at an average price of $27.56, for a total transaction of $3,077,873.24.
  • On Monday, September 10th, Element Partners Ii Intrafund sold 94,650 shares of TPI Composites stock. The stock was sold at an average price of $27.39, for a total transaction of $2,592,463.50.
  • On Wednesday, September 5th, Element Partners Ii Intrafund sold 134,392 shares of TPI Composites stock. The stock was sold at an average price of $27.32, for a total transaction of $3,671,589.44.
  • On Tuesday, August 28th, Element Partners Ii Intrafund sold 223,182 shares of TPI Composites stock. The stock was sold at an average price of $28.56, for a total transaction of $6,374,077.92.
  • On Thursday, August 23rd, Element Partners Ii Intrafund sold 189,236 shares of TPI Composites stock. The stock was sold at an average price of $27.96, for a total transaction of $5,291,038.56.
  • On Friday, July 20th, Element Partners Ii Intrafund sold 22,836 shares of TPI Composites stock. The stock was sold at an average price of $29.56, for a total transaction of $675,032.16.

Shares of TPI Composites stock traded down $1.19 on Friday, hitting $26.61. The company had a trading volume of 638,830 shares, compared to its average volume of 285,848. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.65 and a quick ratio of 1.63. The stock has a market capitalization of $982.48 million, a PE ratio of 21.29 and a beta of -0.89. TPI Composites Inc has a 52 week low of $16.35 and a 52 week high of $32.22.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Tuesday, August 7th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.09). The company had revenue of $230.61 million during the quarter, compared to the consensus estimate of $240.29 million. TPI Composites had a net margin of 3.17% and a return on equity of 17.01%. On average, analysts forecast that TPI Composites Inc will post 0.3 earnings per share for the current fiscal year.

Several equities research analysts have commented on TPIC shares. Cowen set a $35.00 price target on shares of TPI Composites and gave the company a “buy” rating in a research note on Wednesday, August 8th. UBS Group upgraded shares of TPI Composites from a “neutral” rating to a “buy” rating and raised their price target for the company from $23.00 to $31.00 in a research note on Wednesday, June 20th. TheStreet upgraded shares of TPI Composites from a “c” rating to a “b-” rating in a research note on Monday, July 23rd. ValuEngine lowered shares of TPI Composites from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Finally, BidaskClub lowered shares of TPI Composites from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. TPI Composites has an average rating of “Buy” and a consensus target price of $33.83.

Several institutional investors have recently bought and sold shares of TPIC. Rhumbline Advisers bought a new position in shares of TPI Composites in the first quarter valued at approximately $222,000. Trexquant Investment LP bought a new position in shares of TPI Composites in the first quarter valued at approximately $501,000. Thrivent Financial for Lutherans boosted its holdings in shares of TPI Composites by 1.3% in the first quarter. Thrivent Financial for Lutherans now owns 458,987 shares of the industrial products company’s stock valued at $10,304,000 after acquiring an additional 5,987 shares in the last quarter. Trillium Asset Management LLC boosted its holdings in shares of TPI Composites by 12.6% in the first quarter. Trillium Asset Management LLC now owns 116,919 shares of the industrial products company’s stock valued at $2,625,000 after acquiring an additional 13,110 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of TPI Composites by 36.2% in the first quarter. BlackRock Inc. now owns 692,045 shares of the industrial products company’s stock valued at $15,537,000 after acquiring an additional 184,039 shares in the last quarter. Institutional investors and hedge funds own 51.24% of the company’s stock.

TPI Composites Company 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.

Further Reading: NASDAQ

Insider Buying and Selling by Quarter for TPI Composites (NASDAQ:TPIC)

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