Charles Schwab Investment Management Inc. Cuts Stock Position in TPI Composites, Inc. (NASDAQ:TPIC)

Charles Schwab Investment Management Inc. decreased its stake in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 29.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 611,369 shares of the industrial products company’s stock after selling 250,294 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in TPI Composites were worth $1,155,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its holdings in shares of TPI Composites by 8.2% during the fourth quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company’s stock valued at $548,000 after acquiring an additional 22,005 shares in the last quarter. Swedbank AB boosted its stake in TPI Composites by 210.6% in the 4th quarter. Swedbank AB now owns 131,063 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 88,868 shares in the last quarter. Sustainable Insight Capital Management LLC purchased a new stake in TPI Composites during the 4th quarter valued at about $80,000. Cedar Point Capital Partners LLC increased its stake in TPI Composites by 100.0% during the 4th quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Peoples Bank KS raised its holdings in TPI Composites by 100.0% in the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after buying an additional 10,000 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

TPI Composites Stock Down 8.2 %

TPI Composites stock opened at $0.78 on Monday. The firm has a market cap of $37.22 million, a P/E ratio of -0.15 and a beta of 2.07. The business has a fifty day moving average of $1.25 and a two-hundred day moving average of $2.27. TPI Composites, Inc. has a twelve month low of $0.77 and a twelve month high of $5.75.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The firm had revenue of $346.51 million during the quarter, compared to analyst estimates of $364.83 million. Equities analysts expect that TPI Composites, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TPIC has been the topic of several analyst reports. Jefferies Financial Group cut TPI Composites from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $2.30 to $0.50 in a research report on Tuesday, March 18th. Roth Mkm lowered their price target on TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a report on Friday, February 21st. UBS Group reduced their price objective on TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Finally, StockNews.com upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.19.

Insider Activity at TPI Composites

In other news, major shareholder Construction Taahhut A.S. Dere acquired 49,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $1.59 per share, for a total transaction of $77,910.00. Following the completion of the transaction, the insider now owns 4,229,232 shares in the company, valued at approximately $6,724,478.88. The trade was a 1.17 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 205,000 shares of company stock worth $307,050 over the last quarter. Insiders own 3.70% 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 (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.