Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Decreases Stake in TPI Composites, Inc. (NASDAQ:TPIC)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its holdings in shares of TPI Composites, Inc. (NASDAQ:TPICGet Rating) by 13.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,691 shares of the industrial products company’s stock after selling 7,373 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in TPI Composites were worth $515,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TPIC. SG Americas Securities LLC bought a new stake in shares of TPI Composites during the 3rd quarter valued at $148,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of TPI Composites by 28.4% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 19,872 shares of the industrial products company’s stock valued at $231,000 after buying an additional 4,399 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of TPI Composites by 31.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,123 shares of the industrial products company’s stock worth $114,000 after buying an additional 2,403 shares in the last quarter. Guinness Atkinson Asset Management Inc boosted its position in shares of TPI Composites by 11.9% in the third quarter. Guinness Atkinson Asset Management Inc now owns 18,748 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 1,988 shares during the period. Finally, Guinness Asset Management LTD grew its stake in TPI Composites by 7.6% during the third quarter. Guinness Asset Management LTD now owns 453,976 shares of the industrial products company’s stock valued at $5,121,000 after acquiring an additional 32,226 shares in the last quarter. 82.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on TPIC. StockNews.com initiated coverage on shares of TPI Composites in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Piper Sandler reduced their target price on TPI Composites from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, October 17th. Craig Hallum raised TPI Composites from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Friday, November 4th. JPMorgan Chase & Co. cut their price objective on TPI Composites from $21.00 to $20.00 in a report on Thursday, December 15th. Finally, Morgan Stanley lowered their target price on shares of TPI Composites from $21.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 10th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, TPI Composites currently has an average rating of “Moderate Buy” and an average target price of $18.45.

TPI Composites Stock Up 0.3 %

Shares of NASDAQ:TPIC opened at $13.35 on Friday. The stock has a market capitalization of $560.05 million, a P/E ratio of -3.36 and a beta of 1.70. The stock’s 50-day moving average price is $11.28 and its 200-day moving average price is $13.10. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.01. TPI Composites, Inc. has a 12-month low of $8.46 and a 12-month high of $25.05.

TPI Composites (NASDAQ:TPICGet Rating) last posted its earnings results on Thursday, November 3rd. The industrial products company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.18). The firm had revenue of $459.27 million for the quarter, compared to analysts’ expectations of $468.89 million. TPI Composites had a negative return on equity of 66.10% and a negative net margin of 6.53%. On average, equities analysts anticipate that TPI Composites, Inc. will post -2.22 earnings per share for the current year.

TPI Composites Profile

(Get Rating)

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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Institutional Ownership by Quarter for TPI Composites (NASDAQ:TPIC)

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