Formula Growth Ltd buys $9,182,117 stake in Tower International Inc (TOWR)

Tower International Inc (TOWR) : Formula Growth Ltd scooped up 256,431 additional shares in Tower International Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 378,644 shares of Tower International Inc which is valued at $9,182,117.Tower International Inc makes up approximately 2.14% of Formula Growth Ltd’s portfolio.

Other Hedge Funds, Including , Arrowstreet Capital Limited Partnership added TOWR to its portfolio by purchasing 12,500 company shares during the most recent quarter which is valued at $303,125.Emerald Acquisition Ltd. reduced its stake in TOWR by selling 28,082 shares or 24.45% in the most recent quarter. The Hedge Fund company now holds 86,784 shares of TOWR which is valued at $2,000,371.Rhumbline Advisers boosted its stake in TOWR in the latest quarter, The investment management firm added 350 additional shares and now holds a total of 25,341 shares of Tower International Inc which is valued at $592,979.Victory Capital Management Inc boosted its stake in TOWR in the latest quarter, The investment management firm added 13,600 additional shares and now holds a total of 41,350 shares of Tower International Inc which is valued at $951,050.

Tower International Inc opened for trading at $26.05 and hit $26.45 on the upside on Monday, eventually ending the session at $26.2, with a gain of 0.77% or 0.2 points. The heightened volatility saw the trading volume jump to 92,011 shares. Company has a market cap of $533 M.

On the company’s financial health, Tower International Inc reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $0.80. The company had revenue of $457.00 million for the quarter, compared to analysts expectations of $466.68 million. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.

Tower International Inc. is a global manufacturer of engineered automotive structural metal components and assemblies serving automotive original equipment manufacturers (OEMs). The Company operates in two segments: the Americas and International. The International segment consists of Europe and Asia and the Americas segment consists of North and South America. The Company offers its automotive customers a product portfolio supplying body-structure stampings frame and other chassis structures and complex welded assemblies for small and large cars crossovers pickups and sport utility vehicles (SUVs). The Company’s products are manufactured at 27 facilities located in North America Europe Brazil and China. The Company supports its manufacturing operations through seven engineering and sales locations around the world. The Company produces a range of structural components and assemblies.

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