Deroy & Devereaux Private Investment Counsel INC Increased Tower International INC (NYSE:TOWR) by $4.16 Million as Shares Declined


Deroy & Devereaux Private Investment Counsel Inc increased its stake in Tower International Inc (NYSE:TOWR) by 24.66% based on its latest 2016Q2 regulatory filing with the SEC. Deroy & Devereaux Private Investment Counsel Inc bought 153,951 shares as the company’s stock declined 1.70% while stock markets rallied. The institutional investor held 778,242 shares of the capital goods company at the end of 2016Q2, valued at $21.17M, up from 624,291 at the end of the previous reported quarter. Deroy & Devereaux Private Investment Counsel Inc who had been investing in Tower International Inc for a number of months, seems to be bullish on the $503.44 million market cap company. The stock is down 1.52% or $0.36 hitting $23.4, despite the positive news. About 10,680 shares traded hands. Tower International Inc (NYSE:TOWR) has risen 10.26% since February 8, 2016 and is uptrending. It has underperformed by 6.23% the S&P500.

Deroy & Devereaux Private Investment Counsel Inc, which manages about $945.37 million and $732.27M US Long portfolio, decreased its stake in Keycorp (NYSE:KEY) by 822,437 shares to 21,000 shares, valued at $232,000 in 2016Q2, according to the filing.

Deroy & Devereaux Private Investment Counsel Inc is a Michigan-based institutional investor with more than $945.37 million AUM in November, 2014. Taken from Deroy & Devereaux Private Investment Counsel latest Adv, the fund reported to have 15 full and part-time employees. Among which 6 performing investment advisory and research functions. The institutional investor had more than 100 clients.

The institutional sentiment increased to 1.04 in 2016 Q2. Its up 0.14, from 0.9 in 2016Q1. The ratio improved, as 23 funds sold all TOWR shares owned while 44 reduced positions. 27 funds bought stakes while 43 increased positions. They now own 18.95 million shares or 4.63% more from 18.11 million shares in 2016Q1.

Sessa Capital Im L.P. holds 0.87% of its portfolio in TOWR for 141,529 shares. Dalton Greiner Hartman Maher & Co owns 560,081 shares or 0.71% of their US portfolio. Moreover, New Amsterdam Partners Llc Ny has 0.67% invested in the company for 134,096 shares. The New York-based Bluemountain Capital Management Llc has invested 0.65% in the stock. Buckhead Capital Management Llc, a Georgia-based fund reported 154,355 shares.

Out of 3 analysts covering Tower International Inc (NYSE:TOWR), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Tower International Inc has been the topic of 5 analyst reports since October 20, 2015 according to StockzIntelligence Inc. Seaport Global initiated the stock on August 9 with “Buy” rating.

Tower International, Inc. is a global maker of engineered automotive structural metal components and assemblies primarily serving original equipment manufacturers . The company has a market cap of $503.44 million. The Firm operates in two divisions: Americas and International. It has a 2.98 P/E ratio. The International segment consists of Europe and Asia, and the Americas segment consists of North America and South America.

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