Blue Mountain Capital is Buying Tower International Inc. (NYSE:TOWR) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tower International Inc. (NYSE:TOWR) reported that Blue Mountain Capital has picked up 980,910 of common stock as of 2017-02-24.

The acquisition brings the aggregate amount owned by Blue Mountain Capital to a total of 980,910 representing a 4.8% stake in the company.

For those not familiar with the company, Tower International, Inc. is a global manufacturer of engineered automotive structural metal components and assemblies primarily serving original equipment manufacturers (OEMs). The Company operates in two segments: Americas and International. The International segment consists of Europe and Asia, and the Americas segment consists of North America 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 approximately 30 facilities, located in North America, Europe, Brazil and China. The Company supports its manufacturing operations through approximately seven engineering and sales locations around the world. It produces a range of structural components and assemblies.

A glance at Tower International Inc. (NYSE:TOWR)’s key stats reveals a current market capitalization of 559.44 million based on 20.38 million shares outstanding and a price at last close of $28.05 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-06-28, Gouin picked up 1,000 at a purchase price of $19.64. This brings their total holding to 111,212 as of the date of the filing.

On the sell side, the most recent transaction saw Rajkovic unload 60,000 shares at a sale price of $28.07. This brings their total holding to 0.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Tower International Inc. (NYSE:TOWR) as things move forward to see if its progress aligns with these transactions.

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