Intrinsic value of Tower International - TOWR

Previous Close

$30.19

  Intrinsic Value

$301.33

stock screener

  Rating & Target

str. buy

+898%

Previous close

$30.19

 
Intrinsic value

$301.33

 
Up/down potential

+898%

 
Rating

str. buy

We calculate the intrinsic value of TOWR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  13.50
  12.65
  11.89
  11.20
  10.58
  10.02
  9.52
  9.07
  8.66
  8.29
  7.96
  7.67
  7.40
  7.16
  6.94
  6.75
  6.58
  6.42
  6.28
  6.15
  6.03
  5.93
  5.84
  5.75
  5.68
  5.61
  5.55
  5.49
  5.44
  5.40
Revenue, $m
  2,256
  2,542
  2,844
  3,162
  3,497
  3,847
  4,213
  4,595
  4,993
  5,407
  5,838
  6,286
  6,751
  7,234
  7,737
  8,259
  8,802
  9,367
  9,955
  10,567
  11,204
  11,868
  12,561
  13,284
  14,038
  14,826
  15,648
  16,508
  17,407
  18,347
Variable operating expenses, $m
  1,644
  1,851
  2,071
  2,302
  2,544
  2,799
  3,064
  3,342
  3,630
  3,931
  4,237
  4,562
  4,900
  5,251
  5,615
  5,994
  6,388
  6,798
  7,225
  7,669
  8,132
  8,614
  9,117
  9,641
  10,189
  10,760
  11,358
  11,982
  12,634
  13,316
Fixed operating expenses, $m
  443
  452
  462
  472
  483
  493
  504
  515
  527
  538
  550
  562
  575
  587
  600
  613
  627
  641
  655
  669
  684
  699
  714
  730
  746
  762
  779
  796
  814
  832
Total operating expenses, $m
  2,087
  2,303
  2,533
  2,774
  3,027
  3,292
  3,568
  3,857
  4,157
  4,469
  4,787
  5,124
  5,475
  5,838
  6,215
  6,607
  7,015
  7,439
  7,880
  8,338
  8,816
  9,313
  9,831
  10,371
  10,935
  11,522
  12,137
  12,778
  13,448
  14,148
Operating income, $m
  170
  238
  311
  388
  470
  555
  645
  738
  836
  938
  1,051
  1,161
  1,277
  1,396
  1,521
  1,651
  1,787
  1,928
  2,075
  2,228
  2,388
  2,555
  2,730
  2,913
  3,103
  3,303
  3,512
  3,730
  3,959
  4,199
EBITDA, $m
  259
  338
  422
  510
  604
  702
  805
  913
  1,025
  1,142
  1,264
  1,391
  1,523
  1,661
  1,804
  1,953
  2,109
  2,270
  2,439
  2,615
  2,798
  2,990
  3,189
  3,398
  3,617
  3,845
  4,084
  4,334
  4,596
  4,870
Interest expense (income), $m
  19
  21
  28
  36
  44
  52
  61
  71
  81
  91
  102
  113
  124
  136
  149
  162
  176
  190
  204
  219
  235
  252
  269
  287
  305
  325
  345
  366
  388
  411
  436
Earnings before tax, $m
  149
  210
  275
  344
  417
  494
  574
  658
  745
  836
  938
  1,037
  1,140
  1,247
  1,359
  1,476
  1,597
  1,724
  1,855
  1,993
  2,137
  2,287
  2,443
  2,607
  2,779
  2,958
  3,145
  3,342
  3,548
  3,763
Tax expense, $m
  40
  57
  74
  93
  113
  133
  155
  178
  201
  226
  253
  280
  308
  337
  367
  398
  431
  465
  501
  538
  577
  617
  660
  704
  750
  799
  849
  902
  958
  1,016
Net income, $m
  109
  153
  201
  251
  305
  360
  419
  480
  544
  611
  685
  757
  832
  911
  992
  1,077
  1,166
  1,258
  1,354
  1,455
  1,560
  1,669
  1,784
  1,903
  2,028
  2,159
  2,296
  2,440
  2,590
  2,747

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,430
  1,611
  1,802
  2,004
  2,216
  2,438
  2,670
  2,912
  3,164
  3,427
  3,700
  3,983
  4,278
  4,584
  4,903
  5,234
  5,578
  5,936
  6,308
  6,696
  7,100
  7,521
  7,960
  8,418
  8,896
  9,395
  9,917
  10,461
  11,031
  11,627
Adjusted assets (=assets-cash), $m
  1,430
  1,611
  1,802
  2,004
  2,216
  2,438
  2,670
  2,912
  3,164
  3,427
  3,700
  3,983
  4,278
  4,584
  4,903
  5,234
  5,578
  5,936
  6,308
  6,696
  7,100
  7,521
  7,960
  8,418
  8,896
  9,395
  9,917
  10,461
  11,031
  11,627
Revenue / Adjusted assets
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
  1.578
Average production assets, $m
  602
  679
  759
  844
  934
  1,027
  1,125
  1,227
  1,333
  1,444
  1,559
  1,678
  1,802
  1,932
  2,066
  2,205
  2,350
  2,501
  2,658
  2,821
  2,991
  3,169
  3,354
  3,547
  3,748
  3,958
  4,178
  4,408
  4,648
  4,899
Working capital, $m
  -16
  -18
  -20
  -22
  -24
  -27
  -29
  -32
  -35
  -38
  -41
  -44
  -47
  -51
  -54
  -58
  -62
  -66
  -70
  -74
  -78
  -83
  -88
  -93
  -98
  -104
  -110
  -116
  -122
  -128
Total debt, $m
  520
  663
  813
  972
  1,138
  1,313
  1,495
  1,686
  1,884
  2,090
  2,304
  2,527
  2,759
  3,000
  3,250
  3,510
  3,781
  4,062
  4,355
  4,660
  4,977
  5,308
  5,653
  6,013
  6,389
  6,781
  7,191
  7,619
  8,067
  8,535
Total liabilities, $m
  1,124
  1,266
  1,417
  1,575
  1,742
  1,916
  2,099
  2,289
  2,487
  2,693
  2,908
  3,131
  3,363
  3,603
  3,854
  4,114
  4,384
  4,666
  4,958
  5,263
  5,581
  5,912
  6,257
  6,617
  6,992
  7,385
  7,794
  8,223
  8,670
  9,139
Total equity, $m
  306
  345
  386
  429
  474
  522
  571
  623
  677
  733
  792
  852
  916
  981
  1,049
  1,120
  1,194
  1,270
  1,350
  1,433
  1,519
  1,610
  1,703
  1,801
  1,904
  2,011
  2,122
  2,239
  2,361
  2,488
Total liabilities and equity, $m
  1,430
  1,611
  1,803
  2,004
  2,216
  2,438
  2,670
  2,912
  3,164
  3,426
  3,700
  3,983
  4,279
  4,584
  4,903
  5,234
  5,578
  5,936
  6,308
  6,696
  7,100
  7,522
  7,960
  8,418
  8,896
  9,396
  9,916
  10,462
  11,031
  11,627
Debt-to-equity ratio
  1.700
  1.920
  2.110
  2.270
  2.400
  2.520
  2.620
  2.700
  2.780
  2.850
  2.910
  2.960
  3.010
  3.060
  3.100
  3.130
  3.170
  3.200
  3.230
  3.250
  3.280
  3.300
  3.320
  3.340
  3.360
  3.370
  3.390
  3.400
  3.420
  3.430
Adjusted equity ratio
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214
  0.214

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  109
  153
  201
  251
  305
  360
  419
  480
  544
  611
  685
  757
  832
  911
  992
  1,077
  1,166
  1,258
  1,354
  1,455
  1,560
  1,669
  1,784
  1,903
  2,028
  2,159
  2,296
  2,440
  2,590
  2,747
Depreciation, amort., depletion, $m
  89
  99
  110
  122
  134
  147
  160
  174
  189
  204
  214
  230
  247
  265
  283
  302
  322
  343
  364
  386
  410
  434
  459
  486
  513
  542
  572
  604
  637
  671
Funds from operations, $m
  198
  253
  311
  374
  439
  507
  579
  654
  733
  815
  898
  987
  1,079
  1,175
  1,275
  1,379
  1,488
  1,601
  1,719
  1,841
  1,970
  2,103
  2,243
  2,389
  2,542
  2,701
  2,869
  3,043
  3,227
  3,418
Change in working capital, $m
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
Cash from operations, $m
  200
  255
  314
  376
  441
  510
  582
  657
  736
  818
  901
  990
  1,082
  1,179
  1,279
  1,383
  1,492
  1,605
  1,723
  1,846
  1,974
  2,108
  2,248
  2,394
  2,547
  2,707
  2,874
  3,049
  3,233
  3,425
Maintenance CAPEX, $m
  -73
  -83
  -93
  -104
  -116
  -128
  -141
  -154
  -168
  -183
  -198
  -214
  -230
  -247
  -265
  -283
  -302
  -322
  -343
  -364
  -386
  -410
  -434
  -459
  -486
  -513
  -542
  -572
  -604
  -637
New CAPEX, $m
  -72
  -76
  -81
  -85
  -89
  -94
  -98
  -102
  -106
  -111
  -115
  -120
  -124
  -129
  -134
  -139
  -145
  -151
  -157
  -163
  -170
  -177
  -185
  -193
  -201
  -210
  -220
  -230
  -240
  -251
Cash from investing activities, $m
  -145
  -159
  -174
  -189
  -205
  -222
  -239
  -256
  -274
  -294
  -313
  -334
  -354
  -376
  -399
  -422
  -447
  -473
  -500
  -527
  -556
  -587
  -619
  -652
  -687
  -723
  -762
  -802
  -844
  -888
Free cash flow, $m
  55
  96
  140
  187
  236
  288
  343
  401
  461
  524
  588
  657
  728
  803
  880
  961
  1,045
  1,132
  1,223
  1,318
  1,417
  1,521
  1,629
  1,742
  1,860
  1,983
  2,112
  2,248
  2,389
  2,537
Issuance/(repayment) of debt, $m
  134
  142
  150
  159
  167
  175
  182
  190
  198
  206
  214
  223
  232
  241
  250
  260
  270
  281
  293
  305
  318
  331
  345
  360
  376
  392
  410
  428
  448
  468
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  134
  142
  150
  159
  167
  175
  182
  190
  198
  206
  214
  223
  232
  241
  250
  260
  270
  281
  293
  305
  318
  331
  345
  360
  376
  392
  410
  428
  448
  468
Total cash flow (excl. dividends), $m
  189
  238
  290
  345
  403
  463
  526
  591
  660
  731
  803
  880
  960
  1,043
  1,130
  1,221
  1,315
  1,413
  1,516
  1,623
  1,735
  1,852
  1,974
  2,102
  2,236
  2,376
  2,522
  2,676
  2,837
  3,005
Retained Cash Flow (-), $m
  -36
  -39
  -41
  -43
  -45
  -48
  -50
  -52
  -54
  -56
  -58
  -61
  -63
  -66
  -68
  -71
  -74
  -77
  -80
  -83
  -86
  -90
  -94
  -98
  -102
  -107
  -112
  -117
  -122
  -127
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  152
  200
  249
  302
  357
  415
  476
  540
  606
  674
  744
  819
  897
  978
  1,062
  1,150
  1,241
  1,337
  1,436
  1,540
  1,648
  1,762
  1,880
  2,004
  2,133
  2,269
  2,411
  2,559
  2,715
  2,878
Discount rate, %
  4.50
  4.73
  4.96
  5.21
  5.47
  5.74
  6.03
  6.33
  6.65
  6.98
  7.33
  7.70
  8.08
  8.49
  8.91
  9.36
  9.82
  10.31
  10.83
  11.37
  11.94
  12.54
  13.16
  13.82
  14.51
  15.24
  16.00
  16.80
  17.64
  18.52
PV of cash for distribution, $m
  146
  182
  216
  247
  274
  297
  316
  330
  339
  343
  342
  336
  327
  313
  295
  275
  252
  228
  204
  179
  154
  131
  109
  90
  72
  57
  44
  33
  24
  18
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Tower International, Inc. is a global manufacturer of engineered automotive structural metal components and assemblies primarily serving original equipment manufacturers (OEMs). The Company's product portfolio includes body-structure stampings, frame and other chassis structures, and welded assemblies for small and large cars, crossovers, pickups and sport utility vehicles (SUVs). The Company offers body structures and assemblies, including structural metal components, such as body pillars, roof rails and side sills. The Company also offers Class A surfaces and assemblies, which are components of the exterior skin of the vehicle, such as body sides, hoods, doors, fenders and pickup truck boxes. The Company's lower vehicle frames and structures include chassis structures. Its products include pickup truck and SUV full frames, automotive engine and rear suspension cradles, floor pan components and cross members that form the basic lower body structure of the vehicle.

FINANCIAL RATIOS  of  Tower International (TOWR)

Valuation Ratios
P/E Ratio 15.8
Price to Sales 0.3
Price to Book 3
Price to Tangible Book
Price to Cash Flow 4.3
Price to Free Cash Flow 22
Growth Rates
Sales Growth Rate 6.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -3.3%
Cap. Spend. - 3 Yr. Gr. Rate 8.3%
Financial Strength
Quick Ratio 2
Current Ratio 0.2
LT Debt to Equity 171.2%
Total Debt to Equity 187.5%
Interest Coverage 5
Management Effectiveness
Return On Assets 4.5%
Ret/ On Assets - 3 Yr. Avg. 9.8%
Return On Total Capital 6.3%
Ret/ On T. Cap. - 3 Yr. Avg. 14.5%
Return On Equity 19.2%
Return On Equity - 3 Yr. Avg. 72.6%
Asset Turnover 1.6
Profitability Ratios
Gross Margin 12.4%
Gross Margin - 3 Yr. Avg. 12.1%
EBITDA Margin 8.6%
EBITDA Margin - 3 Yr. Avg. 8.5%
Operating Margin 5.3%
Oper. Margin - 3 Yr. Avg. 4.8%
Pre-Tax Margin 3.9%
Pre-Tax Margin - 3 Yr. Avg. 3.3%
Net Profit Margin 2%
Net Profit Margin - 3 Yr. Avg. 4.7%
Effective Tax Rate 24.3%
Eff/ Tax Rate - 3 Yr. Avg. -52.6%
Payout Ratio 23.1%

TOWR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TOWR stock intrinsic value calculation we used $1988.046 million for the last fiscal year's total revenue generated by Tower International. The default revenue input number comes from 0001 income statement of Tower International. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TOWR stock valuation model: a) initial revenue growth rate of 13.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.5%, whose default value for TOWR is calculated based on our internal credit rating of Tower International, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Tower International.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TOWR stock the variable cost ratio is equal to 72.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $433 million in the base year in the intrinsic value calculation for TOWR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Tower International.

Corporate tax rate of 27% is the nominal tax rate for Tower International. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TOWR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TOWR are equal to 26.7%.

Life of production assets of 7.3 years is the average useful life of capital assets used in Tower International operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TOWR is equal to -0.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $269.872 million for Tower International - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 20.604 million for Tower International is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Tower International at the current share price and the inputted number of shares is $0.6 billion.

RELATED COMPANIES Price Int.Val. Rating
AXL American Axle& 12.59 66.73  str.buy
MGA Magna Internat 49.78 91.08  str.buy
SRI Stoneridge 27.07 25.98  hold
MLR Miller Industr 27.03 4.21  str.sell

COMPANY NEWS

▶ Tower International Inc (NYSE:TOWR): Ex-Dividend Is In 4 Days   [Nov-02-18 07:05AM  Simply Wall St.]
▶ Why Tower International Shares Jumped 13% Today   [Oct-29-18 05:29PM  Motley Fool]
▶ Heres Why These Five Stocks Are Trending   [02:41PM  Insider Monkey]
▶ Tower: 3Q Earnings Snapshot   [08:13AM  Associated Press]
▶ Tower International Declares Quarterly Dividend   [Oct-18-18 01:00PM  PR Newswire]
▶ Tower: 2Q Earnings Snapshot   [09:03AM  Associated Press]
▶ Tower International Declares Quarterly Dividend   [Jul-17-18 02:00PM  PR Newswire]
▶ June Top Stocks To Look Out For   [Jun-14-18 07:02AM  Simply Wall St.]
▶ [$$] Property prices boom in Budapest   [May-25-18 06:00AM  Financial Times]
▶ Tower: 1Q Earnings Snapshot   [May-03-18 09:52AM  Associated Press]
▶ Tower International Declares Quarterly Dividend   [Apr-19-18 01:00PM  PR Newswire]
▶ Tower reports 4Q loss   [09:12AM  Associated Press]
▶ Tower International Declares Quarterly Dividend   [Jan-26-18 01:00PM  PR Newswire]
▶ Tower beats Street 3Q forecasts   [Oct-30-17 08:11AM  Associated Press]
▶ Tower International Declares Quarterly Dividend   [Oct-20-17 02:00PM  PR Newswire]
▶ Tower tops 2Q profit forecasts   [Jul-26-17 09:56PM  Associated Press]
▶ Cars and Small-but-Strong Energy Stocks in Play   [May-19-17 05:20PM  TheStreet.com]
▶ Tower beats Street 1Q forecasts   [May-02-17 08:17AM  Associated Press]
▶ Tower International Declares Quarterly Dividend   [Apr-21-17 01:00PM  PR Newswire]
▶ Auto supplier planning $50 million in Kentucky plant expansions   [Mar-30-17 01:43PM  at bizjournals.com]
▶ Auto supplier planning $50 million in Kentucky plant expansions   [01:43PM  American City Business Journals]

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