California Public Employees Retirement System boosted its position in shares of Titan International Inc. (NYSE:TWI) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 445,200 shares of the company’s stock after buying an additional 17,000 shares during the period. California Public Employees Retirement System owned approximately 0.82% of Titan International worth $2,760,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wall Street Access Asset Management LLC raised its stake in Titan International by 5.0% in the second quarter. Wall Street Access Asset Management LLC now owns 41,480 shares of the company’s stock valued at $257,000 after buying an additional 1,985 shares during the period. Pekin Singer Strauss Asset Management IL raised its stake in Titan International by 5.4% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 1,533,905 shares of the company’s stock valued at $9,510,000 after buying an additional 79,201 shares during the period. New Jersey Better Educational Savings Trust bought a new stake in Titan International during the second quarter valued at approximately $403,000. State of New Jersey Common Pension Fund D bought a new stake in Titan International during the second quarter valued at approximately $3,844,000. Finally, California State Teachers Retirement System raised its stake in Titan International by 0.5% in the second quarter. California State Teachers Retirement System now owns 92,809 shares of the company’s stock valued at $575,000 after buying an additional 473 shares during the period. 77.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of Titan International Inc. (NYSE:TWI) traded up 5.761% during mid-day trading on Thursday, reaching $10.005. The company’s stock had a trading volume of 735,930 shares. Titan International Inc. has a 1-year low of $2.50 and a 1-year high of $10.05. The company’s 50 day moving average price is $9.19 and its 200-day moving average price is $7.03. The company’s market capitalization is $540.73 million.
Titan International (NYSE:TWI) last posted its earnings results on Thursday, August 4th. The company reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). Titan International had a negative return on equity of 17.71% and a negative net margin of 8.44%. The business earned $330.20 million during the quarter, compared to the consensus estimate of $330.92 million. During the same period in the previous year, the business earned $0.02 EPS. The business’s quarterly revenue was down 12.2% on a year-over-year basis. Analysts predict that Titan International Inc. will post ($0.48) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.005 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.21%. The ex-dividend date is Wednesday, September 28th. Titan International’s payout ratio is currently -0.91%.
Several analysts recently commented on the company. Jefferies Group raised their target price on Titan International from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Zacks Investment Research raised Titan International from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $8.68.
About Titan International
Titan International, Inc is a manufacturer of wheels, tires and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates through three segments: agricultural, earthmoving/construction and consumer. The Company’s agricultural market includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment.
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