State Board of Administration of Florida Retirement System continued to hold its stake in shares of Titan International Inc. (NYSE:TWI) during the second quarter, Holdings Channel reports. The firm owned 45,567 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.08% of Titan International worth $283,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Hartford Investment Management Co. acquired a new stake in shares of Titan International during the second quarter worth about $105,000. Mount Vernon Associates Inc. MD boosted its stake in shares of Titan International by 2.3% in the second quarter. Mount Vernon Associates Inc. MD now owns 18,100 shares of the company’s stock worth $112,000 after buying an additional 400 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Titan International during the first quarter worth about $181,000. Capstone Asset Management Co. boosted its stake in shares of Titan International by 1.3% in the second quarter. Capstone Asset Management Co. now owns 34,041 shares of the company’s stock worth $211,000 after buying an additional 430 shares during the last quarter. Finally, Teton Advisors Inc. boosted its stake in shares of Titan International by 6.1% in the second quarter. Teton Advisors Inc. now owns 35,000 shares of the company’s stock worth $217,000 after buying an additional 2,000 shares during the last quarter. 77.10% of the stock is currently owned by institutional investors and hedge funds.
Titan International Inc. (NYSE:TWI) traded up 0.10% on Friday, hitting $10.43. 504,092 shares of the stock were exchanged. The firm’s market cap is $563.70 million. The company has a 50-day moving average of $9.50 and a 200 day moving average of $7.40. Titan International Inc. has a 12 month low of $2.50 and a 12 month high of $10.91.
Titan International (NYSE:TWI) last issued its earnings results on Thursday, August 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). Titan International had a negative net margin of 8.44% and a negative return on equity of 17.71%. The company had revenue of $330.20 million for the quarter, compared to analysts’ expectations of $330.92 million. During the same quarter last year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was down 12.2% on a year-over-year basis. Equities research analysts expect that Titan International Inc. will post ($0.48) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were issued a $0.005 dividend. This represents a $0.02 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend was Wednesday, September 28th. Titan International’s dividend payout ratio is currently -0.91%.
TWI has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Titan International from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Thursday, October 6th. Jefferies Group boosted their price target on shares of Titan International from $8.00 to $11.50 and gave the company a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $10.13.
Titan International Company Profile
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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