Insider Selling: Titan International (NYSE:TWI) Major Shareholder Sells 3,041,288 Shares of Stock

Titan International, Inc. (NYSE:TWI) major shareholder Aipct Holdings Llc sold 3,041,288 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $8.95, for a total transaction of $27,219,527.60. Following the sale, the insider directly owned 8,880,478 shares in the company, valued at approximately $79,480,278.10. This represents a 25.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Titan International Trading Down 2.4%

Shares of NYSE:TWI traded down $0.21 during mid-day trading on Friday, reaching $8.68. The stock had a trading volume of 986,531 shares, compared to its average volume of 594,684. Titan International, Inc. has a twelve month low of $5.93 and a twelve month high of $11.70. The firm has a market cap of $555.69 million, a PE ratio of -8.68 and a beta of 1.47. The company has a current ratio of 2.30, a quick ratio of 1.20 and a debt-to-equity ratio of 1.08. The firm has a 50 day simple moving average of $9.51 and a two-hundred day simple moving average of $8.56.

Titan International (NYSE:TWI) last announced its earnings results on Thursday, February 26th. The industrial products company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). Titan International had a negative net margin of 3.47% and a negative return on equity of 2.82%. The firm had revenue of $410.44 million during the quarter, compared to analyst estimates of $396.86 million. On average, research analysts predict that Titan International, Inc. will post 0.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Titan International in a report on Monday, December 29th. DA Davidson set a $13.00 target price on shares of Titan International in a research note on Tuesday. Finally, Wall Street Zen raised Titan International from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Titan International presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Institutional Investors Weigh In On Titan International

Several institutional investors and hedge funds have recently bought and sold shares of the business. Villanova Investment Management Co LLC grew its position in shares of Titan International by 8.7% during the fourth quarter. Villanova Investment Management Co LLC now owns 231,697 shares of the industrial products company’s stock valued at $1,814,000 after purchasing an additional 18,532 shares in the last quarter. Invesco Ltd. raised its stake in Titan International by 85.1% in the fourth quarter. Invesco Ltd. now owns 1,579,219 shares of the industrial products company’s stock valued at $12,365,000 after buying an additional 725,926 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Titan International by 4.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 58,657 shares of the industrial products company’s stock valued at $459,000 after purchasing an additional 2,573 shares during the last quarter. Empowered Funds LLC grew its position in Titan International by 2.7% during the 4th quarter. Empowered Funds LLC now owns 605,173 shares of the industrial products company’s stock worth $4,739,000 after purchasing an additional 15,971 shares during the period. Finally, XTX Topco Ltd purchased a new position in Titan International in the fourth quarter valued at $209,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

About Titan International

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan’s product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel?and?tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.