Titan America (NYSE:TTAM) Announces Earnings Results

Titan America (NYSE:TTAM) issued its quarterly earnings results on Tuesday. The company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24, FiscalAI reports. The firm had revenue of $405.66 million during the quarter. Titan America had a return on equity of 19.80% and a net margin of 10.83%.The company’s quarterly revenue was up 4.1% on a year-over-year basis.

Titan America Trading Up 2.4%

TTAM opened at $16.05 on Wednesday. The business has a 50 day simple moving average of $17.58 and a two-hundred day simple moving average of $16.32. Titan America has a one year low of $10.80 and a one year high of $19.42. The firm has a market capitalization of $2.96 billion and a price-to-earnings ratio of 16.21. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.95 and a quick ratio of 1.87.

Titan America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Monday, April 20th will be given a $0.04 dividend. The ex-dividend date is Monday, April 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.0%. Titan America’s payout ratio is presently 16.16%.

Analysts Set New Price Targets

Several analysts have recently commented on TTAM shares. Wall Street Zen upgraded Titan America from a “hold” rating to a “buy” rating in a research note on Saturday, November 29th. Jefferies Financial Group raised their price target on shares of Titan America from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Citigroup lifted their price target on Titan America from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Finally, Sanford C. Bernstein increased their target price on shares of Titan America from $15.00 to $17.00 and gave the company a “market perform” rating in a research report on Friday, December 19th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.08.

Hedge Funds Weigh In On Titan America

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in Titan America by 3.0% in the 3rd quarter. Rhumbline Advisers now owns 24,073 shares of the company’s stock worth $360,000 after buying an additional 691 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Titan America by 3.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 26,026 shares of the company’s stock worth $429,000 after acquiring an additional 823 shares in the last quarter. Intech Investment Management LLC lifted its position in Titan America by 7.1% during the third quarter. Intech Investment Management LLC now owns 13,622 shares of the company’s stock valued at $204,000 after purchasing an additional 898 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Titan America by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,733 shares of the company’s stock worth $243,000 after acquiring an additional 1,786 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Titan America in the 4th quarter worth approximately $30,000.

Titan America Company Profile

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).