Donald Smith & CO. Inc. Buys New Position in Titan International, Inc. $TWI

Donald Smith & CO. Inc. bought a new position in shares of Titan International, Inc. (NYSE:TWI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,309,428 shares of the industrial products company’s stock, valued at approximately $40,936,000. Donald Smith & CO. Inc. owned about 0.08% of Titan International as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Aip LLC bought a new position in shares of Titan International during the second quarter valued at approximately $68,468,485,000. Sei Investments Co. lifted its holdings in shares of Titan International by 99.4% in the 1st quarter. Sei Investments Co. now owns 369,535 shares of the industrial products company’s stock worth $2,553,000 after purchasing an additional 184,176 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Titan International by 10.5% in the 1st quarter. Renaissance Technologies LLC now owns 2,477,119 shares of the industrial products company’s stock worth $17,117,000 after purchasing an additional 235,632 shares during the last quarter. TritonPoint Partners LLC acquired a new position in Titan International during the 4th quarter valued at approximately $1,116,000. Finally, Dimensional Fund Advisors LP boosted its position in Titan International by 6.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,426,873 shares of the industrial products company’s stock valued at $23,678,000 after purchasing an additional 204,589 shares during the period. 80.39% of the stock is currently owned by institutional investors.

Titan International Stock Performance

Shares of TWI stock opened at $7.16 on Friday. Titan International, Inc. has a 12-month low of $6.37 and a 12-month high of $11.70. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.11 and a quick ratio of 1.15. The firm has a market capitalization of $462.11 million, a price-to-earnings ratio of -5.92 and a beta of 1.45. The business has a 50 day simple moving average of $7.40 and a 200 day simple moving average of $8.03.

Titan International (NYSE:TWI) last announced its earnings results on Thursday, July 30th. The industrial products company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.15. The firm had revenue of $484.77 million for the quarter, compared to the consensus estimate of $480.06 million. Titan International had a negative return on equity of 1.56% and a negative net margin of 4.11%. On average, equities research analysts anticipate that Titan International, Inc. will post -0.13 EPS for the current year.

Analysts Set New Price Targets

TWI has been the subject of a number of recent research reports. Wall Street Zen upgraded Titan International from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. DA Davidson restated a “buy” rating and set a $13.00 price target on shares of Titan International in a research report on Friday, June 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Titan International in a report on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.00.

Titan International Company Profile

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.