Titan America (NYSE:TTAM) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of Titan America (NYSE:TTAM) from a hold rating to a strong sell rating in a research report report published on Wednesday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Citigroup dropped their target price on Titan America from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Wall Street Zen lowered shares of Titan America from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Titan America currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Titan America Price Performance

NYSE:TTAM opened at $16.38 on Wednesday. Titan America has a 52 week low of $12.18 and a 52 week high of $19.42. The company has a quick ratio of 1.91, a current ratio of 3.03 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $3.02 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The stock’s 50-day moving average price is $16.39 and its 200-day moving average price is $16.36.

Titan America (NYSE:TTAM) last posted its earnings results on Saturday, February 14th. The company reported $0.24 EPS for the quarter. Titan America had a return on equity of 19.07% and a net margin of 11.14%.The firm had revenue of $405.66 million for the quarter. As a group, equities analysts expect that Titan America will post 1.15 EPS for the current fiscal year.

Titan America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 20th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, April 20th. This represents a $0.16 dividend on an annualized basis and a yield of 1.0%. Titan America’s dividend payout ratio (DPR) is currently 15.69%.

Insiders Place Their Bets

In related news, CFO Lawrence Hugh Jr. Wilt purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average cost of $14.93 per share, with a total value of $298,600.00. Following the purchase, the chief financial officer owned 20,000 shares of the company’s stock, valued at $298,600. This represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd lifted its stake in Titan America by 2,018.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,271 shares of the company’s stock worth $103,000 after purchasing an additional 5,975 shares in the last quarter. River Road Asset Management LLC lifted its stake in Titan America by 3.5% in the 4th quarter. River Road Asset Management LLC now owns 3,856,334 shares of the company’s stock worth $63,552,000 after purchasing an additional 128,624 shares in the last quarter. Invesco Ltd. lifted its stake in Titan America by 3,319.8% in the 4th quarter. Invesco Ltd. now owns 515,426 shares of the company’s stock worth $8,494,000 after purchasing an additional 500,354 shares in the last quarter. Beartown Capital Management LLC purchased a new position in Titan America in the 4th quarter worth approximately $165,000. Finally, Numerai GP LLC purchased a new position in Titan America in the 4th quarter worth approximately $453,000.

About Titan America

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”).