Titan America (NYSE:TTAM) Downgraded to “Hold” Rating by HSBC

HSBC lowered shares of Titan America (NYSE:TTAM) from a buy rating to a hold rating in a report published on Thursday, Marketbeat.com reports. The firm currently has $18.50 price objective on the stock.

Other research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Titan America from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Wall Street Zen downgraded shares of Titan America from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Citigroup decreased their price objective on shares of Titan America from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Titan America presently has a consensus rating of “Hold” and an average price target of $17.25.

Titan America Price Performance

Shares of Titan America stock traded up $0.09 during trading on Thursday, reaching $16.84. 106,949 shares of the stock traded hands, compared to its average volume of 327,324. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.28 and a beta of 1.24. The business has a fifty day simple moving average of $16.05 and a two-hundred day simple moving average of $16.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.99 and a quick ratio of 1.91. Titan America has a 52-week low of $12.18 and a 52-week high of $19.42.

Titan America (NYSE:TTAM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $398.42 million for the quarter. Titan America had a net margin of 11.08% and a return on equity of 18.35%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm posted $0.19 EPS. Sell-side analysts expect that Titan America will post 1.09 EPS for the current year.

Titan America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, June 18th. Titan America’s payout ratio is currently 15.84%.

Insider Transactions at Titan America

In other Titan America news, CFO Lawrence Hugh Jr. Wilt acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average cost of $14.93 per share, with a total value of $298,600.00. Following the completion of the acquisition, the chief financial officer directly owned 20,000 shares in the company, valued at $298,600. This represents a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Titan America

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in Titan America during the second quarter valued at approximately $28,000. Kemnay Advisory Services Inc. purchased a new position in Titan America in the fourth quarter worth $30,000. Caitong International Asset Management Co. Ltd grew its holdings in Titan America by 633.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the company’s stock worth $36,000 after purchasing an additional 1,874 shares during the last quarter. CWM LLC purchased a new position in Titan America in the third quarter worth $61,000. Finally, New York State Common Retirement Fund purchased a new position in Titan America in the second quarter worth $96,000.

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”).