Titan America (NYSE:TTAM) Stock Gets Price Target Trim from Citigroup

Titan America (NYSE:TTAM) had its price target trimmed by Citigroup from $18.00 to $15.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

TTAM has been the topic of a number of other research reports. Zacks Research downgraded shares of Titan America from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Stifel Nicolaus reduced their price target on shares of Titan America from $19.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, October 28th. Finally, Weiss Ratings downgraded shares of Titan America from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, October 20th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.50.

Titan America Trading Down 2.1%

Shares of TTAM stock opened at $11.44 on Monday. The company has a market cap of $2.11 billion, a P/E ratio of 13.44, a PEG ratio of 2.48 and a beta of 1.06. The stock has a 50 day simple moving average of $13.62 and a two-hundred day simple moving average of $15.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.65 and a current ratio of 1.18. Titan America has a fifty-two week low of $11.15 and a fifty-two week high of $19.57.

Titan America (NYSE:TTAM) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.15). The business had revenue of $461.64 million for the quarter. Titan America had a return on equity of 14.88% and a net margin of 9.19%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. Research analysts forecast that Titan America will post 0.84 earnings per share for the current year.

Titan America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Friday, December 18th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, December 18th. Titan America’s dividend payout ratio (DPR) is 18.39%.

Hedge Funds Weigh In On Titan America

A number of institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in Titan America in the 1st quarter valued at $1,489,000. Squarepoint Ops LLC bought a new stake in Titan America during the 2nd quarter valued at $915,000. Lazard Asset Management LLC bought a new stake in Titan America during the 1st quarter valued at $1,452,000. Principal Financial Group Inc. acquired a new position in Titan America during the first quarter worth $1,167,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Titan America during the second quarter worth $7,623,000.

About Titan America

Titan America, Inc. is a vertically integrated building materials company that produces and supplies materials used in residential, commercial and infrastructure construction. Its products include cement, aggregates, ready-mixed concrete and other construction materials. The company serves customers across parts of the Mid-Atlantic and southeastern United States through a network of production facilities and distribution operations. Its businesses include Roanoke Cement and Titan Florida, which supply cement and related materials to regional markets.