Pointe Capital Management LLC bought a new stake in Titan International, Inc. (NYSE:TWI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 57,000 shares of the industrial products company’s stock, valued at approximately $685,000.
Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in Titan International by 13.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,713,774 shares of the industrial products company’s stock valued at $38,400,000 after buying an additional 432,707 shares during the period. FMR LLC purchased a new stake in Titan International during the fourth quarter valued at about $3,443,000. Hennessy Advisors Inc. purchased a new stake in Titan International during the first quarter valued at about $3,071,000. Vanguard Group Inc. raised its stake in Titan International by 8.7% in the first quarter. Vanguard Group Inc. now owns 3,058,650 shares of the industrial products company’s stock valued at $31,626,000 after buying an additional 244,283 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its stake in Titan International by 17.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 600,000 shares of the industrial products company’s stock valued at $7,206,000 after buying an additional 90,000 shares during the period. Hedge funds and other institutional investors own 85.35% of the company’s stock.
Titan International, Inc. (NYSE TWI) opened at 10.22 on Thursday. The company has a 50-day moving average of $11.97 and a 200 day moving average of $11.50. The stock’s market cap is $609.69 million. Titan International, Inc. has a 1-year low of $8.52 and a 1-year high of $14.23.
Titan International (NYSE:TWI) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.09 by $0.18. The firm had revenue of $364.40 million for the quarter, compared to analyst estimates of $352.13 million. Titan International had a negative net margin of 3.23% and a negative return on equity of 10.79%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. Analysts predict that Titan International, Inc. will post ($0.26) EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a dividend of $0.005 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.20%. Titan International’s payout ratio is -2.44%.
TWI has been the subject of several analyst reports. Sidoti upgraded shares of Titan International from a “neutral” rating to a “buy” rating in a report on Tuesday, April 18th. Jefferies Group LLC restated an “underperform” rating and issued a $14.00 target price (up previously from $11.50) on shares of Titan International in a report on Friday, April 14th. TheStreet upgraded shares of Titan International from a “d+” rating to a “c-” rating in a report on Friday, June 30th. Zacks Investment Research upgraded shares of Titan International from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Friday, June 30th. Finally, BidaskClub upgraded shares of Titan International from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $14.00.
Titan International Company Profile
Titan International, Inc is a wheel, tire, and undercarriage industrial manufacturer and supplier. The Company’s segments are agricultural, earthmoving/construction, and consumer. The Company produces a range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.
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