Rhumbline Advisers boosted its holdings in shares of Titan International Inc (NYSE:TWI) by 16.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,134 shares of the industrial products company’s stock after buying an additional 16,290 shares during the period. Rhumbline Advisers owned approximately 0.20% of Titan International worth $1,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in TWI. Oppenheimer & Co. Inc. acquired a new position in Titan International during the 4th quarter valued at about $135,000. Crossmark Global Holdings Inc. acquired a new position in Titan International during the 4th quarter valued at about $216,000. Teacher Retirement System of Texas acquired a new position in Titan International during the 4th quarter valued at about $223,000. BNP Paribas Arbitrage SA grew its stake in Titan International by 40.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 27,304 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 7,862 shares during the last quarter. Finally, Monarch Partners Asset Management LLC purchased a new stake in Titan International during the 4th quarter valued at about $365,000. 86.74% of the stock is currently owned by institutional investors.
Shares of Titan International Inc (TWI) opened at $12.61 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.19 and a current ratio of 2.10. The firm has a market capitalization of $754.22, a PE ratio of -11.26 and a beta of 1.69. Titan International Inc has a one year low of $7.97 and a one year high of $14.53.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.005 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.02 annualized dividend and a yield of 0.16%. Titan International’s payout ratio is presently -1.79%.
Several research firms have weighed in on TWI. Zacks Investment Research downgraded Titan International from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. William Blair reiterated an “outperform” rating on shares of Titan International in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Titan International presently has an average rating of “Buy” and a consensus price target of $14.00.
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Titan International 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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