Titan International Inc (TWI) Declares Quarterly Dividend of $0.01

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Titan International Inc (NYSE:TWI) announced a quarterly dividend on Thursday, March 14th, Wall Street Journal reports. Investors of record on Friday, March 29th will be paid a dividend of 0.005 per share by the industrial products company on Monday, April 15th. This represents a $0.02 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Thursday, March 28th.

Titan International has a payout ratio of 8.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Titan International to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 2.1%.

Shares of Titan International stock opened at $4.68 on Friday. Titan International has a one year low of $4.35 and a one year high of $13.85. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.02 and a current ratio of 2.08. The stock has a market cap of $278.77 million, a P/E ratio of 17.33 and a beta of 1.71.

Titan International (NYSE:TWI) last announced its earnings results on Thursday, March 7th. The industrial products company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.16). Titan International had a net margin of 0.14% and a return on equity of 2.49%. The business had revenue of $363.10 million for the quarter, compared to the consensus estimate of $385.08 million. During the same quarter in the previous year, the company earned ($0.10) EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts expect that Titan International will post 0.65 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Titan International stock. Geode Capital Management LLC boosted its position in Titan International Inc (NYSE:TWI) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 518,437 shares of the industrial products company’s stock after acquiring an additional 7,654 shares during the period. Geode Capital Management LLC owned 0.87% of Titan International worth $2,415,000 as of its most recent SEC filing. 83.99% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently commented on TWI. Zacks Investment Research lowered Titan International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Sidoti set a $10.00 price target on Titan International and gave the stock a “buy” rating in a report on Wednesday, February 20th. TheStreet upgraded Titan International from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Finally, ValuEngine lowered Titan International from a “sell” rating to a “strong sell” rating in a report on Friday, January 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $11.44.

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About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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Dividend History for Titan International (NYSE:TWI)

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