Charles Schwab Investment Management Inc. Has $6.57 Million Stock Holdings in Titan Machinery Inc. (NASDAQ:TITN)


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Charles Schwab Investment Management Inc. boosted its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 6.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 336,204 shares of the company’s stock after purchasing an additional 18,958 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Titan Machinery were worth $6,573,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. New York State Teachers Retirement System bought a new position in shares of Titan Machinery in the fourth quarter valued at approximately $31,000. Citigroup Inc. increased its stake in shares of Titan Machinery by 297.6% in the fourth quarter. Citigroup Inc. now owns 3,638 shares of the company’s stock valued at $71,000 after buying an additional 2,723 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Titan Machinery during the 4th quarter worth about $313,000. State of Wisconsin Investment Board grew its holdings in Titan Machinery by 22.9% during the 4th quarter. State of Wisconsin Investment Board now owns 17,200 shares of the company’s stock worth $336,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in Titan Machinery in the 4th quarter valued at about $345,000. Hedge funds and other institutional investors own 73.26% of the company’s stock.

In related news, CEO David Joseph Meyer sold 23,777 shares of the firm’s stock in a transaction on Wednesday, April 14th. The shares were sold at an average price of $26.49, for a total transaction of $629,852.73. Following the sale, the chief executive officer now directly owns 376,364 shares in the company, valued at $9,969,882.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 15.37% of the company’s stock.

Several research analysts recently weighed in on the stock. TheStreet upgraded shares of Titan Machinery from a “c+” rating to a “b-” rating in a research report on Friday, January 22nd. Zacks Investment Research upgraded Titan Machinery from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Wednesday, March 24th. Finally, Robert W. Baird restated a “buy” rating on shares of Titan Machinery in a research report on Sunday, March 21st. Four research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $26.00.

Shares of TITN opened at $26.35 on Friday. The stock has a market cap of $594.27 million, a P/E ratio of 31.00 and a beta of 1.92. Titan Machinery Inc. has a 1 year low of $7.91 and a 1 year high of $30.00. The stock’s 50-day moving average price is $26.11 and its two-hundred day moving average price is $20.81. The company has a current ratio of 1.72, a quick ratio of 0.33 and a debt-to-equity ratio of 0.15.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Wednesday, March 17th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.10. The business had revenue of $436.70 million for the quarter, compared to the consensus estimate of $369.60 million. Titan Machinery had a net margin of 1.45% and a return on equity of 6.64%. Titan Machinery’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. As a group, equities analysts forecast that Titan Machinery Inc. will post 1.15 EPS for the current year.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores in the United States and Europe. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.

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Institutional Ownership by Quarter for Titan Machinery (NASDAQ:TITN)

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