BlackRock Inc. lifted its stake in Titan International Inc (NYSE:TWI) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,657,382 shares of the industrial products company’s stock after acquiring an additional 389,478 shares during the period. BlackRock Inc. owned approximately 12.78% of Titan International worth $56,817,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Titan International during the 2nd quarter worth $189,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of Titan International by 4.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 562,312 shares of the industrial products company’s stock valued at $6,034,000 after acquiring an additional 22,236 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Titan International by 9.0% in the second quarter. Renaissance Technologies LLC now owns 2,867,100 shares of the industrial products company’s stock valued at $30,764,000 after acquiring an additional 236,800 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Titan International by 20.2% in the second quarter. OppenheimerFunds Inc. now owns 97,745 shares of the industrial products company’s stock valued at $1,049,000 after acquiring an additional 16,459 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in shares of Titan International in the second quarter valued at about $254,000. Institutional investors and hedge funds own 83.70% of the company’s stock.
Shares of NYSE:TWI opened at $6.04 on Friday. The stock has a market capitalization of $352.91 million, a PE ratio of -12.33 and a beta of 1.60. The company has a current ratio of 2.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.42. Titan International Inc has a fifty-two week low of $4.49 and a fifty-two week high of $14.53.
Titan International (NYSE:TWI) last announced its quarterly earnings data on Friday, November 2nd. The industrial products company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. Titan International had a negative net margin of 1.06% and a positive return on equity of 4.56%. The firm had revenue of $384.70 million during the quarter, compared to analysts’ expectations of $398.71 million. During the same quarter last year, the business earned ($0.09) earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts predict that Titan International Inc will post 0.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be paid a $0.005 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Friday, December 28th. Titan International’s dividend payout ratio (DPR) is -4.08%.
Several brokerages have recently weighed in on TWI. ValuEngine raised shares of Titan International from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 17th. Zacks Investment Research raised shares of Titan International from a “strong sell” rating to a “hold” rating in a report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the stock. Titan International presently has a consensus rating of “Hold” and an average target price of $12.75.
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Titan International Profile
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally. It operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
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