Thrivent Financial for Lutherans boosted its position in Titan International Inc (NYSE:TWI) by 74.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,289 shares of the industrial products company’s stock after buying an additional 25,637 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Titan International were worth $281,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of TWI. Morgan Stanley raised its stake in shares of Titan International by 102.3% in the 3rd quarter. Morgan Stanley now owns 271,079 shares of the industrial products company’s stock valued at $2,011,000 after purchasing an additional 137,098 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Titan International during the third quarter worth approximately $111,000. HHM Wealth Advisors LLC bought a new stake in Titan International during the fourth quarter worth approximately $276,000. Legal & General Group Plc boosted its holdings in Titan International by 8.9% during the third quarter. Legal & General Group Plc now owns 105,333 shares of the industrial products company’s stock worth $785,000 after buying an additional 8,613 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Titan International by 2.9% during the third quarter. Vanguard Group Inc. now owns 4,082,672 shares of the industrial products company’s stock worth $30,293,000 after buying an additional 115,819 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.
TWI stock opened at $6.74 on Wednesday. Titan International Inc has a 12-month low of $4.35 and a 12-month high of $12.90. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.08 and a quick ratio of 1.02. The company has a market capitalization of $393.85 million, a price-to-earnings ratio of 24.96 and a beta of 1.70.
Titan International (NYSE:TWI) last released its earnings results on Thursday, March 7th. The industrial products company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.16). Titan International had a return on equity of 2.49% and a net margin of 0.14%. The company had revenue of $363.10 million during the quarter, compared to analysts’ expectations of $385.08 million. During the same quarter in the previous year, the company earned ($0.10) EPS. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, research analysts expect that Titan International Inc will post 0.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.005 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.02 dividend on an annualized basis and a yield of 0.30%. Titan International’s payout ratio is 7.41%.
Several equities research analysts recently commented on TWI shares. Zacks Investment Research upgraded shares of Titan International from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a research report on Friday, February 8th. Sidoti set a $10.00 price target on shares of Titan International and gave the company a “buy” rating in a research report on Wednesday, February 20th. TheStreet upgraded shares of Titan International from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Finally, ValuEngine upgraded shares of Titan International from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.44.
Titan International Profile
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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