Titan America (NYSE:TTAM) Reaches New 52-Week High – Still a Buy?

Titan America SA (NYSE:TTAM)’s share price hit a new 52-week high on Friday . The stock traded as high as $18.16 and last traded at $17.7850, with a volume of 63771 shares. The stock had previously closed at $17.06.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TTAM shares. Citigroup lifted their target price on shares of Titan America from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Wall Street Zen upgraded Titan America from a “hold” rating to a “buy” rating in a report on Saturday, November 29th. Jefferies Financial Group lifted their price target on shares of Titan America from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Finally, Sanford C. Bernstein raised their price objective on Titan America from $15.00 to $17.00 and gave the company a “market perform” rating in a report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.36.

Titan America Trading Up 3.4%

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.87 and a current ratio of 2.95. The firm has a market cap of $3.25 billion and a price-to-earnings ratio of 17.82. The business has a fifty day simple moving average of $16.47 and a 200-day simple moving average of $15.49.

Titan America (NYSE:TTAM) last posted its earnings results on Wednesday, November 5th. The company reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $436.85 million for the quarter, compared to the consensus estimate of $439.30 million. Titan America had a net margin of 10.83% and a return on equity of 19.80%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis.

Titan America Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, December 29th. Stockholders of record on Wednesday, December 17th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, December 17th. Titan America’s dividend payout ratio (DPR) is 16.16%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Delphi Management Inc. MA boosted its stake in shares of Titan America by 31.0% in the 4th quarter. Delphi Management Inc. MA now owns 27,615 shares of the company’s stock valued at $455,000 after purchasing an additional 6,540 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Titan America during the 4th quarter valued at $104,000. Voss Capital LP boosted its stake in Titan America by 13.3% during the third quarter. Voss Capital LP now owns 1,715,000 shares of the company’s stock worth $25,622,000 after acquiring an additional 201,577 shares in the last quarter. Venator Management LLC raised its holdings in shares of Titan America by 52.6% during the third quarter. Venator Management LLC now owns 458,650 shares of the company’s stock valued at $6,852,000 after purchasing an additional 158,050 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Titan America in the 3rd quarter valued at about $180,000.

About Titan America

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).