Voss Capital LP raised its position in Titan America SA (NYSE:TTAM – Free Report) by 51.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,600,000 shares of the company’s stock after buying an additional 885,000 shares during the period. Titan America accounts for about 2.1% of Voss Capital LP’s investment portfolio, making the stock its 17th biggest position. Voss Capital LP’s holdings in Titan America were worth $42,848,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its position in shares of Titan America by 7.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,417,804 shares of the company’s stock worth $56,325,000 after purchasing an additional 230,943 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Titan America by 633.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the company’s stock worth $36,000 after purchasing an additional 1,874 shares in the last quarter. De Lisle Partners LLP lifted its position in shares of Titan America by 5.5% during the fourth quarter. De Lisle Partners LLP now owns 129,429 shares of the company’s stock worth $2,132,000 after purchasing an additional 6,741 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Titan America by 61.7% during the fourth quarter. Wells Fargo & Company MN now owns 35,945 shares of the company’s stock worth $592,000 after purchasing an additional 13,713 shares in the last quarter. Finally, Venator Management LLC lifted its position in shares of Titan America by 13.9% during the fourth quarter. Venator Management LLC now owns 522,310 shares of the company’s stock worth $8,608,000 after purchasing an additional 63,660 shares in the last quarter.
Insider Buying and Selling
In other news, CFO Lawrence Hugh Jr. Wilt bought 20,000 shares of the stock in a transaction on Thursday, March 19th. The stock was purchased at an average price of $14.93 per share, with a total value of $298,600.00. Following the completion of the purchase, the chief financial officer owned 20,000 shares of the company’s stock, valued at approximately $298,600. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
Titan America Trading Up 0.7%
Titan America (NYSE:TTAM – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Titan America had a net margin of 11.08% and a return on equity of 18.35%. The firm had revenue of $398.42 million during the quarter. During the same period in the previous year, the firm earned $0.19 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that Titan America SA will post 1.09 earnings per share for the current year.
Titan America Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, June 18th. Titan America’s dividend payout ratio is presently 15.84%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. HSBC lowered shares of Titan America from a “buy” rating to a “hold” rating and set a $18.50 target price on the stock. in a research report on Thursday, May 7th. Zacks Research upgraded shares of Titan America from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Citigroup upped their target price on shares of Titan America from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Titan America from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.42.
View Our Latest Report on TTAM
Titan America Profile
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”).
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