Titan America SA (NYSE:TTAM – Get Free Report)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $13.76 and last traded at $13.7670, with a volume of 231310 shares. The stock had previously closed at $14.06.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Citigroup increased their target price on Titan America from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Stifel Nicolaus increased their price objective on Titan America from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded Titan America from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 2nd. Finally, Zacks Research raised Titan America from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.30.
View Our Latest Research Report on Titan America
Titan America Trading Down 1.6%
Titan America (NYSE:TTAM – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.06). Titan America had a net margin of 10.35% and a return on equity of 17.03%. The company had revenue of $470.63 million for the quarter. During the same quarter in the prior year, the company posted $0.28 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, analysts expect that Titan America SA will post 1.08 EPS for the current fiscal year.
Titan America Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. Titan America’s dividend payout ratio (DPR) is presently 16.67%.
Institutional Investors Weigh In On Titan America
A number of hedge funds and other institutional investors have recently made changes to their positions in TTAM. Voss Capital LP lifted its stake in shares of Titan America by 51.6% in the 4th quarter. Voss Capital LP now owns 2,600,000 shares of the company’s stock valued at $42,848,000 after purchasing an additional 885,000 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Titan America during the second quarter worth $7,623,000. River Road Asset Management LLC raised its holdings in Titan America by 3.5% during the fourth quarter. River Road Asset Management LLC now owns 3,856,334 shares of the company’s stock valued at $63,552,000 after buying an additional 128,624 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Titan America in the first quarter worth about $1,489,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Titan America in the first quarter worth about $1,452,000.
About Titan America
Titan America is a building materials company that produces and supplies cement, ready-mix concrete, aggregates and other products used in residential, commercial and infrastructure construction. Its portfolio also includes concrete blocks and related construction materials, as well as supplementary cementitious materials that can be used in concrete production.
The company serves customers across the eastern United States through a network of cement plants, terminals, quarries, ready-mix concrete facilities and other distribution assets.
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