Essex Investment Management Co. LLC trimmed its holdings in Titan International Inc (NYSE:TWI) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,309 shares of the industrial products company’s stock after selling 12,404 shares during the period. Essex Investment Management Co. LLC owned about 0.25% of Titan International worth $1,936,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Fishman Jay A Ltd. MI raised its position in shares of Titan International by 2.5% in the 3rd quarter. Fishman Jay A Ltd. MI now owns 2,903,062 shares of the industrial products company’s stock valued at $29,466,000 after purchasing an additional 70,030 shares in the last quarter. Pekin Singer Strauss Asset Management IL raised its position in shares of Titan International by 3.1% during the 3rd quarter. Pekin Singer Strauss Asset Management IL now owns 618,129 shares of the industrial products company’s stock valued at $6,274,000 after acquiring an additional 18,387 shares in the last quarter. Swiss National Bank raised its position in shares of Titan International by 14.4% during the 3rd quarter. Swiss National Bank now owns 84,800 shares of the industrial products company’s stock valued at $861,000 after acquiring an additional 10,700 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Titan International by 9.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,349,303 shares of the industrial products company’s stock valued at $40,224,000 after acquiring an additional 290,653 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Titan International by 12.1% during the 2nd quarter. Northern Trust Corp now owns 598,854 shares of the industrial products company’s stock valued at $7,192,000 after acquiring an additional 64,491 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on TWI shares. ValuEngine raised Titan International from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Jefferies Group reissued a “hold” rating and set a $12.00 price target on shares of Titan International in a research report on Sunday, November 5th. TheStreet raised Titan International from a “d+” rating to a “c-” rating in a research report on Monday, November 6th. Finally, Zacks Investment Research raised Titan International from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.00.
Shares of Titan International Inc (NYSE TWI) traded up $0.18 on Wednesday, reaching $11.77. The company had a trading volume of 110,462 shares, compared to its average volume of 261,562. The company has a market cap of $692.08, a P/E ratio of -14.10 and a beta of 1.73. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.28 and a current ratio of 2.22. Titan International Inc has a 52-week low of $7.97 and a 52-week high of $14.31.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a dividend of $0.005 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.02 dividend on an annualized basis and a yield of 0.17%. Titan International’s payout ratio is currently -2.41%.
In related news, CEO Paul G. Reitz sold 22,000 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $10.82, for a total transaction of $238,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James M. Froisland acquired 5,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were bought at an average price of $11.65 per share, with a total value of $58,250.00. Following the completion of the purchase, the chief financial officer now owns 5,000 shares in the company, valued at $58,250. The disclosure for this purchase can be found here. 17.80% of the stock is owned by corporate insiders.
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Titan International Company Profile
Titan International, Inc is a wheel, tire, and undercarriage industrial manufacturer and supplier. The Company’s segments are agricultural, earthmoving/construction, and consumer. The Company produces a range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.
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