Titan International (NYSE:TWI) posted its quarterly earnings results on Friday. The industrial products company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03, MarketWatch Earnings reports. Titan International had a negative net margin of 1.47% and a positive return on equity of 3.38%. The firm had revenue of $384.70 million during the quarter, compared to the consensus estimate of $398.71 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The company’s revenue was up 3.7% on a year-over-year basis.
Shares of NYSE:TWI opened at $7.27 on Friday. The company has a market capitalization of $422.88 million, a P/E ratio of -14.84 and a beta of 1.46. Titan International has a 52 week low of $6.18 and a 52 week high of $14.53. The company has a quick ratio of 1.14, a current ratio of 2.05 and a debt-to-equity ratio of 1.37.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Thursday, September 27th. Titan International’s dividend payout ratio (DPR) is -4.08%.
In other Titan International news, Director Maurice M. Taylor, Jr. acquired 100,000 shares of Titan International stock in a transaction that occurred on Tuesday, August 7th. The stock was bought at an average price of $7.20 per share, with a total value of $720,000.00. Following the completion of the purchase, the director now directly owns 549,870 shares of the company’s stock, valued at approximately $3,959,064. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David A. Martin acquired 20,000 shares of Titan International stock in a transaction that occurred on Wednesday, August 8th. The stock was acquired at an average cost of $7.21 per share, with a total value of $144,200.00. The disclosure for this purchase can be found here. Insiders own 17.30% of the company’s stock.
Large investors have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Titan International during the second quarter worth $113,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Titan International during the first quarter worth $141,000. Paloma Partners Management Co acquired a new position in shares of Titan International during the second quarter worth $149,000. SG Americas Securities LLC acquired a new position in shares of Titan International during the second quarter worth $189,000. Finally, New Jersey Better Educational Savings Trust increased its position in shares of Titan International by 36.4% during the third quarter. New Jersey Better Educational Savings Trust now owns 30,000 shares of the industrial products company’s stock worth $223,000 after purchasing an additional 8,000 shares in the last quarter. 86.70% of the stock is owned by institutional investors.
Several analysts have recently weighed in on the stock. ValuEngine downgraded shares of Titan International from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 24th. TheStreet downgraded shares of Titan International from a “c” rating to a “d+” rating in a research note on Thursday, August 23rd. Zacks Investment Research downgraded shares of Titan International from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 9th. William Blair downgraded shares of Titan International from an “outperform” rating to a “market perform” rating and set a $21.00 price objective for the company. in a research note on Friday, August 3rd. Finally, Jefferies Financial Group reduced their price objective on shares of Titan International from $12.00 to $8.50 and set a “hold” rating for the company in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $14.50.
Titan International Company Profile
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally. It operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
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