Titan International (TWI) Shares Down 5.8%

Titan International Inc (NYSE:TWI) shares traded down 5.8% during mid-day trading on Friday . The company traded as low as $7.21 and last traded at $7.27. 591,400 shares traded hands during mid-day trading, an increase of 85% from the average session volume of 319,145 shares. The stock had previously closed at $7.72.

A number of research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Titan International from a “strong sell” rating to a “sell” rating in a research note on Friday, August 24th. Jefferies Financial Group cut their target price 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. William Blair cut shares of Titan International from an “outperform” rating to a “market perform” rating and set a $21.00 target price for the company. in a research note on Friday, August 3rd. Zacks Investment Research cut shares of Titan International from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 9th. Finally, TheStreet cut shares of Titan International from a “c” rating to a “d+” rating in a research note on Thursday, August 23rd. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Titan International has a consensus rating of “Hold” and an average price target of $14.50.

The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.14 and a current ratio of 2.05. The company has a market cap of $435.46 million, a PE ratio of -14.84 and a beta of 1.46.

Titan International (NYSE:TWI) last posted its earnings results on Friday, November 2nd. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. Titan International had a negative net margin of 1.47% and a positive return on equity of 3.38%. The company had revenue of $384.70 million during the quarter, compared to analysts’ expectations of $398.71 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Titan International’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Titan International Inc will post 0.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Thursday, September 27th. Titan International’s dividend payout ratio (DPR) is currently -4.08%.

In related news, Director Maurice M. Taylor, Jr. purchased 100,000 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was acquired at an average price of $7.20 per share, with a total value of $720,000.00. Following the completion of the acquisition, the director now directly owns 549,870 shares in the company, valued at approximately $3,959,064. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David A. Martin purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was bought 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. Company insiders own 17.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Titan International by 11.6% in the second quarter. BlackRock Inc. now owns 7,267,904 shares of the industrial products company’s stock valued at $77,985,000 after purchasing an additional 754,114 shares in the last quarter. Fishman Jay A Ltd. MI increased its holdings in shares of Titan International by 3.2% in the third quarter. Fishman Jay A Ltd. MI now owns 2,876,772 shares of the industrial products company’s stock valued at $21,346,000 after purchasing an additional 89,455 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Titan International by 9.0% in the second quarter. Renaissance Technologies LLC now owns 2,867,100 shares of the industrial products company’s stock valued at $30,764,000 after purchasing an additional 236,800 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of Titan International by 12.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 900,000 shares of the industrial products company’s stock valued at $6,678,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Pekin Singer Strauss Asset Management IL increased its holdings in shares of Titan International by 33.6% in the third quarter. Pekin Singer Strauss Asset Management IL now owns 793,902 shares of the industrial products company’s stock valued at $5,891,000 after purchasing an additional 199,602 shares in the last quarter. 86.70% of the stock is owned by institutional investors and hedge funds.

Titan International Company Profile (NYSE:TWI)

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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