Titan International, Inc. (TWI) Plans Quarterly Dividend of $0.01

Titan International, Inc. (NYSE:TWI) declared a quarterly dividend on Monday, December 11th, Wall Street Journal reports. Investors of record on Friday, December 29th will be given a dividend of 0.005 per share by the industrial products company on Tuesday, January 16th. This represents a $0.02 annualized dividend and a yield of 0.17%. The ex-dividend date is Thursday, December 28th.

Titan International has a dividend payout ratio of -3.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Titan International to earn $0.28 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 7.1%.

Titan International (NYSE TWI) traded up $0.02 on Monday, reaching $11.73. 166,900 shares of the company traded hands, compared to its average volume of 378,918. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.22 and a quick ratio of 1.28. Titan International has a one year low of $7.97 and a one year high of $14.23.

Titan International (NYSE:TWI) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. The company had revenue of $370.99 million during the quarter, compared to analyst estimates of $331.30 million. Titan International had a negative net margin of 3.19% and a negative return on equity of 9.22%. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.15) earnings per share. analysts predict that Titan International will post -0.62 earnings per share for the current year.

TWI has been the topic of several recent research reports. TheStreet raised shares of Titan International from a “d+” rating to a “c-” rating in a report on Monday, November 6th. Zacks Investment Research raised shares of Titan International from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Jefferies Group reaffirmed a “hold” rating and set a $12.00 price objective on shares of Titan International in a report on Sunday, November 5th. Finally, ValuEngine raised shares of Titan International from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $13.50.

In other Titan International news, CEO Paul G. Reitz sold 22,000 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $10.82, for a total transaction of $238,040.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 17.80% of the stock is owned by corporate insiders.

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About Titan International

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.

Dividend History for Titan International (NYSE:TWI)

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