Equities research analysts forecast that Titan International Inc (NYSE:TWI) will post $350.80 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Titan International’s earnings, with estimates ranging from $334.60 million to $367.00 million. Titan International reported sales of $307.29 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14.2%. The firm is expected to report its next quarterly earnings report before the market opens on Friday, February 23rd.
According to Zacks, analysts expect that Titan International will report full-year sales of $350.80 million for the current financial year, with estimates ranging from $1.43 billion to $1.46 billion. For the next financial year, analysts expect that the company will report sales of $0.00 per share. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Titan International.
Several brokerages have recently issued reports on TWI. Zacks Investment Research upgraded Titan International from a “sell” rating to a “hold” rating in a research report on Friday. TheStreet upgraded Titan International from a “d+” rating to a “c-” rating in a research report on Monday, November 6th. Jefferies Group reiterated a “hold” rating and set a $12.00 price target on shares of Titan International in a research report on Sunday, November 5th. Finally, ValuEngine upgraded Titan International from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $12.00.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend was Thursday, December 28th. Titan International’s dividend payout ratio (DPR) is presently -2.41%.
In other news, CFO James M. Froisland purchased 5,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were bought at an average cost of $11.65 per share, for a total transaction of $58,250.00. Following the transaction, the chief financial officer now owns 5,000 shares in the company, valued at $58,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul G. Reitz sold 22,000 shares of Titan International stock in a transaction on Friday, November 17th. The shares were sold at an average price of $10.82, for a total value of $238,040.00. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Titan International by 3.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,075,326 shares of the industrial products company’s stock worth $41,364,000 after acquiring an additional 152,773 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Titan International by 9.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,349,303 shares of the industrial products company’s stock worth $40,224,000 after acquiring an additional 290,653 shares during the last quarter. Fishman Jay A Ltd. MI grew its holdings in shares of Titan International by 0.7% in the 4th quarter. Fishman Jay A Ltd. MI now owns 2,924,162 shares of the industrial products company’s stock worth $37,663,000 after acquiring an additional 21,100 shares during the last quarter. State Street Corp grew its holdings in shares of Titan International by 3.7% in the 2nd quarter. State Street Corp now owns 1,058,638 shares of the industrial products company’s stock worth $12,714,000 after acquiring an additional 37,423 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Titan International by 2.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 726,234 shares of the industrial products company’s stock worth $7,373,000 after acquiring an additional 19,670 shares during the last quarter. Institutional investors and hedge funds own 86.80% of the company’s stock.
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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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