Titan International Inc (NYSE:TWI) declared a quarterly dividend on Wednesday, March 14th, Wall Street Journal reports. Shareholders of record on Thursday, March 29th will be given a dividend of 0.005 per share by the industrial products company on Monday, April 16th. This represents a $0.02 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Wednesday, March 28th.
Titan International has a dividend payout ratio of -3.2% indicating that 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 $0.68 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 2.9%.
Titan International (NYSE TWI) traded down $0.02 during trading hours on Wednesday, reaching $13.39. 229,750 shares of the company’s stock were exchanged, compared to its average volume of 275,215. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.10 and a quick ratio of 1.19. Titan International has a one year low of $7.97 and a one year high of $14.53.
In related news, CFO James M. Froisland bought 5,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were acquired at an average price of $11.65 per share, for a total transaction of $58,250.00. Following the purchase, the chief financial officer now owns 5,000 shares in the company, valued at approximately $58,250. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 17.80% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Titan International from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, February 28th. William Blair restated an “outperform” rating on shares of Titan International in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $14.00.
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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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