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

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.

Titan International (NYSE:TWI) last posted its quarterly earnings data on Friday, February 23rd. The industrial products company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The company had revenue of $376.03 million during the quarter, compared to analysts’ expectations of $364.77 million. Titan International had a negative net margin of 4.31% and a negative return on equity of 6.94%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.25) EPS. sell-side analysts expect that Titan International will post 0.35 earnings per share for the current fiscal year.

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.

Dividend History for Titan International (NYSE:TWI)

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