California Public Employees Retirement System lessened its stake in Titan International Inc (NYSE:TWI) by 13.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,719 shares of the industrial products company’s stock after selling 28,281 shares during the quarter. California Public Employees Retirement System owned approximately 0.29% of Titan International worth $1,885,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Titan International in the second quarter valued at approximately $113,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Titan International in the first quarter valued at approximately $141,000. Paloma Partners Management Co bought a new position in shares of Titan International in the second quarter valued at approximately $149,000. SG Americas Securities LLC bought a new position in shares of Titan International in the second quarter valued at approximately $189,000. Finally, New Jersey Better Educational Savings Trust lifted its holdings in shares of Titan International by 37.5% in the second quarter. New Jersey Better Educational Savings Trust now owns 22,000 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors own 86.70% of the company’s stock.
Shares of TWI opened at $7.06 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.05 and a quick ratio of 1.14. The company has a market cap of $389.93 million, a P/E ratio of -14.41 and a beta of 1.52. Titan International Inc has a 12 month low of $6.18 and a 12 month high of $14.53.
Titan International (NYSE:TWI) last issued its quarterly earnings results on Friday, August 3rd. The industrial products company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.16). The business had revenue of $428.90 million for the quarter, compared to analysts’ expectations of $427.32 million. Titan International had a negative net margin of 1.47% and a positive return on equity of 3.38%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.17) earnings per share. On average, equities research analysts predict that Titan International Inc will post 0.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Thursday, September 27th. Titan International’s payout ratio is -4.08%.
TWI has been the topic of a number of recent research reports. Zacks Investment Research upgraded Titan International from a “strong sell” rating to a “hold” rating in a report on Friday, October 12th. ValuEngine upgraded Titan International from a “strong sell” rating to a “sell” rating in a report on Friday, August 24th. Jefferies Financial Group decreased their price target on Titan International from $12.00 to $8.50 and set a “hold” rating for the company in a research report on Tuesday, August 7th. TheStreet downgraded Titan International from a “c” rating to a “d+” rating in a research report on Thursday, August 23rd. Finally, William Blair downgraded Titan International from an “outperform” rating to a “market perform” rating and set a $21.00 price target for the company. in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Titan International currently has a consensus rating of “Hold” and an average price target of $14.50.
In other Titan International news, CFO David A. Martin purchased 20,000 shares of the firm’s 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maurice M. Taylor, Jr. purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were acquired at an average cost of $7.20 per share, with a total value of $720,000.00. Following the completion of the transaction, the director now directly owns 549,870 shares of the company’s stock, valued at approximately $3,959,064. The disclosure for this purchase can be found here. Company insiders own 17.30% of the company’s stock.
Titan International Company Profile
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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