Alberta Investment Management Corp Reduces Stock Holdings in Titan America SA $TTAM

Alberta Investment Management Corp reduced its stake in shares of Titan America SA (NYSE:TTAM) by 33.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 185,000 shares of the company’s stock after selling 95,000 shares during the period. Alberta Investment Management Corp’s holdings in Titan America were worth $2,764,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in Titan America by 152.0% during the third quarter. PNC Financial Services Group Inc. now owns 25,203 shares of the company’s stock worth $377,000 after acquiring an additional 15,203 shares during the period. Rhumbline Advisers boosted its position in Titan America by 3.0% in the 3rd quarter. Rhumbline Advisers now owns 24,073 shares of the company’s stock worth $360,000 after purchasing an additional 691 shares in the last quarter. Keybank National Association OH grew its stake in shares of Titan America by 16.2% during the 3rd quarter. Keybank National Association OH now owns 17,900 shares of the company’s stock worth $267,000 after purchasing an additional 2,500 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Titan America by 0.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,424,738 shares of the company’s stock valued at $35,886,000 after purchasing an additional 18,448 shares in the last quarter. Finally, CWM LLC acquired a new position in shares of Titan America in the 3rd quarter valued at $61,000.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TTAM. Jefferies Financial Group lifted their price objective on shares of Titan America from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 15th. Citigroup lifted their price target on Titan America from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Wall Street Zen upgraded Titan America from a “hold” rating to a “buy” rating in a research report on Saturday, November 29th. Finally, Sanford C. Bernstein boosted their price objective on Titan America from $15.00 to $17.00 and gave the company a “market perform” rating in a research report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Titan America presently has a consensus rating of “Hold” and an average price target of $17.36.

Titan America Stock Performance

Shares of NYSE:TTAM opened at $18.36 on Friday. The business’s 50 day moving average price is $17.48 and its 200-day moving average price is $16.07. Titan America SA has a 1 year low of $10.80 and a 1 year high of $19.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.95 and a quick ratio of 1.87. The firm has a market capitalization of $3.38 billion and a PE ratio of 18.55.

Titan America Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, December 29th. Stockholders of record on Wednesday, December 17th were paid a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. Titan America’s dividend payout ratio (DPR) is currently 16.16%.

About Titan America

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).