Allspring Global Investments Holdings LLC Sells 66,703 Shares of Titan America SA $TTAM

Allspring Global Investments Holdings LLC trimmed its position in shares of Titan America SA (NYSE:TTAM) by 2.8% during the first quarter, Holdings Channel.com reports. The fund owned 2,306,080 shares of the company’s stock after selling 66,703 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Titan America were worth $35,214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in shares of Titan America in the 2nd quarter worth approximately $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Titan America during the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd lifted its holdings in Titan America by 633.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the company’s stock worth $36,000 after acquiring an additional 1,874 shares during the period. New York State Common Retirement Fund bought a new stake in Titan America during the second quarter worth $96,000. Finally, SG Americas Securities LLC purchased a new position in Titan America in the fourth quarter worth $104,000.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Zacks Research raised Titan America from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Wall Street Zen lowered shares of Titan America from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Citigroup raised their price objective on shares of Titan America from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, HSBC cut shares of Titan America from a “buy” rating to a “hold” rating and set a $18.50 target price on the stock. in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.75.

Titan America Stock Performance

Shares of TTAM opened at $17.00 on Monday. Titan America SA has a 1 year low of $13.29 and a 1 year high of $19.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.99 and a quick ratio of 1.96. The stock’s fifty day moving average price is $16.87 and its two-hundred day moving average price is $16.84. The firm has a market cap of $3.13 billion, a PE ratio of 16.83, a PEG ratio of 1.08 and a beta of 0.97.

Titan America (NYSE:TTAM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Titan America had a return on equity of 18.35% and a net margin of 11.08%.The firm had revenue of $398.42 million for the quarter. During the same period last year, the firm earned $0.19 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Titan America SA will post 1.09 EPS for the current year.

Titan America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th were paid a $0.04 dividend. The ex-dividend date was Thursday, June 18th. This represents a $0.16 annualized dividend and a dividend yield of 0.9%. Titan America’s dividend payout ratio (DPR) is presently 15.84%.

Titan America Company Profile

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”).