Numeric Investors LLC increased its position in Titan International Inc (NYSE:TWI) by 3.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,858 shares of the company’s stock after buying an additional 1,358 shares during the period. Numeric Investors LLC owned approximately 0.07% of Titan International worth $402,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Heartland Advisors Inc. bought a new stake in Titan International during the third quarter worth $3,542,000. Renaissance Technologies LLC raised its stake in Titan International by 8.0% in the fourth quarter. Renaissance Technologies LLC now owns 2,606,000 shares of the company’s stock worth $29,213,000 after buying an additional 193,200 shares in the last quarter. BlackRock Inc. raised its stake in Titan International by 798.0% in the third quarter. BlackRock Inc. now owns 112,095 shares of the company’s stock worth $1,135,000 after buying an additional 99,612 shares in the last quarter. Royce & Associates LP raised its stake in Titan International by 116.5% in the fourth quarter. Royce & Associates LP now owns 428,700 shares of the company’s stock worth $4,806,000 after buying an additional 230,700 shares in the last quarter. Finally, Allianz Asset Management AG bought a new stake in Titan International during the fourth quarter worth $12,321,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.
Titan International Inc (NYSE:TWI) opened at 10.43 on Tuesday. The company has a 50-day moving average price of $12.87 and a 200 day moving average price of $11.14. Titan International Inc has a 12-month low of $4.80 and a 12-month high of $14.23. The stock’s market cap is $563.80 million.
Titan International (NYSE:TWI) last announced its quarterly earnings results on Wednesday, March 15th. The company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.15. The company earned $307.30 million during the quarter, compared to analyst estimates of $311.02 million. Titan International had a negative net margin of 6.86% and a negative return on equity of 12.49%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.38) EPS. On average, equities research analysts predict that Titan International Inc will post ($0.09) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be issued a $0.005 dividend. The ex-dividend date is Wednesday, March 29th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.19%. Titan International’s dividend payout ratio (DPR) is presently -1.23%.
A number of analysts have recently weighed in on TWI shares. Zacks Investment Research raised Titan International from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Wednesday, February 1st. William Blair raised Titan International from a “market perform” rating to an “outperform” rating in a research report on Friday, January 27th. Aegis started coverage on Titan International in a research report on Friday, December 23rd. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Feltl & Co. lowered Titan International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 16th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $13.50.
About Titan International
Titan International, Inc is a manufacturer of wheels, tires and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates through three segments: agricultural, earthmoving/construction and consumer. The Company’s agricultural market includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment.
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