Titan International Inc (TWI) Holding Boosted by ClariVest Asset Management LLC

Titan International Inc (TWI) Holding Boosted by ClariVest Asset Management LLC

ClariVest Asset Management LLC increased its stake in Titan International Inc (NYSE:TWI) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,899 shares of the industrial products company’s stock after buying an additional 425 shares during the period. ClariVest Asset Management LLC’s holdings in Titan International were worth $2,026,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Titan International during the fourth quarter valued at about $580,000. Comerica Bank raised its position in Titan International by 5.2% in the fourth quarter. Comerica Bank now owns 46,408 shares of the industrial products company’s stock worth $491,000 after buying an additional 2,310 shares during the period. State Street Corp raised its position in Titan International by 7.0% in the fourth quarter. State Street Corp now owns 968,171 shares of the industrial products company’s stock worth $10,852,000 after buying an additional 62,930 shares during the period. Dimensional Fund Advisors LP raised its position in Titan International by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,281,067 shares of the industrial products company’s stock worth $36,781,000 after buying an additional 527,385 shares during the period. Finally, FMR LLC acquired a new position in Titan International during the fourth quarter worth $3,443,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Titan International Inc (NYSE TWI) traded up 1.71% on Monday, hitting $11.33. 226,295 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $10.47 and a 200-day moving average price of $11.30. Titan International Inc has a 52-week low of $5.79 and a 52-week high of $14.23. The stock’s market cap is $675.91 million.

Titan International (NYSE:TWI) last announced its earnings results on Thursday, May 4th. The industrial products company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.09. Titan International had a negative net margin of 6.86% and a negative return on equity of 12.49%. The business had revenue of $357.50 million for the quarter, compared to the consensus estimate of $332.14 million. During the same quarter last year, the firm posted ($0.33) EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Analysts predict that Titan International Inc will post ($0.08) earnings per share for the current fiscal year.

A number of research analysts have weighed in on TWI shares. Sidoti raised shares of Titan International from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 18th. Jefferies Group LLC reaffirmed an “underperform” rating and issued a $14.00 price objective (up from $11.50) on shares of Titan International in a research note on Friday, April 14th. Feltl & Co. reaffirmed a “buy” rating on shares of Titan International in a research note on Thursday, March 16th. Finally, Zacks Investment Research lowered shares of Titan International from a “buy” rating to a “hold” rating in a research note on Saturday, March 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Titan International presently has an average rating of “Buy” and a consensus target price of $14.33.

About Titan International

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TWI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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