Los Angeles Capital Management & Equity Research Inc. lowered its holdings in shares of Titan International Inc (NYSE:TWI) by 12.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,000 shares of the industrial products company’s stock after selling 13,440 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.15% of Titan International worth $675,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Titan International during the second quarter worth about $113,000. Paloma Partners Management Co acquired a new position in Titan International during the second quarter worth about $149,000. SG Americas Securities LLC acquired a new position in Titan International during the second quarter worth about $189,000. UBS Group AG raised its position in Titan International by 30.1% during the first quarter. UBS Group AG now owns 20,559 shares of the industrial products company’s stock worth $259,000 after acquiring an additional 4,752 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust raised its position in Titan International by 37.5% during the second quarter. New Jersey Better Educational Savings Trust now owns 22,000 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 6,000 shares during the last quarter. Institutional investors own 84.34% of the company’s stock.
TWI has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Titan International from a “hold” rating to a “strong-buy” rating and set a $8.75 price target for the company in a report on Thursday, November 8th. ValuEngine upgraded shares of Titan International from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 17th. TheStreet downgraded shares of Titan International from a “c” rating to a “d+” rating in a report on Thursday, August 23rd. Jefferies Financial Group lowered their price target on shares of Titan International from $12.00 to $8.50 and set a “hold” rating for the company in a report on Tuesday, August 7th. Finally, William Blair downgraded shares of Titan International from an “outperform” rating to a “market perform” rating and set a $21.00 price target for the company. in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $12.75.
Titan International (NYSE:TWI) last issued its quarterly earnings results on Friday, November 2nd. The industrial products company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $384.70 million during the quarter, compared to the consensus estimate of $398.71 million. Titan International had a negative net margin of 1.06% and a positive return on equity of 4.56%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) earnings per share. On average, research analysts predict that Titan International Inc will post 0.25 earnings per share for the current fiscal year.
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Titan International 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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