Grace & White Inc. NY Grows Position in Titan International Inc (NYSE:TWI)

Grace & White Inc. NY grew its stake in Titan International Inc (NYSE:TWI) by 48.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 566,430 shares of the industrial products company’s stock after buying an additional 184,513 shares during the quarter. Grace & White Inc. NY’s holdings in Titan International were worth $2,770,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in Titan International in the 1st quarter worth approximately $39,000. Commonwealth Equity Services LLC purchased a new position in shares of Titan International during the 2nd quarter valued at approximately $59,000. BNP Paribas Arbitrage SA lifted its position in shares of Titan International by 337.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,087 shares of the industrial products company’s stock valued at $66,000 after buying an additional 8,552 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Titan International by 354.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 16,205 shares of the industrial products company’s stock valued at $76,000 after buying an additional 12,637 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Titan International by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 19,901 shares of the industrial products company’s stock valued at $119,000 after buying an additional 2,544 shares in the last quarter. Institutional investors and hedge funds own 85.74% of the company’s stock.

Shares of NYSE:TWI traded up $0.04 during midday trading on Wednesday, reaching $3.78. 2,860 shares of the company’s stock traded hands, compared to its average volume of 199,034. Titan International Inc has a 1 year low of $3.53 and a 1 year high of $10.75. The stock has a market cap of $234.60 million, a P/E ratio of 13.98 and a beta of 2.08. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.97 and a current ratio of 1.91. The company has a fifty day simple moving average of $4.33.

Titan International (NYSE:TWI) last announced its earnings results on Friday, May 3rd. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.13). Titan International had a negative net margin of 0.77% and a negative return on equity of 2.44%. The business had revenue of $410.40 million for the quarter, compared to analysts’ expectations of $429.30 million. During the same quarter last year, the business earned $0.23 EPS. The company’s quarterly revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts forecast that Titan International Inc will post 0.37 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.005 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.53%. Titan International’s dividend payout ratio (DPR) is 7.41%.

A number of research analysts have recently issued reports on TWI shares. Zacks Investment Research lowered Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Sidoti set a $8.00 target price on Titan International and gave the company a “buy” rating in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.94.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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Institutional Ownership by Quarter for Titan International (NYSE:TWI)

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