Insider Buying: Titan International Inc (NYSE:TWI) Director Acquires 139,214 Shares of Stock

Titan International Inc (NYSE:TWI) Director Maurice M. Taylor, Jr. bought 139,214 shares of Titan International stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $3.04 per share, for a total transaction of $423,210.56. Following the completion of the transaction, the director now directly owns 619,477 shares in the company, valued at $1,883,210.08. The transaction was disclosed in a filing with the SEC, which is available at this link.

NYSE:TWI traded down $0.01 during mid-day trading on Friday, hitting $3.02. 522,906 shares of the company’s stock traded hands, compared to its average volume of 432,994. The stock has a fifty day moving average of $4.09. Titan International Inc has a twelve month low of $2.72 and a twelve month high of $8.40. The company has a market cap of $174.48 million, a P/E ratio of 11.19 and a beta of 2.04. The company has a quick ratio of 1.02, a current ratio of 2.00 and a debt-to-equity ratio of 1.55.

Titan International (NYSE:TWI) last announced its earnings results on Thursday, August 1st. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.25). Titan International had a negative net margin of 1.31% and a negative return on equity of 5.32%. The business had revenue of $390.60 million for the quarter, compared to analyst estimates of $440.38 million. During the same period in the prior year, the company earned $0.02 earnings per share. The company’s quarterly revenue was down 8.9% on a year-over-year basis. Analysts expect that Titan International Inc will post -0.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Thursday, June 27th. Titan International’s dividend payout ratio is presently 7.41%.

Several hedge funds have recently made changes to their positions in TWI. Russell Investments Group Ltd. increased its holdings in Titan International by 8.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 54,300 shares of the industrial products company’s stock valued at $266,000 after purchasing an additional 4,400 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Titan International by 1,558.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 407,091 shares of the industrial products company’s stock valued at $1,966,000 after purchasing an additional 382,538 shares in the last quarter. KBC Group NV acquired a new stake in Titan International in the 2nd quarter valued at $387,000. Strs Ohio increased its holdings in Titan International by 165.2% in the 2nd quarter. Strs Ohio now owns 17,500 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 10,900 shares in the last quarter. Finally, Grace & White Inc. NY increased its holdings in Titan International by 48.3% in the 2nd quarter. Grace & White Inc. NY now owns 566,430 shares of the industrial products company’s stock valued at $2,770,000 after purchasing an additional 184,513 shares in the last quarter. 85.40% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently issued reports on TWI shares. ValuEngine raised Titan International from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Zacks Investment Research lowered Titan International from a “hold” rating to a “sell” rating in a research report on Tuesday. 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. Finally, TheStreet lowered Titan International from a “c-” rating to a “d+” rating in a research report on Friday, August 2nd.

Titan International Company Profile

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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