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.
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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