BNP Paribas Arbitrage SA increased its stake in Titan International, Inc. (NYSE:TWI) by 40.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,304 shares of the industrial products company’s stock after buying an additional 7,862 shares during the period. BNP Paribas Arbitrage SA’s holdings in Titan International were worth $277,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Fishman Jay A Ltd. MI increased its stake in shares of Titan International by 2.5% in the third quarter. Fishman Jay A Ltd. MI now owns 2,903,062 shares of the industrial products company’s stock worth $29,466,000 after buying an additional 70,030 shares during the last quarter. Pekin Singer Strauss Asset Management IL boosted its holdings in Titan International by 3.1% in the third quarter. Pekin Singer Strauss Asset Management IL now owns 618,129 shares of the industrial products company’s stock worth $6,274,000 after purchasing an additional 18,387 shares during the period. Franklin Resources Inc. boosted its holdings in Titan International by 70.3% in the second quarter. Franklin Resources Inc. now owns 3,157,500 shares of the industrial products company’s stock worth $37,922,000 after purchasing an additional 1,303,200 shares during the period. Citigroup Inc. boosted its holdings in Titan International by 33.6% in the second quarter. Citigroup Inc. now owns 74,229 shares of the industrial products company’s stock worth $891,000 after purchasing an additional 18,651 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Titan International by 89.1% in the second quarter. Russell Investments Group Ltd. now owns 83,178 shares of the industrial products company’s stock worth $999,000 after purchasing an additional 39,187 shares during the period. Institutional investors and hedge funds own 87.15% of the company’s stock.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Titan International from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. TheStreet raised shares of Titan International from a “d+” rating to a “c-” rating in a report on Monday, November 6th. Jefferies Group reaffirmed a “hold” rating and issued a $12.00 price objective on shares of Titan International in a report on Sunday, November 5th. Finally, ValuEngine raised shares of Titan International from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Titan International presently has a consensus rating of “Buy” and an average target price of $13.50.
Shares of Titan International, Inc. (TWI) traded up $0.01 on Wednesday, hitting $11.87. 202,100 shares of the stock traded hands, compared to its average volume of 377,339. Titan International, Inc. has a 52 week low of $7.97 and a 52 week high of $14.23. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.22 and a quick ratio of 1.28.
Titan International (NYSE:TWI) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.03. Titan International had a negative net margin of 3.19% and a negative return on equity of 9.22%. The company had revenue of $370.99 million during the quarter, compared to the consensus estimate of $331.30 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. analysts anticipate that Titan International, Inc. will post -0.62 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, December 28th. Titan International’s dividend payout ratio (DPR) is -2.41%.
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Titan International Profile
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.
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