Mount Vernon Associates Inc. MD Raises Stake in Titan International Inc. (TWI)
Mount Vernon Associates Inc. MD boosted its stake in Titan International Inc. (NYSE:TWI) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,100 shares of the company’s stock after buying an additional 400 shares during the period. Mount Vernon Associates Inc. MD’s holdings in Titan International were worth $112,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Hartford Investment Management Co. bought a new position in Titan International during the second quarter valued at approximately $105,000. Telemus Capital LLC raised its position in shares of Titan International by 12.8% in the second quarter. Telemus Capital LLC now owns 84,363 shares of the company’s stock valued at $523,000 after buying an additional 9,600 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of Titan International by 1.3% in the second quarter. Capstone Asset Management Co. now owns 34,041 shares of the company’s stock valued at $211,000 after buying an additional 430 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in shares of Titan International by 3.6% in the first quarter. Clear Harbor Asset Management LLC now owns 148,555 shares of the company’s stock valued at $799,000 after buying an additional 5,100 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Titan International by 6.2% in the first quarter. Arizona State Retirement System now owns 22,431 shares of the company’s stock valued at $121,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 76.96% of the company’s stock.
Titan International Inc. (NYSE:TWI) traded up 0.11% during mid-day trading on Monday, reaching $8.94. The company’s stock had a trading volume of 307,883 shares. The stock’s 50 day moving average is $8.92 and its 200 day moving average is $6.88. Titan International Inc. has a one year low of $2.50 and a one year high of $9.98. The firm’s market cap is $483.17 million.
Titan International (NYSE:TWI) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Titan International had a negative return on equity of 17.71% and a negative net margin of 8.44%. The business earned $330.20 million during the quarter, compared to analyst estimates of $330.92 million. During the same period last year, the business posted $0.02 earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. On average, analysts anticipate that Titan International Inc. will post ($0.48) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.005 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.22%. Titan International’s dividend payout ratio is currently -0.91%.
Several brokerages recently issued reports on TWI. Jefferies Group upped their target price on Titan International from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Friday, August 5th. Zacks Investment Research raised Titan International from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $8.68.
About Titan International
Titan International, Inc is a manufacturer of wheels, tires and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates through three segments: agricultural, earthmoving/construction and consumer. The Company’s agricultural market includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment.
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