Titan America (NYSE:TTAM) Issues Earnings Results

Titan America (NYSE:TTAM) released its earnings results on Tuesday. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02), FiscalAI reports. Titan America had a return on equity of 19.07% and a net margin of 11.14%.The company had revenue of $398.42 million during the quarter. During the same quarter last year, the business earned $0.19 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis.

Titan America Price Performance

TTAM opened at $16.52 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.91 and a current ratio of 3.03. The stock has a market capitalization of $3.04 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.15 and a beta of 1.24. The company’s 50-day simple moving average is $16.13 and its two-hundred day simple moving average is $16.43. Titan America has a 52-week low of $12.18 and a 52-week high of $19.42.

Titan America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.16 dividend on an annualized basis and a yield of 1.0%. Titan America’s payout ratio is 15.69%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TTAM shares. Citigroup lowered their price target on Titan America from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Zacks Research downgraded shares of Titan America from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen cut shares of Titan America from a “buy” rating to a “hold” rating in a report on Monday, April 13th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Titan America presently has a consensus rating of “Hold” and an average target price of $17.00.

Insider Activity at Titan America

In related news, CFO Lawrence Hugh Jr. Wilt acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was purchased at an average cost of $14.93 per share, with a total value of $298,600.00. Following the completion of the acquisition, the chief financial officer directly owned 20,000 shares of the company’s stock, valued at approximately $298,600. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Titan America

Several hedge funds and other institutional investors have recently modified their holdings of TTAM. BNP Paribas Financial Markets bought a new position in shares of Titan America in the 2nd quarter worth approximately $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Titan America during the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Titan America by 633.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the company’s stock worth $36,000 after purchasing an additional 1,874 shares in the last quarter. CWM LLC purchased a new stake in shares of Titan America in the 3rd quarter worth $61,000. Finally, New York State Common Retirement Fund bought a new position in Titan America in the 2nd quarter worth $96,000.

Titan America Company Profile

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).