Lazard Asset Management LLC Buys Shares of 96,930 Titan America SA $TTAM

Lazard Asset Management LLC bought a new position in shares of Titan America SA (NYSE:TTAM) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 96,930 shares of the company’s stock, valued at approximately $1,452,000. Lazard Asset Management LLC owned 0.05% of Titan America at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TTAM. Rhumbline Advisers grew its holdings in Titan America by 3.0% during the third quarter. Rhumbline Advisers now owns 24,073 shares of the company’s stock valued at $360,000 after purchasing an additional 691 shares during the period. PNC Financial Services Group Inc. raised its holdings in Titan America by 3.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 26,026 shares of the company’s stock worth $429,000 after purchasing an additional 823 shares during the period. Intech Investment Management LLC raised its holdings in Titan America by 7.1% in the third quarter. Intech Investment Management LLC now owns 13,622 shares of the company’s stock worth $204,000 after purchasing an additional 898 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Titan America by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 55,975 shares of the company’s stock worth $839,000 after purchasing an additional 1,072 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Titan America by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,733 shares of the company’s stock valued at $243,000 after buying an additional 1,786 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Stifel Nicolaus raised their price objective on Titan America from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. Zacks Research upgraded Titan America from a “strong sell” rating to a “hold” rating in a report on Thursday, May 21st. Wall Street Zen lowered Titan America from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Citigroup lifted their price objective on Titan America from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings started coverage on Titan America in a research report on Wednesday, July 29th. They issued a “hold (c)” rating for the company. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.30.

Titan America Trading Up 1.7%

Shares of NYSE:TTAM opened at $16.12 on Wednesday. Titan America SA has a 12 month low of $13.89 and a 12 month high of $19.57. The company has a quick ratio of 1.17, a current ratio of 2.08 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $17.09 and its 200 day simple moving average is $16.80. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.01 and a beta of 1.07.

Titan America (NYSE:TTAM) last announced its earnings results on Tuesday, July 28th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.06). The company had revenue of $470.63 million during the quarter. Titan America had a return on equity of 17.03% and a net margin of 10.35%.The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 earnings per share. As a group, research analysts forecast that Titan America SA will post 1.09 EPS for the current fiscal year.

Titan America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, October 1st. Titan America’s dividend payout ratio is currently 16.67%.

Titan America 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”).