Boston Partners Buys 59,910 Shares of Titan Machinery Inc. (TITN)
Boston Partners raised its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 13.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 494,690 shares of the company’s stock after buying an additional 59,910 shares during the period. Boston Partners owned about 2.30% of Titan Machinery worth $7,683,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TITN. Federated Investors Inc. PA raised its stake in shares of Titan Machinery by 58.5% during the 2nd quarter. Federated Investors Inc. PA now owns 416,032 shares of the company’s stock valued at $7,480,000 after buying an additional 153,596 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Titan Machinery by 16.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 977,624 shares of the company’s stock valued at $17,577,000 after buying an additional 136,914 shares during the last quarter. Alliancebernstein L.P. purchased a new position in shares of Titan Machinery during the 2nd quarter valued at about $1,983,000. Goldman Sachs Group Inc. raised its stake in shares of Titan Machinery by 151.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 179,701 shares of the company’s stock valued at $3,231,000 after buying an additional 108,215 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Titan Machinery during the 2nd quarter valued at about $1,431,000. Institutional investors and hedge funds own 75.73% of the company’s stock.
In other Titan Machinery news, Director Stan K. Erickson purchased 8,302 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average price of $12.50 per share, for a total transaction of $103,775.00. Following the purchase, the director now directly owns 13,495 shares in the company, valued at $168,687.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.08% of the stock is owned by insiders.
A number of research firms have weighed in on TITN. ValuEngine lowered Titan Machinery from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub lowered Titan Machinery from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Piper Jaffray Companies set a $18.00 price target on Titan Machinery and gave the company a “hold” rating in a research note on Friday, August 4th. Robert W. Baird set a $18.00 price target on Titan Machinery and gave the company a “buy” rating in a research note on Thursday, August 24th. Finally, Zacks Investment Research lowered Titan Machinery from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $18.00.
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Titan Machinery Inc. (NASDAQ:TITN) opened at $14.81 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.74. Titan Machinery Inc. has a 52 week low of $11.41 and a 52 week high of $19.22.
Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Thursday, August 31st. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.03). Titan Machinery had a negative net margin of 1.61% and a negative return on equity of 3.69%. The business had revenue of $268.87 million during the quarter, compared to analysts’ expectations of $260.08 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. Titan Machinery’s revenue for the quarter was down 3.4% on a year-over-year basis. analysts anticipate that Titan Machinery Inc. will post -0.22 EPS for the current fiscal year.
Titan Machinery Company Profile
Titan Machinery Inc owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services, and equipment rental and other activities.
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