Lisanti Capital Growth LLC Purchases New Position in Titan International Inc (TWI)
Lisanti Capital Growth LLC purchased a new position in shares of Titan International Inc (NYSE:TWI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 73,835 shares of the industrial products company’s stock, valued at approximately $951,000.
A number of other institutional investors and hedge funds have also made changes to their positions in TWI. Piedmont Investment Advisors LLC bought a new position in Titan International during the second quarter worth about $125,000. Crossmark Global Holdings Inc. bought a new position in Titan International during the fourth quarter worth about $216,000. Teacher Retirement System of Texas acquired a new stake in shares of Titan International during the fourth quarter worth approximately $223,000. BNP Paribas Arbitrage SA increased its holdings in shares of Titan International by 40.4% during the third quarter. BNP Paribas Arbitrage SA now owns 27,304 shares of the industrial products company’s stock worth $277,000 after buying an additional 7,862 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Titan International by 10.3% during the second quarter. Voya Investment Management LLC now owns 24,230 shares of the industrial products company’s stock worth $291,000 after buying an additional 2,266 shares in the last quarter. Hedge funds and other institutional investors own 86.80% of the company’s stock.
Shares of Titan International Inc (TWI) opened at $11.97 on Friday. The firm has a market cap of $720.14, a P/E ratio of -14.42 and a beta of 1.73. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.28 and a current ratio of 2.22. Titan International Inc has a fifty-two week low of $7.97 and a fifty-two week high of $14.31.
Several analysts have recently weighed in on TWI shares. ValuEngine raised shares of Titan International from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Zacks Investment Research raised shares of Titan International from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Jefferies Group reaffirmed a “hold” rating and set a $12.00 price objective on shares of Titan International in a report on Sunday, November 5th. Finally, TheStreet raised shares of Titan International from a “d+” rating to a “c-” rating in a report on Monday, November 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Titan International currently has an average rating of “Hold” and a consensus target price of $12.00.
In other news, CEO Paul G. Reitz sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $10.82, for a total transaction of $238,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James M. Froisland acquired 5,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were purchased at an average cost of $11.65 per share, with a total value of $58,250.00. Following the acquisition, the chief financial officer now owns 5,000 shares of the company’s stock, valued at approximately $58,250. The disclosure for this purchase can be found here. Company insiders own 17.80% of the company’s stock.
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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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