OppenheimerFunds Inc. Acquires 16,459 Shares of Titan International Inc (TWI)
OppenheimerFunds Inc. raised its holdings in Titan International Inc (NYSE:TWI) by 20.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 97,745 shares of the industrial products company’s stock after acquiring an additional 16,459 shares during the period. OppenheimerFunds Inc.’s holdings in Titan International were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of TWI. BlackRock Inc. increased its stake in shares of Titan International by 11.6% in the second quarter. BlackRock Inc. now owns 7,267,904 shares of the industrial products company’s stock worth $77,985,000 after purchasing an additional 754,114 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Titan International in the first quarter worth about $5,500,000. Millennium Management LLC purchased a new position in shares of Titan International in the first quarter worth about $3,424,000. Renaissance Technologies LLC increased its stake in shares of Titan International by 9.0% in the second quarter. Renaissance Technologies LLC now owns 2,867,100 shares of the industrial products company’s stock worth $30,764,000 after purchasing an additional 236,800 shares in the last quarter. Finally, Covalent Partners LLC purchased a new position in shares of Titan International in the first quarter worth about $2,511,000. Hedge funds and other institutional investors own 86.41% of the company’s stock.
Several research firms have recently weighed in on TWI. ValuEngine downgraded shares of Titan International from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. TheStreet downgraded shares of Titan International from a “c” rating to a “d+” rating in a research note on Thursday, August 23rd. William Blair downgraded shares of Titan International from an “outperform” rating to a “market perform” rating and set a $21.00 target price for the company. in a research note on Friday, August 3rd. Jefferies Financial Group reduced their target price on shares of Titan International from $12.00 to $8.50 and set a “hold” rating for the company in a research note on Tuesday, August 7th. Finally, Zacks Investment Research downgraded shares of Titan International from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $14.50.
Shares of NYSE:TWI opened at $7.51 on Friday. The company has a market cap of $457.62 million, a P/E ratio of -15.33 and a beta of 1.47. Titan International Inc has a 12 month low of $6.71 and a 12 month high of $14.53. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.05 and a quick ratio of 1.14.
Titan International (NYSE:TWI) last issued its quarterly earnings data on Friday, August 3rd. The industrial products company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.16). The firm had revenue of $428.90 million for the quarter, compared to analysts’ expectations of $427.32 million. Titan International had a negative net margin of 1.47% and a positive return on equity of 3.38%. Titan International’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) EPS. equities research analysts anticipate that Titan International Inc will post 0.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a dividend of $0.005 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.02 annualized dividend and a yield of 0.27%. Titan International’s dividend payout ratio is currently -4.08%.
About Titan International
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally. It operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
Want to see what other hedge funds are holding TWI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Titan International Inc (NYSE:TWI).
Receive News & Ratings for Titan International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Titan International and related companies with MarketBeat.com's FREE daily email newsletter.