Principal Financial Group Inc. Sells 1,181 Shares of Titan International, Inc. (TWI)
Principal Financial Group Inc. trimmed its stake in Titan International, Inc. (NYSE:TWI) by 0.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 367,545 shares of the industrial products company’s stock after selling 1,181 shares during the quarter. Principal Financial Group Inc. owned approximately 0.62% of Titan International worth $4,414,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Titan International by 7.7% during the first quarter. Bank of New York Mellon Corp now owns 616,894 shares of the industrial products company’s stock worth $6,378,000 after purchasing an additional 44,300 shares during the period. Comerica Bank lifted its holdings in shares of Titan International by 4.3% during the first quarter. Comerica Bank now owns 48,382 shares of the industrial products company’s stock valued at $527,000 after purchasing an additional 1,974 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of Titan International in the 1st quarter valued at $170,000. Texas Permanent School Fund boosted its position in shares of Titan International by 9.9% in the 1st quarter. Texas Permanent School Fund now owns 35,092 shares of the industrial products company’s stock valued at $363,000 after purchasing an additional 3,157 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Titan International by 6.7% in the 1st quarter. Ameriprise Financial Inc. now owns 787,731 shares of the industrial products company’s stock valued at $8,146,000 after purchasing an additional 49,641 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.
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Shares of Titan International, Inc. (TWI) opened at 10.23 on Wednesday. The firm’s market capitalization is $610.73 million. The firm’s 50-day moving average is $9.23 and its 200 day moving average is $10.54. Titan International, Inc. has a 52 week low of $7.97 and a 52 week high of $14.23.
Titan International (NYSE:TWI) last released its earnings results on Thursday, August 3rd. The industrial products company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.18). Titan International had a negative net margin of 3.23% and a negative return on equity of 10.79%. The company had revenue of $364.40 million during the quarter, compared to analyst estimates of $352.13 million. During the same period in the previous year, the company posted ($0.04) EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts forecast that Titan International, Inc. will post ($0.26) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.005 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.20%. Titan International’s payout ratio is currently -2.44%.
A number of brokerages recently weighed in on TWI. ValuEngine cut Titan International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Zacks Investment Research downgraded Titan International from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BidaskClub raised shares of Titan International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, TheStreet raised shares of Titan International from a “d+” rating to a “c-” rating in a research note on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $14.00.
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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