Renaissance Technologies LLC trimmed its position in shares of Titan International, Inc. (NYSE:TWI) by 1.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,445,600 shares of the industrial products company’s stock after selling 44,700 shares during the quarter. Renaissance Technologies LLC owned approximately 4.10% of Titan International worth $29,372,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Titan International by 9.5% during the second quarter. Vanguard Group Inc. now owns 3,349,303 shares of the industrial products company’s stock worth $40,224,000 after purchasing an additional 290,653 shares in the last quarter. Northern Trust Corp increased its position in shares of Titan International by 12.1% during the second quarter. Northern Trust Corp now owns 598,854 shares of the industrial products company’s stock worth $7,192,000 after purchasing an additional 64,491 shares in the last quarter. Citigroup Inc. increased its position in shares of Titan International by 33.6% during the second quarter. Citigroup Inc. now owns 74,229 shares of the industrial products company’s stock worth $891,000 after purchasing an additional 18,651 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Titan International by 2.5% during the second quarter. New York State Common Retirement Fund now owns 106,559 shares of the industrial products company’s stock worth $1,280,000 after purchasing an additional 2,581 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its position in shares of Titan International by 7.1% during the second quarter. Thrivent Financial For Lutherans now owns 29,170 shares of the industrial products company’s stock worth $350,000 after purchasing an additional 1,940 shares in the last quarter. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Titan International, Inc. (NYSE:TWI) opened at 9.90 on Friday. Titan International, Inc. has a 1-year low of $7.97 and a 1-year high of $14.23. The firm’s market cap is $591.03 million. The firm’s 50-day moving average price is $9.35 and its 200-day moving average price is $10.53.

Titan International (NYSE:TWI) last released its quarterly 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). The company had revenue of $364.40 million for the quarter, compared to analysts’ expectations of $352.13 million. Titan International had a negative return on equity of 10.79% and a negative net margin of 3.23%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) EPS. On average, equities research analysts anticipate that Titan International, Inc. will post ($0.53) earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend is Thursday, September 28th. Titan International’s payout ratio is -2.44%.

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A number of equities analysts have weighed in on TWI shares. BidaskClub raised Titan International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. TheStreet raised Titan International from a “d+” rating to a “c-” rating in a research note on Friday, June 30th. Jefferies Group LLC reissued a “hold” rating and set a $10.50 price objective on shares of Titan International in a research note on Friday. Zacks Investment Research lowered Titan International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, ValuEngine lowered Titan International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Titan International currently has an average rating of “Hold” and an average target price of $12.75.

About Titan International

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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Institutional Ownership by Quarter for Titan International (NYSE:TWI)

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