Royal Bank of Canada Acquires 151,078 Shares of Titan International, Inc. $TWI

Royal Bank of Canada raised its holdings in Titan International, Inc. (NYSE:TWI) by 322.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 197,863 shares of the industrial products company’s stock after buying an additional 151,078 shares during the period. Royal Bank of Canada owned about 0.31% of Titan International worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in TWI. Sei Investments Co. raised its holdings in shares of Titan International by 99.4% in the 1st quarter. Sei Investments Co. now owns 369,535 shares of the industrial products company’s stock worth $2,553,000 after acquiring an additional 184,176 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Titan International by 10.5% in the first quarter. Renaissance Technologies LLC now owns 2,477,119 shares of the industrial products company’s stock worth $17,117,000 after purchasing an additional 235,632 shares during the last quarter. TritonPoint Partners LLC bought a new position in shares of Titan International in the fourth quarter valued at approximately $1,116,000. Dimensional Fund Advisors LP boosted its position in shares of Titan International by 6.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,426,873 shares of the industrial products company’s stock valued at $23,678,000 after buying an additional 204,589 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Titan International by 27.8% during the first quarter. Empowered Funds LLC now owns 773,501 shares of the industrial products company’s stock worth $5,345,000 after buying an additional 168,328 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TWI shares. Weiss Ratings restated a “sell (d-)” rating on shares of Titan International in a research note on Monday, July 20th. DA Davidson reiterated a “buy” rating and issued a $13.00 target price on shares of Titan International in a research note on Friday, June 12th. Finally, Wall Street Zen upgraded shares of Titan International from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.00.

Titan International Stock Performance

Shares of TWI opened at $6.53 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.15 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $421.38 million, a price-to-earnings ratio of -5.40 and a beta of 1.45. The stock has a 50 day moving average of $7.43 and a 200 day moving average of $8.05. Titan International, Inc. has a 12 month low of $6.37 and a 12 month high of $11.70.

Titan International (NYSE:TWI) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.15. The business had revenue of $484.77 million for the quarter, compared to analysts’ expectations of $480.06 million. Titan International had a negative return on equity of 1.56% and a negative net margin of 4.11%. As a group, sell-side analysts forecast that Titan International, Inc. will post -0.13 earnings per share for the current year.

Titan International Profile

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan’s product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.