Titan America (NYSE:TTAM) Hits New 12-Month Low After Earnings Miss

Titan America SA (NYSE:TTAM)’s share price hit a new 52-week low on Thursday following a weaker than expected earnings announcement. The company traded as low as $12.71 and last traded at $12.44, with a volume of 167,635 shares changing hands. The stock had previously closed at $14.30.

The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.15). The business had revenue of $461.64 million for the quarter. Titan America had a return on equity of 17.03% and a net margin of 10.35%. Titan America’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 earnings per share.

Titan America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Friday, December 18th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, December 18th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.3%. Titan America’s dividend payout ratio (DPR) is presently 16.67%.

Analyst Ratings Changes

TTAM has been the topic of a number of recent research reports. Zacks Research downgraded Titan America from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Weiss Ratings cut Titan America from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, October 20th. Stifel Nicolaus decreased their price target on Titan America from $19.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, October 28th. Finally, Citigroup lowered their price objective on Titan America from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, October 2nd. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Titan America presently has a consensus rating of “Hold” and an average price target of $18.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Titan America in the second quarter worth about $7,623,000. Ancora Advisors LLC grew its position in shares of Titan America by 0.6% during the 2nd quarter. Ancora Advisors LLC now owns 161,220 shares of the company’s stock valued at $3,008,000 after acquiring an additional 1,020 shares during the period. Sei Investments Co. grew its position in shares of Titan America by 23.2% during the 1st quarter. Sei Investments Co. now owns 131,242 shares of the company’s stock valued at $1,965,000 after acquiring an additional 24,672 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Titan America in the 1st quarter valued at about $1,489,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Titan America in the 1st quarter valued at about $1,452,000.

Titan America Stock Down 12.8%

The company has a market cap of $2.30 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.21 and a beta of 1.06. The company has a current ratio of 2.08, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $13.96 and a two-hundred day moving average of $15.99.

Titan America Company Profile

Titan America is a building materials company that produces and supplies cement, ready-mix concrete, aggregates and other construction products. Its materials are used in residential, commercial, infrastructure and other construction projects.

The company operates cement manufacturing facilities, distribution terminals, aggregate quarries and ready-mix concrete plants. Its product portfolio also includes concrete masonry products and related materials used by contractors, concrete producers and construction companies.

Titan America serves customers primarily across the eastern and southeastern United States, with operations and distribution capabilities covering markets including Florida, Virginia, the Carolinas, the Mid-Atlantic and the Northeast.