Titan America (NYSE:TTAM) Releases Quarterly Earnings Results

Titan America (NYSE:TTAM) announced its quarterly earnings results on Wednesday. The company reported $0.22 EPS for the quarter, FiscalAI reports. The company had revenue of $461.64 million for the quarter. Titan America had a net margin of 10.35% and a return on equity of 17.03%.

Titan America Price Performance

Titan America stock traded up $0.64 during mid-day trading on Wednesday, hitting $14.32. 668,420 shares of the company traded hands, compared to its average volume of 291,269. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 2.08. Titan America has a one year low of $12.88 and a one year high of $19.57. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The stock has a fifty day moving average price of $13.98 and a 200-day moving average price of $16.00.

Titan America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Friday, December 18th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, December 18th. This represents a $0.16 annualized dividend and a yield of 1.1%. Titan America’s payout ratio is presently 16.67%.

Institutional Trading of Titan America

Institutional investors and hedge funds have recently made changes to their positions in the stock. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Titan America during the second quarter valued at approximately $7,623,000. Renaissance Technologies LLC purchased a new position in shares of Titan America during the first quarter worth approximately $1,489,000. Lazard Asset Management LLC bought a new stake in shares of Titan America in the 1st quarter worth approximately $1,452,000. Principal Financial Group Inc. bought a new stake in shares of Titan America in the 1st quarter worth approximately $1,167,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Titan America in the 2nd quarter valued at $915,000.

Analyst Ratings Changes

TTAM has been the subject of several recent research reports. Zacks Research cut Titan America from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Weiss Ratings lowered Titan America from a “hold (c-)” rating to a “sell (d+)” rating in a 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 on the stock in a research report on Wednesday, October 28th. Finally, Citigroup lowered their price target on shares of Titan America from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Titan America presently has a consensus rating of “Hold” and a consensus price target of $18.10.

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.