Titan International Inc (NYSE:TWI) Director Maurice M. Taylor, Jr. acquired 13,805 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $3.02 per share, for a total transaction of $41,691.10. Following the completion of the transaction, the director now owns 702,889 shares of the company’s stock, valued at $2,122,724.78. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shares of NYSE TWI traded down $0.12 during midday trading on Wednesday, hitting $2.93. The company’s stock had a trading volume of 398,540 shares, compared to its average volume of 431,979. The company has a current ratio of 2.00, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. The business’s 50 day moving average price is $3.93. Titan International Inc has a 12-month low of $2.72 and a 12-month high of $8.40. The firm has a market capitalization of $181.70 million, a price-to-earnings ratio of 10.85 and a beta of 2.04.

Titan International (NYSE:TWI) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.25). Titan International had a negative return on equity of 5.32% and a negative net margin of 1.31%. The business had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $440.38 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. As a group, research analysts expect that Titan International Inc will post -0.22 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.005 dividend. The ex-dividend date was Thursday, June 27th. This represents a $0.02 annualized dividend and a dividend yield of 0.68%. Titan International’s payout ratio is 7.41%.

A number of equities research analysts have issued reports on the company. TheStreet downgraded Titan International from a “c-” rating to a “d+” rating in a research report on Friday, August 2nd. ValuEngine upgraded Titan International from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Sidoti set a $8.00 price objective on Titan International and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Zacks Investment Research downgraded Titan International from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th.

Hedge funds and other institutional investors have recently modified their holdings of the company. Grace & White Inc. NY raised its holdings in shares of Titan International by 48.3% in the second quarter. Grace & White Inc. NY now owns 566,430 shares of the industrial products company’s stock worth $2,770,000 after buying an additional 184,513 shares during the period. Strs Ohio purchased a new position in Titan International during the 1st quarter worth $39,000. Legal & General Group Plc increased its holdings in Titan International by 2.8% during the 4th quarter. Legal & General Group Plc now owns 108,328 shares of the industrial products company’s stock worth $509,000 after purchasing an additional 2,995 shares during the period. IndexIQ Advisors LLC increased its holdings in Titan International by 1,955.4% during the 1st quarter. IndexIQ Advisors LLC now owns 268,273 shares of the industrial products company’s stock worth $1,602,000 after purchasing an additional 255,221 shares during the period. Finally, Wesleyan Assurance Society purchased a new position in Titan International during the 1st quarter worth $221,000. Hedge funds and other institutional investors own 84.94% of the company’s stock.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

See Also: Dividend

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