Titan International, Inc. (TWI) Position Boosted by Cortina Asset Management LLC
Cortina Asset Management LLC raised its holdings in shares of Titan International, Inc. (NYSE:TWI) by 32.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 626,696 shares of the industrial products company’s stock after buying an additional 152,054 shares during the quarter. Cortina Asset Management LLC owned about 1.05% of Titan International worth $6,361,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of TWI. State of Alaska Department of Revenue grew its position in Titan International by 94.8% during the second quarter. State of Alaska Department of Revenue now owns 9,447 shares of the industrial products company’s stock worth $113,000 after buying an additional 4,597 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Titan International during the second quarter worth about $125,000. IndexIQ Advisors LLC grew its position in Titan International by 0.6% during the second quarter. IndexIQ Advisors LLC now owns 11,723 shares of the industrial products company’s stock worth $141,000 after buying an additional 66 shares in the last quarter. Westpac Banking Corp purchased a new position in Titan International during the second quarter worth about $152,000. Finally, UBS Asset Management Americas Inc. purchased a new position in Titan International during the first quarter worth about $170,000. Institutional investors and hedge funds own 86.81% of the company’s stock.
Several brokerages have issued reports on TWI. ValuEngine lowered Titan International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Zacks Investment Research lowered Titan International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. BidaskClub raised Titan International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $12.00 price target on shares of Titan International in a research note on Sunday, November 5th. Finally, TheStreet raised Titan International from a “d+” rating to a “c-” rating in a research note on Monday, November 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $13.50.
In other news, CEO Paul G. Reitz sold 22,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $10.82, for a total value of $238,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.80% of the company’s stock.
Shares of Titan International, Inc. (TWI) traded up $0.54 during mid-day trading on Thursday, reaching $11.63. The company’s stock had a trading volume of 364,100 shares, compared to its average volume of 388,307. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.22 and a quick ratio of 1.28. Titan International, Inc. has a 52-week low of $7.97 and a 52-week high of $14.23.
Titan International (NYSE:TWI) last issued its quarterly earnings results on Thursday, November 2nd. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. Titan International had a negative return on equity of 9.22% and a negative net margin of 3.19%. The firm had revenue of $370.99 million during the quarter, compared to analyst estimates of $331.30 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue was up 21.2% compared to the same quarter last year. equities research analysts anticipate that Titan International, Inc. will post -0.62 earnings per share for the current fiscal year.
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Titan International Profile
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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