Titan International, Inc. $TWI Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in shares of Titan International, Inc. (NYSE:TWI) by 29.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 644,586 shares of the industrial products company’s stock after selling 269,682 shares during the period. JPMorgan Chase & Co.’s holdings in Titan International were worth $4,873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EVR Research LP increased its holdings in shares of Titan International by 27.3% in the second quarter. EVR Research LP now owns 1,400,000 shares of the industrial products company’s stock valued at $14,378,000 after purchasing an additional 300,000 shares during the period. American Century Companies Inc. lifted its holdings in shares of Titan International by 13.2% during the second quarter. American Century Companies Inc. now owns 1,212,683 shares of the industrial products company’s stock worth $12,454,000 after purchasing an additional 141,256 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Titan International by 11.3% during the third quarter. Victory Capital Management Inc. now owns 1,649,715 shares of the industrial products company’s stock worth $12,472,000 after purchasing an additional 167,032 shares during the period. Donald Smith & CO. Inc. grew its position in Titan International by 92.2% in the 2nd quarter. Donald Smith & CO. Inc. now owns 1,459,953 shares of the industrial products company’s stock valued at $14,994,000 after buying an additional 700,467 shares during the last quarter. Finally, Villanova Investment Management Co LLC grew its position in Titan International by 28.4% in the 3rd quarter. Villanova Investment Management Co LLC now owns 213,165 shares of the industrial products company’s stock valued at $1,612,000 after buying an additional 47,153 shares during the last quarter. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Aipct Holdings Llc sold 3,041,288 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $8.95, for a total value of $27,219,527.60. Following the completion of the sale, the insider owned 8,880,478 shares in the company, valued at $79,480,278.10. This trade represents a 25.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 25.00% of the stock is owned by corporate insiders.

Titan International Stock Up 6.1%

Titan International stock opened at $7.51 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.30 and a quick ratio of 1.20. Titan International, Inc. has a 1-year low of $5.93 and a 1-year high of $11.70. The company has a market cap of $481.05 million, a PE ratio of -7.51 and a beta of 1.57. The stock’s 50 day moving average price is $9.05 and its 200 day moving average price is $8.37.

Titan International (NYSE:TWI) last released its quarterly earnings data on Thursday, February 26th. The industrial products company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.01). The business had revenue of $410.44 million during the quarter, compared to analysts’ expectations of $396.86 million. Titan International had a negative return on equity of 2.82% and a negative net margin of 3.47%. On average, sell-side analysts predict that Titan International, Inc. will post 0.03 EPS for the current fiscal year.

Analyst Ratings Changes

TWI has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Titan International in a research report on Monday, December 29th. DA Davidson set a $13.00 target price on shares of Titan International in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Titan International has a consensus rating of “Hold” and a consensus price target of $12.00.

About Titan International

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.