State of Alaska Department of Revenue boosted its position in Titan International, Inc. (NYSE:TWI) by 94.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,447 shares of the industrial products company’s stock after buying an additional 4,597 shares during the period. State of Alaska Department of Revenue’s holdings in Titan International were worth $113,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Texas Permanent School Fund boosted its position in Titan International by 9.9% in the first quarter. Texas Permanent School Fund now owns 35,092 shares of the industrial products company’s stock worth $363,000 after buying an additional 3,157 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new position in Titan International during the first quarter worth approximately $170,000. Comerica Bank boosted its position in Titan International by 4.3% in the first quarter. Comerica Bank now owns 48,382 shares of the industrial products company’s stock worth $527,000 after buying an additional 1,974 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Titan International by 7.7% in the first quarter. Bank of New York Mellon Corp now owns 616,894 shares of the industrial products company’s stock worth $6,378,000 after buying an additional 44,300 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new position in Titan International during the first quarter worth approximately $819,000. 85.35% of the stock is owned by hedge funds and other institutional investors.

Titan International, Inc. (NYSE:TWI) traded down 5.13% during midday trading on Friday, reaching $9.24. 734,487 shares of the company’s stock traded hands. The company’s market capitalization is $551.63 million. The firm’s 50-day moving average is $11.85 and its 200-day moving average is $11.48. Titan International, Inc. has a 1-year low of $8.52 and a 1-year high of $14.23.

Titan International (NYSE:TWI) last announced its earnings results on Thursday, August 3rd. The industrial products company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.18. The company had revenue of $364.40 million for the quarter, compared to analysts’ expectations of $352.13 million. Titan International had a negative return on equity of 10.79% and a negative net margin of 3.23%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business earned ($0.04) EPS. Analysts forecast that Titan International, Inc. will post ($0.26) earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, June 28th. Titan International’s dividend payout ratio (DPR) is presently -2.44%.

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A number of equities analysts recently commented on the stock. BidaskClub raised shares of Titan International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. TheStreet raised shares of Titan International from a “d+” rating to a “c-” rating in a research note on Friday, June 30th. Zacks Investment Research raised shares of Titan International from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Friday, June 30th. Jefferies Group LLC reaffirmed an “underperform” rating and set a $14.00 price target (up from $11.50) on shares of Titan International in a research note on Friday, April 14th. Finally, Sidoti raised shares of Titan International from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Titan International presently has an average rating of “Hold” and a consensus target price of $14.00.

Titan International Company 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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Institutional Ownership by Quarter for Titan International (NYSE:TWI)

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