Titan International Inc (NYSE:TWI) declared a quarterly dividend on Monday, September 10th, Wall Street Journal reports. Shareholders of record on Friday, September 28th will be paid a dividend of 0.005 per share by the industrial products company on Monday, October 15th. This represents a $0.02 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, September 27th.

Titan International has a payout ratio of 8.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Titan International to earn $0.45 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 4.4%.

Shares of TWI stock opened at $7.64 on Wednesday. Titan International has a 12 month low of $6.71 and a 12 month high of $14.53. The company has a current ratio of 2.05, a quick ratio of 1.14 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $467.80 million, a price-to-earnings ratio of -15.59 and a beta of 1.47.

Titan International (NYSE:TWI) last issued its earnings results on Friday, August 3rd. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). The company had revenue of $428.90 million during the quarter, compared to analyst estimates of $427.32 million. Titan International had a negative net margin of 1.47% and a positive return on equity of 3.38%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) EPS. sell-side analysts forecast that Titan International will post 0.23 EPS for the current fiscal year.

A number of brokerages have recently issued reports on TWI. ValuEngine upgraded shares of Titan International from a “strong sell” rating to a “sell” rating in a research note on Friday, August 24th. Jefferies Financial Group cut their target price on shares of Titan International from $12.00 to $8.50 and set a “hold” rating on the stock in a research note on Tuesday, August 7th. William Blair lowered shares of Titan International from an “outperform” rating to a “market perform” rating and set a $21.00 target price on the stock. in a research note on Friday, August 3rd. Zacks Investment Research lowered shares of Titan International from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 9th. Finally, TheStreet lowered shares of Titan International from a “c” rating to a “d+” rating in a research note on Thursday, August 23rd. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Titan International presently has an average rating of “Hold” and an average price target of $14.50.

In other Titan International news, Director Maurice M. Taylor, Jr. acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The shares were purchased at an average price of $7.20 per share, for a total transaction of $720,000.00. Following the completion of the purchase, the director now directly owns 549,870 shares in the company, valued at $3,959,064. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David A. Martin acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were acquired at an average price of $7.21 per share, for a total transaction of $144,200.00. The disclosure for this purchase can be found here. 17.30% of the stock is owned by corporate insiders.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally. It operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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Dividend History for Titan International (NYSE:TWI)

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