Royce & Associates LP Continues to Hold Stake in Titan International, Inc. (TWI)

Royce & Associates LP continued to hold its stake in shares of Titan International, Inc. (NYSE:TWI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 428,700 shares of the industrial products company’s stock at the end of the first quarter. Royce & Associates LP’s holdings in Titan International were worth $4,433,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Allianz Asset Management AG bought a new stake in shares of Titan International during the fourth quarter valued at about $12,321,000. Dimensional Fund Advisors LP increased its position in shares of Titan International by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,281,067 shares of the industrial products company’s stock worth $36,781,000 after buying an additional 527,385 shares during the period. FMR LLC acquired a new position in shares of Titan International during the fourth quarter worth about $3,443,000. Hennessy Advisors Inc. acquired a new position in shares of Titan International during the first quarter worth about $3,071,000. Finally, Renaissance Technologies LLC increased its position in shares of Titan International by 8.0% in the fourth quarter. Renaissance Technologies LLC now owns 2,606,000 shares of the industrial products company’s stock worth $29,213,000 after buying an additional 193,200 shares during the period. Institutional investors and hedge funds own 85.17% of the company’s stock.

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

Titan International, Inc. (TWI) traded up 0.69% during trading on Thursday, reaching $11.74. The company had a trading volume of 42,720 shares. Titan International, Inc. has a one year low of $5.79 and a one year high of $14.23. The firm’s 50 day moving average is $10.98 and its 200 day moving average is $11.31. The company’s market capitalization is $700.37 million.

Titan International (NYSE:TWI) last announced its quarterly earnings data on Thursday, May 4th. The industrial products company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by $0.09. Titan International had a negative return on equity of 11.22% and a negative net margin of 3.12%. The firm had revenue of $357.50 million during the quarter, compared to the consensus estimate of $332.14 million. During the same period last year, the company earned ($0.33) EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Titan International, Inc. will post ($0.07) earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a $0.005 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.02 annualized dividend and a yield of 0.17%. Titan International’s dividend payout ratio (DPR) is currently -2.78%.

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A number of research analysts have issued reports on TWI shares. Zacks Investment Research upgraded Titan International from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Saturday, March 11th. Feltl & Co. restated a “buy” rating on shares of Titan International in a research note on Thursday, March 16th. Jefferies Group LLC reaffirmed an “underperform” rating and set a $14.00 price target (up previously from $11.50) on shares of Titan International in a research report on Friday, April 14th. Finally, Sidoti raised Titan International from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $14.33.

About Titan International

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TWI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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