OppenheimerFunds Inc. raised its stake in shares of Titan International, Inc. (NYSE:TWI) by 24.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,110 shares of the industrial products company’s stock after buying an additional 17,165 shares during the period. OppenheimerFunds Inc. owned approximately 0.15% of Titan International worth $900,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in TWI. Stifel Financial Corp boosted its position in shares of Titan International by 0.9% in the first quarter. Stifel Financial Corp now owns 11,363 shares of the industrial products company’s stock worth $119,000 after buying an additional 104 shares during the last quarter. Arizona State Retirement System boosted its stake in Titan International by 1.3% in the first quarter. Arizona State Retirement System now owns 22,831 shares of the industrial products company’s stock worth $236,000 after buying an additional 300 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Titan International by 5.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,480 shares of the industrial products company’s stock worth $263,000 after buying an additional 1,150 shares in the last quarter. Numeric Investors LLC boosted its stake in Titan International by 3.9% in the fourth quarter. Numeric Investors LLC now owns 35,858 shares of the industrial products company’s stock valued at $402,000 after buying an additional 1,358 shares during the period. Finally, Mason Street Advisors LLC boosted its stake in Titan International by 17.7% in the first quarter. Mason Street Advisors LLC now owns 11,264 shares of the industrial products company’s stock valued at $116,000 after buying an additional 1,696 shares during the period. Institutional investors own 85.16% of the company’s stock.
Shares of Titan International, Inc. (NYSE TWI) traded down 1.20% on Monday, hitting $12.35. 192,141 shares of the stock traded hands. The stock has a 50-day moving average price of $11.17 and a 200 day moving average price of $11.32. The firm’s market cap is $736.76 million. Titan International, Inc. has a 52 week low of $5.98 and a 52 week high of $14.23.
Titan International (NYSE:TWI) last posted its quarterly earnings results on Thursday, May 4th. The industrial products company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.09. The company had revenue of $357.50 million during the quarter, compared to analysts’ expectations of $332.14 million. Titan International had a negative return on equity of 11.22% and a negative net margin of 3.12%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.33) EPS. Equities research analysts predict that Titan International, Inc. will post ($0.07) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Wednesday, June 28th. Titan International’s dividend payout ratio (DPR) is -2.78%.
A number of analysts have recently commented on TWI shares. Zacks Investment Research upgraded Titan International from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Friday, June 30th. TheStreet raised Titan International from a “d+” rating to a “c-” rating in a research report on Friday, June 30th. Sidoti raised Titan International from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 18th. Finally, Jefferies Group LLC restated an “underperform” rating and set a $14.00 price objective (up previously from $11.50) on shares of Titan International in a report on Friday, April 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average 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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