Titan International, Inc. (TWI) Shares Bought by Citigroup Inc.

Citigroup Inc. boosted its stake in shares of Titan International, Inc. (NYSE:TWI) by 33.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,229 shares of the industrial products company’s stock after buying an additional 18,651 shares during the quarter. Citigroup Inc. owned 0.12% of Titan International worth $891,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its stake in Titan International by 94.8% during the second quarter. State of Alaska Department of Revenue now owns 9,447 shares of the industrial products company’s stock worth $113,000 after buying an additional 4,597 shares during the period. Mason Street Advisors LLC boosted its stake in Titan International by 17.7% during the first quarter. Mason Street Advisors LLC now owns 11,264 shares of the industrial products company’s stock worth $116,000 after buying an additional 1,696 shares during the period. Stifel Financial Corp boosted its stake in Titan International by 0.9% during 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 period. IndexIQ Advisors LLC boosted its stake in Titan International by 0.6% during the second quarter. IndexIQ Advisors LLC now owns 11,723 shares of the industrial products company’s stock worth $141,000 after buying an additional 66 shares during the period. Finally, Westpac Banking Corp purchased a new position in Titan International during the second quarter worth about $152,000. 86.09% of the stock is owned by institutional investors.

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TWI has been the subject of several research analyst reports. BidaskClub raised shares of Titan International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. ValuEngine cut shares of Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Zacks Investment Research cut shares of Titan International from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. TheStreet raised shares of Titan International from a “d+” rating to a “c-” rating in a research report on Friday, June 30th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $10.50 price target on shares of Titan International in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Titan International has a consensus rating of “Hold” and an average price target of $12.75.

Shares of Titan International, Inc. (TWI) opened at 9.90 on Friday. Titan International, Inc. has a 12 month low of $7.97 and a 12 month high of $14.23. The stock’s 50 day moving average is $9.35 and its 200 day moving average is $10.53. The firm’s market cap is $591.03 million.

Titan International (NYSE:TWI) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.18). The company had revenue of $364.40 million during 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 firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) EPS. On average, analysts anticipate that Titan International, Inc. will post ($0.53) earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Thursday, September 28th. Titan International’s dividend payout ratio is presently -2.44%.

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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