Municipal Employees Retirement System of Michigan lowered its stake in shares of Titan International Inc (NYSE:TWI) by 65.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,650 shares of the industrial products company’s stock after selling 28,330 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Titan International were worth $40,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quantamental Technologies LLC purchased a new stake in Titan International in the second quarter valued at $30,000. Commonwealth Equity Services LLC purchased a new stake in Titan International in the second quarter valued at $59,000. Spears Abacus Advisors LLC purchased a new stake in Titan International in the second quarter valued at $62,000. Strs Ohio raised its position in Titan International by 165.2% in the second quarter. Strs Ohio now owns 17,500 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 10,900 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in Titan International by 99.4% in the second quarter. Cubist Systematic Strategies LLC now owns 18,212 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 9,077 shares during the period. 84.25% of the stock is currently owned by institutional investors.
NYSE:TWI opened at $2.88 on Thursday. Titan International Inc has a 52 week low of $2.25 and a 52 week high of $7.78. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 2.00. The stock’s fifty day moving average is $2.76 and its two-hundred day moving average is $3.85.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.005 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.02 dividend on an annualized basis and a yield of 0.69%. Titan International’s dividend payout ratio is currently 7.41%.
TWI has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Titan International from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. ValuEngine upgraded Titan International from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, TheStreet downgraded Titan International from a “c-” rating to a “d+” rating in a research report on Friday, August 2nd.
In other news, Director Maurice M. Taylor, Jr. acquired 18,570 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average price of $2.97 per share, for a total transaction of $55,152.90. Following the acquisition, the director now owns 702,889 shares of the company’s stock, valued at $2,087,580.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Maurice M. Taylor, Jr. acquired 139,214 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $3.04 per share, for a total transaction of $423,210.56. Following the acquisition, the director now directly owns 619,477 shares in the company, valued at approximately $1,883,210.08. The disclosure for this purchase can be found here. Insiders acquired 171,589 shares of company stock worth $520,055 in the last 90 days. Company insiders own 17.80% of the company’s stock.
Titan International Company Profile
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
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