California Public Employees Retirement System grew its position in shares of Titan International Inc (NYSE:TWI) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 153,500 shares of the industrial products company’s stock after buying an additional 8,400 shares during the quarter. California Public Employees Retirement System’s holdings in Titan International were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quantamental Technologies LLC purchased a new position in Titan International in the 2nd quarter worth approximately $30,000. Commonwealth Equity Services LLC purchased a new position in shares of Titan International during the second quarter valued at approximately $59,000. Spears Abacus Advisors LLC purchased a new position in shares of Titan International during the second quarter valued at approximately $62,000. Strs Ohio raised its holdings in shares of Titan International by 165.2% during 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 last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in Titan International by 99.4% during 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. 83.57% of the stock is owned by institutional investors.
Shares of TWI stock opened at $2.73 on Friday. Titan International Inc has a 12-month low of $2.25 and a 12-month high of $7.25. The company has a current ratio of 2.00, a quick ratio of 1.04 and a debt-to-equity ratio of 1.87. The firm’s 50 day moving average is $2.89 and its 200 day moving average is $3.39. The stock has a market capitalization of $166.40 million, a P/E ratio of 10.11 and a beta of 2.20.
Titan International (NYSE:TWI) last announced its earnings results on Thursday, November 7th. The industrial products company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). The company had revenue of $345.90 million for the quarter, compared to analysts’ expectations of $369.33 million. Titan International had a negative net margin of 2.53% and a negative return on equity of 12.51%. Titan International’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share. As a group, equities analysts predict that Titan International Inc will post -0.45 earnings per share for the current year.
Titan International 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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