Titan America (NYSE:TTAM) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Titan America (NYSE:TTAM) from a buy rating to a hold rating in a research note released on Monday morning.

Other analysts also recently issued reports about the company. Jefferies Financial Group increased their price objective on Titan America from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 15th. Citigroup lowered their target price on Titan America from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Finally, Sanford C. Bernstein raised their target price on Titan America from $15.00 to $17.00 and gave the stock a “market perform” rating in a research report on Friday, December 19th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Titan America has a consensus rating of “Hold” and an average target price of $17.00.

Titan America Stock Down 2.5%

Shares of NYSE:TTAM opened at $16.04 on Monday. The company has a fifty day moving average of $16.64 and a 200-day moving average of $16.30. The company has a market capitalization of $2.96 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.91 and a current ratio of 3.03. Titan America has a 52-week low of $11.75 and a 52-week high of $19.42.

Titan America (NYSE:TTAM) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $405.66 million during the quarter. Titan America had a net margin of 11.14% and a return on equity of 19.07%.

Titan America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Monday, April 20th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, April 20th. Titan America’s dividend payout ratio is 15.69%.

Insider Activity

In related news, CFO Lawrence Hugh Jr. Wilt acquired 20,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were bought at an average price of $14.93 per share, with a total value of $298,600.00. Following the transaction, the chief financial officer directly owned 20,000 shares of the company’s stock, valued at $298,600. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Titan America

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. River Road Asset Management LLC boosted its position in shares of Titan America by 3.5% during the 4th quarter. River Road Asset Management LLC now owns 3,856,334 shares of the company’s stock worth $63,552,000 after purchasing an additional 128,624 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Titan America by 7.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,417,804 shares of the company’s stock worth $56,325,000 after acquiring an additional 230,943 shares during the last quarter. Voss Capital LP raised its holdings in shares of Titan America by 51.6% in the 4th quarter. Voss Capital LP now owns 2,600,000 shares of the company’s stock worth $42,848,000 after acquiring an additional 885,000 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Titan America by 0.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,424,738 shares of the company’s stock worth $35,886,000 after acquiring an additional 18,448 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Titan America in the 1st quarter worth about $9,188,000.

About Titan America

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).