Titan America (NYSE:TTAM) Reaches New 52-Week High – Still a Buy?

Titan America SA (NYSE:TTAM)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $19.46 and last traded at $19.50, with a volume of 32827 shares changing hands. The stock had previously closed at $18.77.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TTAM. Zacks Research upgraded Titan America from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 21st. Wall Street Zen downgraded shares of Titan America from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Citigroup boosted their price target on shares of Titan America from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, HSBC cut shares of Titan America from a “buy” rating to a “hold” rating and set a $18.50 price objective for the company. in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.42.

Titan America Trading Up 1.8%

The company has a market cap of $3.52 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15. The company’s fifty day moving average price is $16.39 and its two-hundred day moving average price is $16.69. The company has a quick ratio of 1.96, a current ratio of 2.99 and a debt-to-equity ratio of 0.41.

Titan America (NYSE:TTAM) last announced its earnings results on Tuesday, May 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $398.42 million during the quarter. Titan America had a return on equity of 18.35% and a net margin of 11.08%.Titan America’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Research analysts expect that Titan America SA will post 1.09 earnings per share for the current year.

Titan America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.16 dividend on an annualized basis and a yield of 0.8%. Titan America’s payout ratio is currently 15.84%.

Institutional Trading of Titan America

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new position in Titan America during the 1st quarter worth about $1,452,000. ABS Direct Equity Fund LLC acquired a new stake in Titan America in the 1st quarter valued at about $449,000. Renaissance Technologies LLC bought a new position in shares of Titan America in the first quarter worth about $1,489,000. Public Employees Retirement System of Ohio acquired a new position in shares of Titan America during the first quarter worth approximately $375,000. Finally, Sei Investments Co. lifted its position in shares of Titan America by 23.2% during the first quarter. Sei Investments Co. now owns 131,242 shares of the company’s stock worth $1,965,000 after purchasing an additional 24,672 shares in the last quarter.

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”).