Titan America (NYSE:TTAM) Reaches New 52-Week Low – Here’s What Happened

Titan America SA (NYSE:TTAM) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $13.76 and last traded at $13.7670, with a volume of 231310 shares trading hands. The stock had previously closed at $14.06.

Wall Street Analysts Forecast Growth

TTAM has been the subject of several research analyst reports. Stifel Nicolaus upped their price objective on shares of Titan America from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, July 29th. Zacks Research upgraded shares of Titan America from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Citigroup upped their price target on shares of Titan America from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings upgraded shares of Titan America from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.30.

Titan America Stock Down 1.6%

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 2.08. The company has a market cap of $2.55 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.92 and a beta of 1.05. The stock has a 50 day moving average price of $15.87 and a 200 day moving average price of $16.20.

Titan America (NYSE:TTAM) last released its earnings results on Tuesday, July 28th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.06). Titan America had a return on equity of 17.03% and a net margin of 10.35%.The firm had revenue of $470.63 million for the quarter. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts expect that Titan America SA will post 1.08 earnings per share for the current fiscal year.

Titan America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.16 annualized dividend and a yield of 1.2%. Titan America’s dividend payout ratio is currently 16.67%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. River Road Asset Management LLC boosted its stake 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 acquiring an additional 128,624 shares in the last quarter. Voss Capital LP lifted its holdings in shares of Titan America by 51.6% during the fourth quarter. Voss Capital LP now owns 2,600,000 shares of the company’s stock valued at $42,848,000 after purchasing an additional 885,000 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Titan America during the second quarter valued at $7,623,000. Diamond Hill Capital Management Inc. boosted its position in shares of Titan America by 46.0% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 293,928 shares of the company’s stock valued at $4,844,000 after purchasing an additional 92,633 shares during the period. Finally, Ancora Advisors LLC increased its stake in Titan America by 0.6% in the 2nd quarter. Ancora Advisors LLC now owns 161,220 shares of the company’s stock worth $3,008,000 after purchasing an additional 1,020 shares in the last quarter.

Titan America Company Profile

Titan America is a building materials company that produces and supplies cement, ready-mix concrete, aggregates and other products used in residential, commercial and infrastructure construction. Its portfolio also includes concrete blocks and related construction materials, as well as supplementary cementitious materials that can be used in concrete production.

The company serves customers across the eastern United States through a network of cement plants, terminals, quarries, ready-mix concrete facilities and other distribution assets.