Algert Global LLC purchased a new stake in shares of Titan International Inc. (NYSE:TWI) during the third quarter, Holdings Channel reports. The firm purchased 23,066 shares of the company’s stock, valued at approximately $233,000.
Several other large investors have also added to or reduced their stakes in TWI. Cortina Asset Management LLC acquired a new stake in Titan International during the second quarter valued at approximately $4,036,000. State of New Jersey Common Pension Fund D acquired a new stake in Titan International during the second quarter valued at approximately $3,844,000. Vanguard Group Inc. raised its stake in Titan International by 10.7% in the second quarter. Vanguard Group Inc. now owns 2,584,899 shares of the company’s stock valued at $16,027,000 after buying an additional 249,015 shares during the last quarter. Millrace Asset Group Inc. acquired a new stake in Titan International during the second quarter valued at approximately $961,000. Finally, BlackRock Fund Advisors raised its stake in Titan International by 4.7% in the second quarter. BlackRock Fund Advisors now owns 2,953,421 shares of the company’s stock valued at $18,311,000 after buying an additional 133,183 shares during the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.
Titan International Inc. (NYSE:TWI) traded down 0.08% during midday trading on Friday, reaching $11.85. 81,003 shares of the company traded hands. The stock’s market capitalization is $640.56 million. Titan International Inc. has a 1-year low of $2.50 and a 1-year high of $12.10. The firm has a 50-day moving average of $10.68 and a 200-day moving average of $8.41.
Titan International (NYSE:TWI) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.13) by $0.05. The business earned $306.20 million during the quarter, compared to analyst estimates of $301.25 million. Titan International had a negative return on equity of 12.49% and a negative net margin of 6.86%. Titan International’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.13) EPS. On average, analysts predict that Titan International Inc. will post ($0.48) earnings per share for the current year.
Several equities research analysts have recently commented on TWI shares. Zacks Investment Research raised shares of Titan International from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Thursday, October 6th. Jefferies Group increased their target price on shares of Titan International from $8.00 to $11.50 and gave the stock a “hold” rating in a report on Tuesday, October 11th.
Titan International Company Profile
Titan International, Inc is a manufacturer of wheels, tires and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates through three segments: agricultural, earthmoving/construction and consumer. The Company’s agricultural market includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment.