Titan International Inc. (TWI) Trading Down 6.1%
Titan International Inc. (NYSE:TWI)’s share price dropped 6.1% during mid-day trading on Tuesday . The company traded as low as $5.98 and last traded at $6.03, with a volume of 143,524 shares changing hands. The stock had previously closed at $6.42.
Separately, Zacks Investment Research raised Titan International from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a research report on Wednesday, April 27th. Three analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $8.73.
The stock’s 50 day moving average is $6.42 and its 200-day moving average is $5.16. The stock’s market cap is $330.38 million.
Titan International (NYSE:TWI) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.09. The firm earned $321.80 million during the quarter, compared to the consensus estimate of $354.11 million. Titan International’s quarterly revenue was down 20.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 earnings per share. On average, equities research analysts predict that Titan International Inc. will post ($0.55) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Tuesday, June 28th.
Several large investors have recently bought and sold shares of the company. Pekin Singer Strauss Asset Management IL increased its stake in Titan International by 96.4% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 2,045,481 shares of the company’s stock worth $8,059,000 after buying an additional 1,003,785 shares during the period. South Dakota Investment Council raised its position in shares of Titan International by 144.4% in the fourth quarter. South Dakota Investment Council now owns 436,900 shares of the company’s stock worth $1,721,000 after buying an additional 258,100 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Titan International by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 286,974 shares of the company’s stock worth $1,131,000 after buying an additional 12,732 shares in the last quarter. Finally, Fishman Jay A Ltd. MI raised its position in shares of Titan International by 0.4% in the fourth quarter. Fishman Jay A Ltd. MI now owns 2,418,762 shares of the company’s stock worth $9,530,000 after buying an additional 9,035 shares in the last quarter.
Titan International, Inc together with its subsidiaries manufactures wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates in three segments: agricultural, earthmoving/construction and consumer.
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