Titan International Inc. (TWI) Trading Up 5.6%
Titan International Inc. (NYSE:TWI)’s share price was up 5.6% during mid-day trading on Friday . The stock traded as high as $6.45 and last traded at $6.44, with a volume of 246,096 shares changing hands. The stock had previously closed at $6.10.
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 issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $8.73.
The company’s market cap is $347.66 million. The firm has a 50 day moving average of $6.44 and a 200 day moving average of $5.19.
Titan International (NYSE:TWI) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.09. The business had revenue of $321.80 million for the quarter, compared to analyst estimates of $354.11 million. The firm’s quarterly revenue was down 20.0% on a year-over-year basis. During the same period last year, the business posted $0.01 EPS. On average, analysts anticipate that Titan International Inc. will post ($0.55) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a $0.005 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.31%.
Several institutional investors have bought and sold shares of TWI. Pekin Singer Strauss Asset Management IL increased its position 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 valued at $8,059,000 after buying an additional 1,003,785 shares during the period. South Dakota Investment Council boosted its stake in Titan International by 144.4% in the fourth quarter. South Dakota Investment Council now owns 436,900 shares of the company’s stock valued at $1,721,000 after buying an additional 258,100 shares during the period. Principal Financial Group Inc. boosted its stake in Titan International by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 286,974 shares of the company’s stock valued at $1,131,000 after buying an additional 12,732 shares during the period. Finally, Fishman Jay A Ltd. MI boosted its stake in 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 valued at $9,530,000 after buying an additional 9,035 shares during the period.
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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