Titan International Inc. (TWI) Sees Strong Trading Volume
Titan International Inc. (NYSE:TWI) saw strong trading volume on Wednesday . 335,111 shares were traded during mid-day trading, a decline of 21% from the previous session’s volume of 423,333 shares.The stock last traded at $6.81 and had previously closed at $6.82.
Separately, Zacks Investment Research upgraded Titan International from a “sell” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $8.73.
The firm’s 50-day moving average price is $6.51 and its 200 day moving average price is $5.25. The stock’s market capitalization is $373.03 million.
Titan International (NYSE:TWI) last issued its earnings results on Thursday, May 5th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.08) by $0.09. During the same period last year, the firm posted $0.01 EPS. The firm earned $321.80 million during the quarter, compared to the consensus estimate of $354.11 million. The company’s quarterly revenue was down 20.0% on a year-over-year basis. On average, equities analysts forecast that Titan International Inc. will post ($0.55) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $0.005 per share. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $0.02 dividend on an annualized basis and a yield of 0.29%.
A number of hedge funds and institutional investors recently added to or reduced their stakes in TWI. South Dakota Investment Council raised its position in 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. Pekin Singer Strauss Asset Management IL raised 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 worth $8,059,000 after buying an additional 1,003,785 shares in the last quarter. Finally, Fishman Jay A Ltd. MI raised its position 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 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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