Titan International Inc. (TWI) Trading Down 3.9%
Titan International Inc. (NYSE:TWI)’s share price traded down 3.9% during trading on Tuesday . The company traded as low as $6.56 and last traded at $6.67, with a volume of 243,369 shares trading hands. The stock had previously closed at $6.94.
Separately, Zacks Investment Research raised Titan International from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $8.73.
The company’s market capitalization is $358.45 million. The stock’s 50 day moving average is $6.58 and its 200-day moving average is $5.32.
Titan International (NYSE:TWI) last released its quarterly earnings data 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. During the same period in the prior year, the firm earned $0.01 EPS. The business earned $321.80 million during the quarter, compared to analyst estimates of $354.11 million. The business’s revenue was down 20.0% on a year-over-year basis. On average, equities research analysts predict that Titan International Inc. will post ($0.56) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.005 per share. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.30%.
Several institutional investors have made changes to their positions in the stock. Pekin Singer Strauss Asset Management IL raised its position in shares of 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 in the last quarter. 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 valued at $9,530,000 after buying an additional 9,035 shares in the last quarter. Finally, 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 valued at $1,721,000 after buying an additional 258,100 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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