Titan International (NYSE:TWI) Major Shareholder Sells $27,219,527.60 in Stock

Titan International, Inc. (NYSE:TWI) major shareholder Aipct Holdings Llc sold 3,041,288 shares of Titan International stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $8.95, for a total transaction of $27,219,527.60. Following the transaction, the insider directly owned 8,880,478 shares in the company, valued at approximately $79,480,278.10. The trade was a 25.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Titan International Trading Down 2.4%

Shares of TWI stock traded down $0.21 on Friday, hitting $8.68. 986,531 shares of the stock traded hands, compared to its average volume of 594,684. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.20 and a current ratio of 2.30. The stock has a market capitalization of $555.69 million, a PE ratio of -8.68 and a beta of 1.47. The firm’s 50-day moving average price is $9.51 and its two-hundred day moving average price is $8.56. Titan International, Inc. has a twelve month low of $5.93 and a twelve month high of $11.70.

Titan International (NYSE:TWI) last posted its earnings results on Thursday, February 26th. The industrial products company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). The firm had revenue of $410.44 million for the quarter, compared to analyst estimates of $396.86 million. Titan International had a negative return on equity of 2.82% and a negative net margin of 3.47%. As a group, analysts anticipate that Titan International, Inc. will post 0.03 EPS for the current year.

Institutional Trading of Titan International

A number of large investors have recently made changes to their positions in TWI. Quarry LP acquired a new stake in shares of Titan International in the third quarter valued at $27,000. Federated Hermes Inc. acquired a new stake in Titan International in the third quarter valued at $31,000. Byrne Asset Management LLC acquired a new position in Titan International during the third quarter worth $32,000. Russell Investments Group Ltd. raised its position in Titan International by 22,000.0% during the third quarter. Russell Investments Group Ltd. now owns 4,199 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 4,180 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Titan International during the 3rd quarter worth about $36,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TWI. Weiss Ratings restated a “sell (e+)” rating on shares of Titan International in a report on Monday, December 29th. Wall Street Zen upgraded Titan International from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, DA Davidson set a $13.00 price target on Titan International in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.67.

About Titan International

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan’s product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.