Renaissance Technologies LLC Raises Stake in Titan International, Inc. $TWI

Renaissance Technologies LLC increased its position in Titan International, Inc. (NYSE:TWI) by 10.5% in the first quarter, Holdings Channel.com reports. The fund owned 2,477,119 shares of the industrial products company’s stock after acquiring an additional 235,632 shares during the quarter. Renaissance Technologies LLC’s holdings in Titan International were worth $17,117,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP purchased a new stake in Titan International in the 3rd quarter worth approximately $27,000. Russell Investments Group Ltd. grew its position in shares of Titan International by 22,000.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,199 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 4,180 shares in the last quarter. State of Wyoming grew its position in shares of Titan International by 45.2% during the 1st quarter. State of Wyoming now owns 4,758 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 1,482 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Titan International in the second quarter worth $46,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Titan International by 191.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,189 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 3,410 shares during the period. Institutional investors own 80.39% of the company’s stock.

Titan International Stock Performance

NYSE TWI opened at $7.32 on Friday. The company has a 50-day simple moving average of $7.53 and a two-hundred day simple moving average of $8.25. Titan International, Inc. has a 12-month low of $6.43 and a 12-month high of $11.70. The firm has a market cap of $471.14 million, a price-to-earnings ratio of -5.34 and a beta of 1.45. The company has a quick ratio of 1.22, a current ratio of 2.19 and a debt-to-equity ratio of 1.15.

Titan International (NYSE:TWI) last released its earnings results on Thursday, July 30th. The industrial products company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.14. The company had revenue of $484.77 million during the quarter, compared to analyst estimates of $480.06 million. Titan International had a negative return on equity of 3.00% and a negative net margin of 4.72%. On average, equities analysts forecast that Titan International, Inc. will post -0.13 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on TWI shares. Weiss Ratings restated a “sell (d-)” rating on shares of Titan International in a research note on Monday, July 20th. DA Davidson reiterated a “buy” rating and set a $13.00 price target on shares of Titan International in a research report on Friday, June 12th. Finally, Wall Street Zen raised Titan International from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.00.

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.