SummerHaven Investment Management LLC Makes New Investment in Titan International, Inc. $TWI

SummerHaven Investment Management LLC acquired a new stake in shares of Titan International, Inc. (NYSE:TWI) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 107,108 shares of the industrial products company’s stock, valued at approximately $726,000.

Several other institutional investors have also added to or reduced their stakes in the stock. State of Wyoming lifted its position in shares of Titan International by 45.2% in the 1st quarter. State of Wyoming now owns 4,758 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 1,482 shares during the period. Legal & General Group Plc bought a new stake in shares of Titan International during the 2nd quarter valued at about $40,000. Public Employees Retirement System of Ohio bought a new stake in shares of Titan International during the 2nd quarter valued at about $65,000. Fifth Third Bancorp boosted its stake in shares of Titan International by 5,151.0% during the 1st quarter. Fifth Third Bancorp now owns 10,187 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 9,993 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Titan International during the second quarter valued at about $97,000. 80.39% of the stock is currently owned by institutional investors.

Titan International Stock Down 1.4%

Shares of NYSE:TWI opened at $6.66 on Friday. The firm has a market capitalization of $429.51 million, a P/E ratio of -5.50 and a beta of 1.43. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.15 and a current ratio of 2.11. The stock has a 50 day moving average price of $7.10 and a 200-day moving average price of $7.44. Titan International, Inc. has a 52-week low of $6.37 and a 52-week high of $11.70.

Titan International (NYSE:TWI) last released its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.15. The company had revenue of $484.77 million for the quarter, compared to analyst estimates of $480.06 million. Titan International had a negative return on equity of 1.56% and a negative net margin of 4.11%. As a group, equities research analysts anticipate that Titan International, Inc. will post -0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Titan International in a research note on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Titan International currently has a consensus rating of “Hold” and a consensus target price of $13.00.

Titan International Company Profile

Titan International, Inc is a manufacturer of wheels, tires and wheel-and-tire assemblies designed primarily for off-highway vehicles. The company serves the agriculture, construction, earthmoving, mining, forestry and powersports markets, supplying products for tractors, combines, sprayers, skid steers, loaders, graders, haulage equipment and other specialized vehicles.

Titan’s product portfolio includes agricultural and industrial tires, earthmoving and construction tires, steel and specialty wheels, and related assemblies.