350,000 Shares in Titan International Inc. (TWI) Acquired by Heartland Advisors Inc.
Heartland Advisors Inc. purchased a new stake in Titan International Inc. (NYSE:TWI) during the third quarter, Holdings Channel reports. The firm purchased 350,000 shares of the company’s stock, valued at approximately $3,542,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its position in Titan International by 4.7% in the second quarter. BlackRock Fund Advisors now owns 2,953,421 shares of the company’s stock worth $18,311,000 after buying an additional 133,183 shares during the period. Fishman Jay A Ltd. MI boosted its stake in Titan International by 4.5% in the second quarter. Fishman Jay A Ltd. MI now owns 2,718,597 shares of the company’s stock worth $16,855,000 after buying an additional 117,750 shares in the last quarter. Vanguard Group Inc. boosted its stake in Titan International by 10.7% in the second quarter. Vanguard Group Inc. now owns 2,584,899 shares of the company’s stock worth $16,027,000 after buying an additional 249,015 shares in the last quarter. Pekin Singer Strauss Asset Management IL boosted its stake in Titan International by 5.4% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 1,533,905 shares of the company’s stock worth $9,510,000 after buying an additional 79,201 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Titan International by 2.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,188,217 shares of the company’s stock worth $7,367,000 after buying an additional 24,140 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.
Titan International Inc. (NYSE:TWI) traded up 1.48% during mid-day trading on Tuesday, hitting $11.62. The stock had a trading volume of 351,051 shares. The stock’s market cap is $628.13 million. The company has a 50 day moving average price of $10.72 and a 200 day moving average price of $8.48. Titan International Inc. has a one year low of $2.50 and a one year high of $12.10.
Titan International (NYSE:TWI) last posted its earnings results on Thursday, November 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.05. The business had revenue of $306.20 million for the quarter, compared to analyst estimates of $301.25 million. Titan International had a negative return on equity of 12.49% and a negative net margin of 6.86%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company posted ($0.13) EPS. On average, equities analysts anticipate that Titan International Inc. will post ($0.48) EPS for the current year.
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A number of analysts have weighed in on TWI shares. Jefferies Group raised their price target on Titan International from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, August 5th. Zacks Investment Research upgraded Titan International from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Thursday, October 6th.
Titan International Company Profile
Titan International, Inc is a manufacturer of wheels, tires and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates through three segments: agricultural, earthmoving/construction and consumer. The Company’s agricultural market includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment.
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