Titan International, Inc. (TWI) Position Increased by Franklin Resources Inc.
Franklin Resources Inc. boosted its holdings in shares of Titan International, Inc. (NYSE:TWI) by 70.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,157,500 shares of the industrial products company’s stock after purchasing an additional 1,303,200 shares during the quarter. Franklin Resources Inc. owned about 5.29% of Titan International worth $37,922,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. State of Tennessee Treasury Department boosted its stake in Titan International by 11.1% during the 2nd quarter. State of Tennessee Treasury Department now owns 45,550 shares of the industrial products company’s stock valued at $547,000 after purchasing an additional 4,540 shares during the period. Westpac Banking Corp bought a new stake in Titan International during the 2nd quarter valued at approximately $152,000. IndexIQ Advisors LLC boosted its stake in Titan International by 0.6% during the 2nd quarter. IndexIQ Advisors LLC now owns 11,723 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 66 shares during the period. Victory Capital Management Inc. boosted its stake in Titan International by 1.1% during the 2nd quarter. Victory Capital Management Inc. now owns 117,366 shares of the industrial products company’s stock valued at $1,410,000 after purchasing an additional 1,260 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in Titan International by 28.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 19,442 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 4,323 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.
Several analysts recently weighed in on the company. ValuEngine downgraded Titan International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Zacks Investment Research downgraded Titan International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. BidaskClub upgraded Titan International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, TheStreet upgraded Titan International from a “d+” rating to a “c-” rating in a research note on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.00.
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Titan International, Inc. (NYSE TWI) opened at 9.86 on Friday. Titan International, Inc. has a 12-month low of $7.97 and a 12-month high of $14.23. The firm’s market cap is $588.64 million. The firm has a 50-day moving average price of $9.50 and a 200 day moving average price of $10.75.
Titan International (NYSE:TWI) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). Titan International had a negative return on equity of 10.79% and a negative net margin of 3.23%. The firm had revenue of $364.40 million for the quarter, compared to the consensus estimate of $352.13 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The company’s revenue was up 10.4% on a year-over-year basis. Equities research analysts forecast that Titan International, Inc. will post ($0.26) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend is Thursday, September 28th. Titan International’s dividend payout ratio is presently -2.44%.
Titan International Company Profile
Titan International, Inc is a wheel, tire, and undercarriage industrial manufacturer and supplier. The Company’s segments are agricultural, earthmoving/construction, and consumer. The Company produces a range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.
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