Victory Capital Management Inc. Trims Holdings in Titan America SA $TTAM

Victory Capital Management Inc. lowered its position in shares of Titan America SA (NYSE:TTAM) by 5.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,186,861 shares of the company’s stock after selling 188,297 shares during the quarter. Victory Capital Management Inc. owned 1.73% of Titan America worth $47,612,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of Titan America in the third quarter worth $242,000. Intech Investment Management LLC lifted its stake in shares of Titan America by 7.1% during the 3rd quarter. Intech Investment Management LLC now owns 13,622 shares of the company’s stock valued at $204,000 after buying an additional 898 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Titan America by 152.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 25,203 shares of the company’s stock worth $377,000 after buying an additional 15,203 shares during the period. Rhumbline Advisers increased its stake in Titan America by 3.0% in the 3rd quarter. Rhumbline Advisers now owns 24,073 shares of the company’s stock worth $360,000 after buying an additional 691 shares in the last quarter. Finally, Keybank National Association OH increased its stake in Titan America by 16.2% in the 3rd quarter. Keybank National Association OH now owns 17,900 shares of the company’s stock worth $267,000 after buying an additional 2,500 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on TTAM shares. Wall Street Zen upgraded Titan America from a “hold” rating to a “buy” rating in a research report on Saturday, November 29th. Jefferies Financial Group increased their target price on Titan America from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Citigroup lifted their target price on Titan America from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Finally, Sanford C. Bernstein upped their price target on Titan America from $15.00 to $17.00 and gave the stock a “market perform” rating in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.36.

Titan America Stock Down 3.3%

Shares of TTAM stock opened at $16.05 on Friday. The company’s fifty day simple moving average is $17.69 and its two-hundred day simple moving average is $16.29. Titan America SA has a 52 week low of $10.80 and a 52 week high of $19.42. The stock has a market cap of $2.96 billion and a P/E ratio of 16.21. The company has a quick ratio of 1.87, a current ratio of 2.95 and a debt-to-equity ratio of 0.45.

Titan America Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, December 29th. Investors of record on Wednesday, December 17th were given a $0.04 dividend. The ex-dividend date was Wednesday, December 17th. Titan America’s payout ratio is currently 16.16%.

Titan America Profile

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).