Citigroup Cuts Titan America (NYSE:TTAM) Price Target to $19.00

Titan America (NYSE:TTAM) had its price target cut by Citigroup from $20.00 to $19.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

TTAM has been the subject of several other research reports. Jefferies Financial Group boosted their price target on Titan America from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 15th. Sanford C. Bernstein raised their price objective 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. Finally, Wall Street Zen upgraded Titan America from a “hold” rating to a “buy” rating in a research note on Saturday, November 29th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.92.

Titan America Stock Down 3.6%

TTAM opened at $14.19 on Thursday. The firm’s 50 day simple moving average is $17.44 and its two-hundred day simple moving average is $16.29. The company has a market capitalization of $2.62 billion and a PE ratio of 13.91. Titan America has a 1-year low of $10.80 and a 1-year high of $19.42. The company has a current ratio of 3.03, a quick ratio of 1.87 and a debt-to-equity ratio of 0.43.

Titan America (NYSE:TTAM) last issued its quarterly earnings data on Tuesday, March 17th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Titan America had a net margin of 11.14% and a return on equity of 19.07%. The firm had revenue of $405.66 million during the quarter. Titan America’s revenue for the quarter was up 4.1% on a year-over-year basis.

Titan America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 20th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, April 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.1%. Titan America’s payout ratio is 15.69%.

Institutional Investors Weigh In On Titan America

Institutional investors have recently bought and sold shares of the business. River Road Asset Management LLC purchased a new position in shares of Titan America in the second quarter valued at about $45,507,000. Voss Capital LP grew its position in shares of Titan America by 51.6% during the fourth quarter. Voss Capital LP now owns 2,600,000 shares of the company’s stock worth $42,848,000 after purchasing an additional 885,000 shares in the last quarter. American Century Companies Inc. grew its position in shares of Titan America by 16.5% during the second quarter. American Century Companies Inc. now owns 5,823,647 shares of the company’s stock worth $72,679,000 after purchasing an additional 823,900 shares in the last quarter. Millennium Management LLC bought a new stake in Titan America during the 1st quarter valued at approximately $9,188,000. Finally, Invesco Ltd. lifted its holdings in Titan America by 3,319.8% in the 4th quarter. Invesco Ltd. now owns 515,426 shares of the company’s stock worth $8,494,000 after purchasing an additional 500,354 shares in the last quarter.

About Titan America

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”).