Titan America (NYSE:TTAM) Shares Gap Up – Time to Buy?

Titan America SA (NYSE:TTAM) shares gapped up prior to trading on Friday . The stock had previously closed at $15.67, but opened at $16.71. Titan America shares last traded at $16.7450, with a volume of 4,131 shares changing hands.

Analyst Ratings Changes

A number of brokerages have weighed in on TTAM. Zacks Research raised shares of Titan America from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 21st. Wall Street Zen lowered shares of Titan America from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Citigroup boosted their price objective on shares of Titan America from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, HSBC lowered shares of Titan America from a “buy” rating to a “hold” rating and set a $18.50 price objective on the stock. in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.42.

Titan America Stock Performance

The stock’s 50-day moving average price is $15.99 and its 200 day moving average price is $16.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.99 and a quick ratio of 1.96. The firm has a market cap of $3.11 billion, a P/E ratio of 16.71, a price-to-earnings-growth ratio of 1.00 and a beta of 1.15.

Titan America (NYSE:TTAM) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $398.42 million during the quarter. Titan America had a return on equity of 18.35% and a net margin of 11.08%.The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, equities analysts predict that Titan America SA will post 1.09 EPS for the current year.

Titan America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, June 18th. Titan America’s dividend payout ratio is 15.84%.

Insider Transactions at Titan America

In other news, CFO Lawrence Hugh Jr. Wilt purchased 20,000 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were purchased at an average cost of $14.93 per share, with a total value of $298,600.00. Following the completion of the transaction, the chief financial officer owned 20,000 shares of the company’s stock, valued at $298,600. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of Titan America

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTAM. Voss Capital LP raised its position in 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 acquiring an additional 885,000 shares in the last quarter. Millennium Management LLC bought a new stake in Titan America during the first quarter worth $9,188,000. Invesco Ltd. raised its position in Titan America by 3,319.8% during the fourth quarter. Invesco Ltd. now owns 515,426 shares of the company’s stock worth $8,494,000 after acquiring an additional 500,354 shares in the last quarter. Geode Capital Management LLC bought a new stake in Titan America during the second quarter worth $3,591,000. Finally, Victory Capital Management Inc. raised its position in shares of Titan America by 7.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,417,804 shares of the company’s stock valued at $56,325,000 after purchasing an additional 230,943 shares during the period.

Titan America Company 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”).