Lazard Asset Management LLC Invests $1.45 Million in Titan America SA $TTAM

Lazard Asset Management LLC acquired a new stake in Titan America SA (NYSE:TTAM) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 96,930 shares of the company’s stock, valued at approximately $1,452,000.

A number of other institutional investors have also made changes to their positions in TTAM. BNP Paribas Financial Markets acquired a new position in Titan America during the second quarter worth $28,000. Kemnay Advisory Services Inc. acquired a new stake in Titan America in the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd lifted its position in Titan America by 633.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the company’s stock worth $36,000 after buying an additional 1,874 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Titan America during the 2nd quarter worth about $96,000. Finally, SG Americas Securities LLC acquired a new position in shares of Titan America during the 4th quarter worth about $104,000.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TTAM shares. Stifel Nicolaus raised their price objective on Titan America from $18.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings started coverage on Titan America in a report on Wednesday, July 29th. They set a “hold (c)” rating on the stock. Citigroup raised their price target on Titan America from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen lowered Titan America from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Zacks Research raised Titan America from a “strong sell” rating to a “hold” rating in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.30.

Titan America Stock Up 1.7%

Shares of TTAM stock opened at $16.12 on Wednesday. Titan America SA has a 52-week low of $13.89 and a 52-week high of $19.57. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.01 and a beta of 1.07. The firm’s 50-day moving average is $17.09 and its 200-day moving average is $16.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 2.08.

Titan America (NYSE:TTAM) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.06). The business had revenue of $470.63 million for the quarter. Titan America had a return on equity of 17.03% and a net margin of 10.35%.The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. Sell-side analysts predict that Titan America SA will post 1.09 EPS for the current year.

Titan America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.0%. Titan America’s payout ratio is presently 16.67%.

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”).