Renaissance Technologies LLC Makes New Investment in Titan America SA $TTAM

Renaissance Technologies LLC purchased a new stake in shares of Titan America SA (NYSE:TTAM) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 99,400 shares of the company’s stock, valued at approximately $1,489,000.

A number of other hedge funds also recently bought and sold shares of TTAM. Millennium Management LLC bought a new position in Titan America in the first quarter valued at about $9,188,000. Woodline Partners LP bought a new stake in shares of Titan America during the 1st quarter valued at about $2,028,000. Jane Street Group LLC purchased a new stake in shares of Titan America during the 1st quarter valued at about $1,266,000. Geode Capital Management LLC bought a new position in shares of Titan America in the 2nd quarter worth approximately $3,591,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Titan America in the 2nd quarter worth approximately $149,000.

Titan America Trading Down 0.1%

Titan America stock opened at $15.99 on Thursday. The firm has a 50 day moving average of $17.07 and a 200 day moving average of $16.75. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 1.02 and a beta of 1.07. Titan America SA has a 12-month low of $13.89 and a 12-month high of $19.57. The company has a current ratio of 2.08, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51.

Titan America (NYSE:TTAM) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.06). The firm had revenue of $470.63 million for the quarter. Titan America had a net margin of 10.35% and a return on equity of 17.03%. Titan America’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. As a group, research analysts predict that Titan America SA will post 1.09 earnings per share for the current year.

Titan America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be paid a dividend of $0.04 per share. The ex-dividend date 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 16.67%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TTAM. HSBC lowered shares of Titan America from a “buy” rating to a “hold” rating and set a $18.50 target price for the company. in a research report on Thursday, May 7th. Stifel Nicolaus lifted their price target on shares of Titan America from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. Zacks Research raised shares of Titan America from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Citigroup raised their target price on Titan America from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings began coverage on Titan America in a research report on Wednesday, July 29th. They set a “hold (c)” rating on the stock. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.30.

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”).