Diamond Hill Capital Management LLC Investment Advisor Takes $7.62 Million Position in Titan America SA $TTAM

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Titan America SA (NYSE:TTAM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 408,502 shares of the company’s stock, valued at approximately $7,623,000. Diamond Hill Capital Management LLC Investment Advisor owned 0.22% of Titan America as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TTAM. River Road Asset Management LLC lifted its holdings in Titan America by 3.5% during the 4th quarter. River Road Asset Management LLC now owns 3,856,334 shares of the company’s stock valued at $63,552,000 after purchasing an additional 128,624 shares during the last quarter. 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. Voss Capital LP lifted its stake in shares of Titan America by 51.6% during the 4th quarter. Voss Capital LP now owns 2,600,000 shares of the company’s stock worth $42,848,000 after buying an additional 885,000 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Titan America during the 1st quarter worth about $9,188,000. Finally, Venator Management LLC grew its stake in Titan America by 13.9% in the 4th quarter. Venator Management LLC now owns 522,310 shares of the company’s stock valued at $8,608,000 after buying an additional 63,660 shares during the last quarter.

Titan America Stock Performance

TTAM opened at $15.62 on Tuesday. 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 SA has a 52-week low of $13.89 and a 52-week high of $19.57. The firm has a market cap of $2.88 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 1.03 and a beta of 1.07. The business’s fifty day moving average is $17.08 and its 200-day moving average is $16.71.

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

Titan America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, October 1st. Titan America’s payout ratio is currently 16.67%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Titan America from a “strong sell” rating to a “hold” rating in a report on Thursday, May 21st. Citigroup boosted 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. Stifel Nicolaus increased their price objective on Titan America from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. HSBC cut 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. Finally, Weiss Ratings assumed coverage on shares of 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 given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.30.

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”).