CastleKnight Management LP Has $17.28 Million Stock Position in Titan America SA $TTAM

CastleKnight Management LP cut its stake in Titan America SA (NYSE:TTAM) by 20.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,048,531 shares of the company’s stock after selling 270,070 shares during the period. CastleKnight Management LP owned approximately 0.57% of Titan America worth $17,280,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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

Titan America Trading Up 2.0%

Shares of TTAM stock opened at $17.61 on Thursday. Titan America SA has a 52-week low of $12.18 and a 52-week high of $19.42. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 1.10 and a beta of 1.15. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.96 and a current ratio of 2.99. The firm has a fifty day moving average of $16.15 and a 200-day moving average of $16.61.

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

Titan America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th will be paid a $0.04 dividend. The ex-dividend date is Thursday, June 18th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.9%. Titan America’s dividend payout ratio is currently 15.84%.

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”).