Royal Bank of Canada Grows Stake in Titan International, Inc. $TWI

Royal Bank of Canada grew its stake in shares of Titan International, Inc. (NYSE:TWI) by 322.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 197,863 shares of the industrial products company’s stock after acquiring an additional 151,078 shares during the period. Royal Bank of Canada’s holdings in Titan International were worth $1,367,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Titan International by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,527,269 shares of the industrial products company’s stock worth $26,666,000 after purchasing an additional 12,630 shares during the period. Donald Smith & CO. Inc. grew its holdings in Titan International by 59.1% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,491,649 shares of the industrial products company’s stock valued at $27,340,000 after purchasing an additional 1,297,542 shares during the period. Dimensional Fund Advisors LP increased its position in Titan International by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,426,873 shares of the industrial products company’s stock worth $23,678,000 after buying an additional 204,589 shares during the last quarter. Renaissance Technologies LLC increased its position in Titan International by 10.5% in the first quarter. Renaissance Technologies LLC now owns 2,477,119 shares of the industrial products company’s stock worth $17,117,000 after buying an additional 235,632 shares during the last quarter. Finally, Invesco Ltd. increased its position in Titan International by 85.1% in the fourth quarter. Invesco Ltd. now owns 1,579,219 shares of the industrial products company’s stock worth $12,365,000 after buying an additional 725,926 shares during the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TWI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Titan International in a research report on Monday, July 20th. Wall Street Zen raised Titan International from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Finally, DA Davidson restated a “buy” rating and issued a $13.00 price objective on shares of Titan International in a research note on Friday, June 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.00.

Titan International Stock Up 1.7%

TWI opened at $6.53 on Thursday. The company has a 50 day moving average of $7.43 and a 200 day moving average of $8.05. The company has a market cap of $421.38 million, a PE ratio of -5.40 and a beta of 1.45. Titan International, Inc. has a 12 month low of $6.37 and a 12 month high of $11.70. The company has a current ratio of 2.11, a quick ratio of 1.15 and a debt-to-equity ratio of 1.10.

Titan International (NYSE:TWI) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.15. The business had revenue of $484.77 million during the quarter, compared to analyst estimates of $480.06 million. Titan International had a negative net margin of 4.11% and a negative return on equity of 1.56%. On average, sell-side analysts expect that Titan International, Inc. will post -0.13 EPS for the current year.

Titan International Profile

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan’s product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.