Titan International (TWI) Trading Up 8.9% on Insider Buying Activity

Titan International Inc (NYSE:TWI) was up 8.9% on Monday after an insider bought additional shares in the company. The company traded as high as $13.35 and last traded at $12.84. Approximately 544,251 shares were traded during trading, an increase of 44% from the average daily volume of 378,537 shares. The stock had previously closed at $11.79.

Specifically, CEO Paul G. Reitz sold 22,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $10.82, for a total transaction of $238,040.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James M. Froisland bought 5,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were bought at an average price of $11.65 per share, for a total transaction of $58,250.00. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $58,250. The disclosure for this purchase can be found here. 17.80% of the stock is currently owned by insiders.

Several research analysts have recently issued reports on TWI shares. ValuEngine raised Titan International from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Zacks Investment Research raised Titan International from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Jefferies Group reaffirmed a “hold” rating and set a $12.00 price target on shares of Titan International in a research note on Sunday, November 5th. Finally, TheStreet raised Titan International from a “d+” rating to a “c-” rating in a research note on Monday, November 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Titan International has an average rating of “Buy” and a consensus price target of $13.50.

The company has a debt-to-equity ratio of 1.17, a current ratio of 2.22 and a quick ratio of 1.28.

Titan International (NYSE:TWI) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.03. The business had revenue of $370.99 million during the quarter, compared to the consensus estimate of $331.30 million. Titan International had a negative return on equity of 9.22% and a negative net margin of 3.19%. The business’s revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.15) EPS. research analysts forecast that Titan International Inc will post -0.62 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Thursday, December 28th. Titan International’s dividend payout ratio (DPR) is presently -2.41%.

Several large investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its stake in Titan International by 5.1% in the 1st quarter. Teachers Advisors LLC now owns 81,773 shares of the industrial products company’s stock valued at $846,000 after purchasing an additional 3,952 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Titan International by 6.9% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 32,436 shares of the industrial products company’s stock valued at $335,000 after purchasing an additional 2,104 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Titan International by 89.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 83,178 shares of the industrial products company’s stock valued at $999,000 after purchasing an additional 39,187 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Titan International by 15.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 71,519 shares of the industrial products company’s stock valued at $857,000 after purchasing an additional 9,346 shares during the last quarter. Finally, Texas Permanent School Fund raised its stake in Titan International by 0.5% in the 2nd quarter. Texas Permanent School Fund now owns 35,280 shares of the industrial products company’s stock valued at $424,000 after purchasing an additional 188 shares during the last quarter. 87.15% of the stock is owned by institutional investors and hedge funds.

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About Titan International

Titan International, Inc is a wheel, tire, and undercarriage industrial manufacturer and supplier. The Company’s segments are agricultural, earthmoving/construction, and consumer. The Company produces a range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.

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