EVR Research LP Has $3.86 Million Stock Holdings in Titan International, Inc. $TWI

EVR Research LP trimmed its stake in shares of Titan International, Inc. (NYSE:TWI) by 63.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 510,000 shares of the industrial products company’s stock after selling 890,000 shares during the period. Titan International comprises about 2.3% of EVR Research LP’s holdings, making the stock its 14th biggest holding. EVR Research LP’s holdings in Titan International were worth $3,856,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Donald Smith & CO. Inc. increased its stake in Titan International by 92.2% in the 2nd quarter. Donald Smith & CO. Inc. now owns 1,459,953 shares of the industrial products company’s stock worth $14,994,000 after purchasing an additional 700,467 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Titan International by 11.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,649,715 shares of the industrial products company’s stock worth $12,472,000 after buying an additional 167,032 shares during the period. Bank of America Corp DE lifted its stake in Titan International by 35.1% during the second quarter. Bank of America Corp DE now owns 584,390 shares of the industrial products company’s stock valued at $6,002,000 after buying an additional 151,888 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Titan International by 13.2% in the second quarter. American Century Companies Inc. now owns 1,212,683 shares of the industrial products company’s stock worth $12,454,000 after buying an additional 141,256 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of Titan International by 35.5% in the first quarter. Jane Street Group LLC now owns 424,724 shares of the industrial products company’s stock worth $3,563,000 after buying an additional 111,309 shares during the period. Institutional investors and hedge funds own 80.39% of the company’s stock.

Insider Activity

In related news, major shareholder Aipct Holdings Llc sold 3,041,288 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $8.95, for a total transaction of $27,219,527.60. Following the completion of the sale, the insider directly owned 8,880,478 shares in the company, valued at approximately $79,480,278.10. This trade represents a 25.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 25.00% of the company’s stock.

Titan International Stock Down 3.3%

Titan International stock opened at $7.99 on Friday. The firm has a market cap of $511.20 million, a PE ratio of -7.99 and a beta of 1.47. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.20 and a current ratio of 2.30. The firm’s 50 day moving average price is $9.54 and its two-hundred day moving average price is $8.55. Titan International, Inc. has a twelve month low of $5.93 and a twelve month high of $11.70.

Titan International (NYSE:TWI) last issued its earnings results on Thursday, February 26th. The industrial products company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). Titan International had a negative net margin of 3.47% and a negative return on equity of 2.82%. The company had revenue of $410.44 million for the quarter, compared to analyst estimates of $396.86 million. On average, research analysts predict that Titan International, Inc. will post 0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TWI shares. Weiss Ratings restated a “sell (e+)” rating on shares of Titan International in a report on Monday, December 29th. DA Davidson set a $13.00 price objective on shares of Titan International in a research note on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

About Titan International

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.