Titan America (NYSE:TTAM) Announces Earnings Results

Titan America (NYSE:TTAM) issued its quarterly earnings results on Tuesday. The company reported $0.24 EPS for the quarter, FiscalAI reports. Titan America had a net margin of 10.83% and a return on equity of 19.80%. The firm had revenue of $405.66 million for the quarter.

Titan America Trading Up 2.4%

NYSE:TTAM traded up $0.37 during mid-day trading on Tuesday, reaching $16.05. 470,633 shares of the company’s stock traded hands, compared to its average volume of 347,580. The company has a 50 day moving average price of $17.61 and a 200-day moving average price of $16.31. The firm has a market capitalization of $2.96 billion and a price-to-earnings ratio of 16.21. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.95 and a quick ratio of 1.87. Titan America has a 12-month low of $10.80 and a 12-month high of $19.42.

Titan America Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, December 29th. Stockholders of record on Wednesday, December 17th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, December 17th. Titan America’s dividend payout ratio is 16.16%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TTAM. Citigroup raised their price objective on Titan America from $17.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Wall Street Zen raised Titan America from a “hold” rating to a “buy” rating in a research note on Saturday, November 29th. Jefferies Financial Group increased their price target on shares of Titan America from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, Sanford C. Bernstein boosted their price objective on shares of Titan America from $15.00 to $17.00 and gave the stock a “market perform” rating in a report on Friday, December 19th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Titan America has an average rating of “Hold” and a consensus target price of $17.08.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new position in shares of Titan America during the second quarter valued at approximately $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Titan America in the 4th quarter worth approximately $30,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Titan America in the 2nd quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd increased its position in Titan America by 633.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the company’s stock valued at $36,000 after buying an additional 1,874 shares in the last quarter. Finally, CWM LLC purchased a new position in Titan America during the third quarter valued at $61,000.

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”).