Titan America (NYSE:TTAM) Releases Quarterly Earnings Results

Titan America (NYSE:TTAM) issued its quarterly earnings results on Tuesday. The company reported $0.18 earnings per share for the quarter, FiscalAI reports. The business had revenue of $398.42 million for the quarter. Titan America had a return on equity of 19.07% and a net margin of 11.14%.

Titan America Stock Up 1.6%

Shares of NYSE TTAM traded up $0.25 during mid-day trading on Tuesday, reaching $16.31. 281,182 shares of the company traded hands, compared to its average volume of 328,262. The company’s fifty day moving average is $16.18 and its two-hundred day moving average is $16.42. Titan America has a fifty-two week low of $12.18 and a fifty-two week high of $19.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.91 and a current ratio of 3.03. The stock has a market cap of $3.01 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24.

Titan America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Monday, April 20th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, April 20th. Titan America’s dividend payout ratio is 15.69%.

Insider Activity at Titan America

In other news, CFO Lawrence Hugh Jr. Wilt acquired 20,000 shares of Titan America stock in a transaction dated Thursday, March 19th. The stock was acquired at an average cost of $14.93 per share, for a total transaction of $298,600.00. Following the completion of the purchase, the chief financial officer owned 20,000 shares of the company’s stock, valued at $298,600. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TTAM. Bank of New York Mellon Corp grew its position in shares of Titan America by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 55,975 shares of the company’s stock valued at $839,000 after purchasing an additional 1,072 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Titan America during the 1st quarter worth about $1,167,000. Keybank National Association OH boosted its stake in Titan America by 11.9% during the 1st quarter. Keybank National Association OH now owns 23,500 shares of the company’s stock valued at $352,000 after purchasing an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Titan America by 2,018.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,271 shares of the company’s stock valued at $103,000 after purchasing an additional 5,975 shares during the period. Finally, River Road Asset Management LLC grew its holdings in Titan America by 3.5% in the 4th quarter. River Road Asset Management LLC now owns 3,856,334 shares of the company’s stock valued at $63,552,000 after buying an additional 128,624 shares during the last quarter.

Wall Street Analyst Weigh In

TTAM has been the subject of a number of research reports. Citigroup decreased their price objective on Titan America from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Wall Street Zen lowered shares of Titan America from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Zacks Research cut shares of Titan America from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.00.

About Titan America

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”).