Victory Capital Management Inc. Buys 167,032 Shares of Titan International, Inc. $TWI

Victory Capital Management Inc. boosted its position in Titan International, Inc. (NYSE:TWI) by 11.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,649,715 shares of the industrial products company’s stock after purchasing an additional 167,032 shares during the quarter. Victory Capital Management Inc.’s holdings in Titan International were worth $12,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Royce & Associates LP boosted its holdings in shares of Titan International by 1.7% during the third quarter. Royce & Associates LP now owns 1,128,985 shares of the industrial products company’s stock worth $8,535,000 after purchasing an additional 18,881 shares during the period. Intech Investment Management LLC grew its stake in shares of Titan International by 18.0% in the 3rd quarter. Intech Investment Management LLC now owns 25,761 shares of the industrial products company’s stock worth $195,000 after buying an additional 3,926 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Titan International during the third quarter valued at $153,000. Villanova Investment Management Co LLC increased its stake in Titan International by 28.4% during the 3rd quarter. Villanova Investment Management Co LLC now owns 213,165 shares of the industrial products company’s stock valued at $1,612,000 after purchasing an additional 47,153 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Titan International in the third quarter worth about $544,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TWI. Weiss Ratings reiterated 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 Titan International in a research report on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.67.

Insiders Place Their Bets

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

Titan International Trading Down 1.1%

NYSE:TWI opened at $8.27 on Thursday. The company has a current ratio of 2.30, a quick ratio of 1.20 and a debt-to-equity ratio of 1.08. Titan International, Inc. has a 12 month low of $5.93 and a 12 month high of $11.70. The company has a market cap of $529.16 million, a PE ratio of -8.27 and a beta of 1.47. The company has a 50 day simple moving average of $9.54 and a two-hundred day simple moving average of $8.56.

Titan International (NYSE:TWI) last released its quarterly earnings results on Thursday, February 26th. The industrial products company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.01). The firm had revenue of $410.44 million for the quarter, compared to the consensus estimate of $396.86 million. Titan International had a negative net margin of 3.47% and a negative return on equity of 2.82%. Research analysts forecast that Titan International, Inc. will post 0.03 earnings per share 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.