Titan America (NYSE:TTAM) Reaches New 52-Week Low – Here’s Why

Shares of Titan America SA (NYSE:TTAM) hit a new 52-week low on Thursday. The stock traded as low as $11.13 and last traded at $11.28, with a volume of 49,179 shares changing hands. The stock had previously closed at $11.44.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TTAM. Weiss Ratings downgraded Titan America from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, October 20th. Stifel Nicolaus dropped their price objective on shares of Titan America from $19.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, October 28th. Citigroup cut their target price on shares of Titan America from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday. Finally, Zacks Research cut shares of Titan America from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.50.

Titan America Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.65 and a current ratio of 1.18. The firm has a market capitalization of $2.09 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 2.48 and a beta of 1.06. The firm’s 50 day moving average price is $13.62 and its 200-day moving average price is $15.85.

Titan America (NYSE:TTAM) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.15). The business had revenue of $461.64 million during the quarter. Titan America had a net margin of 9.19% and a return on equity of 14.88%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. On average, research analysts expect that Titan America SA will post 0.84 EPS for the current year.

Titan America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Shareholders of record on Friday, December 18th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, December 18th. Titan America’s dividend payout ratio (DPR) is presently 18.39%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TTAM. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Titan America during the 2nd quarter valued at approximately $7,623,000. Ancora Advisors LLC raised its position in Titan America by 0.6% during the second quarter. Ancora Advisors LLC now owns 161,220 shares of the company’s stock worth $3,008,000 after acquiring an additional 1,020 shares during the period. Sei Investments Co. lifted its holdings in Titan America by 23.2% during the first quarter. Sei Investments Co. now owns 131,242 shares of the company’s stock valued at $1,965,000 after purchasing an additional 24,672 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Titan America during the first quarter valued at $1,489,000. Finally, Lazard Asset Management LLC purchased a new position in Titan America during the first quarter valued at $1,452,000.

About Titan America

Titan America, Inc. is a vertically integrated building materials company that produces and supplies materials used in residential, commercial and infrastructure construction. Its products include cement, aggregates, ready-mixed concrete and other construction materials. The company serves customers across parts of the Mid-Atlantic and southeastern United States through a network of production facilities and distribution operations. Its businesses include Roanoke Cement and Titan Florida, which supply cement and related materials to regional markets.