Titan International (NYSE:TWI) Stock Price Down 6% on Insider Selling

Titan International, Inc. (NYSE:TWIGet Rating) shares were down 6% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $16.31 and last traded at $16.73. Approximately 8,028 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 621,172 shares. The stock had previously closed at $17.80.

Specifically, CEO Paul G. Reitz sold 40,000 shares of the business’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $17.95, for a total value of $718,000.00. Following the completion of the sale, the chief executive officer now directly owns 252,413 shares of the company’s stock, valued at approximately $4,530,813.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.60% of the stock is currently owned by insiders.

Separately, StockNews.com raised Titan International from a “hold” rating to a “buy” rating in a research note on Sunday, April 24th.

The company has a 50 day simple moving average of $16.70 and a 200 day simple moving average of $13.22. The company has a current ratio of 1.85, a quick ratio of 0.99 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $909.15 million, a PE ratio of 15.27 and a beta of 2.40.

Titan International (NYSE:TWIGet Rating) last released its earnings results on Monday, May 2nd. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.15. Titan International had a return on equity of 37.62% and a net margin of 3.10%. The company had revenue of $556.00 million for the quarter, compared to analysts’ expectations of $506.33 million. During the same quarter in the previous year, the firm posted $0.07 EPS. On average, equities research analysts predict that Titan International, Inc. will post 2.25 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clear Harbor Asset Management LLC increased its position in Titan International by 16.3% during the 4th quarter. Clear Harbor Asset Management LLC now owns 247,900 shares of the industrial products company’s stock worth $2,717,000 after purchasing an additional 34,790 shares during the period. CastleKnight Management LP acquired a new position in Titan International during the 4th quarter worth approximately $2,064,000. Allspring Global Investments Holdings LLC acquired a new position in Titan International during the 4th quarter worth approximately $1,118,000. Summit Global Investments acquired a new position in Titan International during the 4th quarter worth approximately $277,000. Finally, Total Clarity Wealth Management Inc. increased its position in Titan International by 32.3% during the 4th quarter. Total Clarity Wealth Management Inc. now owns 55,846 shares of the industrial products company’s stock worth $612,000 after purchasing an additional 13,642 shares during the period. Institutional investors own 75.23% of the company’s stock.

About Titan International (NYSE:TWI)

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, the Middle East, Africa, Russia, and internationally.

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