Principal Financial Group Inc. lowered its stake in shares of Titan International, Inc. (NYSE:TWI – Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 307,919 shares of the industrial products company’s stock after selling 6,678 shares during the period. Principal Financial Group Inc. owned 0.49% of Titan International worth $3,227,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of TWI. Raymond James & Associates purchased a new stake in shares of Titan International during the 1st quarter worth approximately $795,000. Bank of New York Mellon Corp grew its stake in Titan International by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 479,897 shares of the industrial products company’s stock valued at $7,069,000 after buying an additional 5,399 shares in the last quarter. Citigroup Inc. grew its stake in Titan International by 10.7% in the 1st quarter. Citigroup Inc. now owns 42,647 shares of the industrial products company’s stock valued at $628,000 after buying an additional 4,120 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Titan International by 65.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,516 shares of the industrial products company’s stock valued at $51,000 after buying an additional 1,388 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in Titan International by 54.0% in the 1st quarter. MetLife Investment Management LLC now owns 27,983 shares of the industrial products company’s stock valued at $412,000 after buying an additional 9,811 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded shares of Titan International from a “hold” rating to a “buy” rating in a research note on Thursday.
Titan International Stock Up 2.6 %
Titan International stock opened at $12.92 on Monday. Titan International, Inc. has a 1-year low of $9.23 and a 1-year high of $17.29. The firm has a market capitalization of $810.47 million, a price-to-earnings ratio of 5.57 and a beta of 2.20. The company has a current ratio of 2.32, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The firm has a 50 day simple moving average of $11.96 and a 200 day simple moving average of $11.46.
Titan International (NYSE:TWI – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $481.18 million during the quarter, compared to analyst estimates of $516.00 million. Titan International had a net margin of 7.11% and a return on equity of 31.05%. On average, analysts predict that Titan International, Inc. will post 1.5 earnings per share for the current year.
About Titan International
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Latin America, Europe, the Commonwealth of Independent States region, the Middle East, Africa, Russia, and internationally.
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