Titan International, Inc. (NYSE:TWI) Position Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Titan International, Inc. (NYSE:TWI) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,751 shares of the industrial products company’s stock after selling 1,982 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Titan International were worth $249,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TWI. Swiss National Bank boosted its holdings in shares of Titan International by 1.4% during the third quarter. Swiss National Bank now owns 117,900 shares of the industrial products company’s stock valued at $1,583,000 after acquiring an additional 1,600 shares during the period. Quantbot Technologies LP grew its position in Titan International by 20.1% in the 3rd quarter. Quantbot Technologies LP now owns 11,564 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 1,935 shares during the last quarter. Beacon Investment Advisors LLC increased its stake in shares of Titan International by 1.4% in the third quarter. Beacon Investment Advisors LLC now owns 154,363 shares of the industrial products company’s stock valued at $2,073,000 after purchasing an additional 2,074 shares during the period. Clear Harbor Asset Management LLC raised its holdings in shares of Titan International by 1.7% during the third quarter. Clear Harbor Asset Management LLC now owns 184,700 shares of the industrial products company’s stock valued at $2,481,000 after buying an additional 3,000 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Titan International by 8.0% during the third quarter. New York State Common Retirement Fund now owns 50,675 shares of the industrial products company’s stock worth $681,000 after buying an additional 3,746 shares during the period. 80.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, TheStreet downgraded Titan International from a “b-” rating to a “c” rating in a research note on Thursday, February 29th.

Titan International Stock Performance

TWI stock opened at $11.55 on Friday. The company has a 50-day simple moving average of $12.53 and a 200 day simple moving average of $13.28. The company has a market capitalization of $841.65 million, a P/E ratio of 9.24 and a beta of 2.09. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.88. Titan International, Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $15.33.

Titan International (NYSE:TWI) last issued its quarterly earnings results on Thursday, February 29th. The industrial products company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. Titan International had a net margin of 4.32% and a return on equity of 22.57%. The company had revenue of $390.20 million during the quarter, compared to analyst estimates of $418.05 million. Sell-side analysts predict that Titan International, Inc. will post 1.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Titan International

In other news, CAO Anthony Eheli sold 2,500 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $12.42, for a total value of $31,050.00. Following the sale, the chief accounting officer now owns 52,918 shares of the company’s stock, valued at approximately $657,241.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.30% of the stock is currently owned by corporate insiders.

Titan International Profile

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.