Balyasny Asset Management L.P. Takes $74,000 Position in Titan International, Inc. (NYSE:TWI)

Balyasny Asset Management L.P. bought a new position in shares of Titan International, Inc. (NYSE:TWI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,886 shares of the industrial products company’s stock, valued at approximately $74,000.

Other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in Titan International during the 4th quarter worth about $54,000. Mraz Amerine & Associates Inc. acquired a new stake in Titan International during the fourth quarter worth about $74,000. First Trust Advisors LP acquired a new stake in Titan International during the fourth quarter worth about $74,000. Miller Financial Services LLC purchased a new position in Titan International during the fourth quarter valued at approximately $85,000. Finally, Jump Financial LLC acquired a new position in Titan International in the fourth quarter valued at approximately $116,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Titan International Price Performance

Titan International stock opened at $7.40 on Tuesday. The stock has a market capitalization of $471.41 million, a P/E ratio of -61.67 and a beta of 1.95. The company’s fifty day moving average price is $7.48 and its 200 day moving average price is $7.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.38. Titan International, Inc. has a 1 year low of $5.93 and a 1 year high of $9.60.

Titan International (NYSE:TWI) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). Titan International had a positive return on equity of 5.76% and a negative net margin of 0.51%. The company had revenue of $490.71 million for the quarter, compared to analyst estimates of $466.86 million. As a group, equities research analysts anticipate that Titan International, Inc. will post 0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TWI has been the topic of a number of analyst reports. StockNews.com raised shares of Titan International from a “sell” rating to a “hold” rating in a research note on Thursday, May 8th. Cantor Fitzgerald initiated coverage on shares of Titan International in a report on Thursday, March 20th. They issued an “overweight” rating and a $11.00 price objective for the company.

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.