New York State Common Retirement Fund Sells 46,700 Shares of Titan International, Inc. (NYSE:TWI)

New York State Common Retirement Fund reduced its position in shares of Titan International, Inc. (NYSE:TWI) by 85.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,734 shares of the industrial products company’s stock after selling 46,700 shares during the period. New York State Common Retirement Fund’s holdings in Titan International were worth $65,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in shares of Titan International during the 4th quarter worth $54,000. Balyasny Asset Management L.P. bought a new stake in shares of Titan International during the 4th quarter worth $74,000. First Trust Advisors LP bought a new stake in shares of Titan International during the 4th quarter worth $74,000. GAMMA Investing LLC boosted its holdings in shares of Titan International by 130.5% during the 1st quarter. GAMMA Investing LLC now owns 12,518 shares of the industrial products company’s stock worth $105,000 after buying an additional 7,087 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Titan International by 45.2% during the 4th quarter. ProShare Advisors LLC now owns 15,098 shares of the industrial products company’s stock worth $103,000 after buying an additional 4,702 shares during the period. 80.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Anthony Eheli sold 25,000 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $9.24, for a total value of $231,000.00. Following the completion of the transaction, the chief accounting officer owned 45,276 shares in the company, valued at approximately $418,350.24. This represents a 35.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard M. Cashin, Jr. sold 212,398 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $10.34, for a total transaction of $2,196,195.32. Following the completion of the transaction, the director owned 176,461 shares of the company’s stock, valued at approximately $1,824,606.74. This represents a 54.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 301,348 shares of company stock valued at $3,086,520. Corporate insiders own 32.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TWI. DA Davidson upped their price objective on shares of Titan International from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Wall Street Zen raised shares of Titan International from a “sell” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Noble Financial started coverage on shares of Titan International in a report on Wednesday, June 4th. They issued an “outperform” rating and a $11.00 price target for the company.

Titan International Price Performance

Shares of Titan International stock opened at $9.58 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.26 and a quick ratio of 1.25. Titan International, Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $10.94. The firm has a fifty day moving average price of $8.98 and a two-hundred day moving average price of $8.27. The company has a market cap of $609.99 million, a PE ratio of -45.60 and a beta of 2.03.

Titan International (NYSE:TWI) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). Titan International had a negative net margin of 0.83% and a negative return on equity of 0.05%. The company had revenue of $490.71 million during the quarter, compared to the consensus estimate of $466.86 million. Analysts expect that Titan International, Inc. will post 0.03 EPS for the current year.

Titan International Company 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.