Rhumbline Advisers lessened its stake in Titan International, Inc. (NYSE:TWI – Free Report) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 148,571 shares of the industrial products company’s stock after selling 8,162 shares during the period. Rhumbline Advisers owned about 0.23% of Titan International worth $1,246,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in TWI. Brooklyn Investment Group lifted its stake in shares of Titan International by 1,286.4% in the first quarter. Brooklyn Investment Group now owns 5,934 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 5,506 shares during the period. Sigma Planning Corp bought a new stake in shares of Titan International in the 1st quarter valued at $101,000. GAMMA Investing LLC boosted its stake in shares of Titan International by 130.5% in the 1st quarter. GAMMA Investing LLC now owns 12,518 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 7,087 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Titan International by 25.4% during the first quarter. Hsbc Holdings PLC now owns 14,678 shares of the industrial products company’s stock worth $124,000 after buying an additional 2,969 shares during the period. Finally, ProShare Advisors LLC raised its stake in Titan International by 45.2% during the fourth 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 last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.
Titan International Price Performance
TWI opened at $8.17 on Friday. The firm has a 50-day moving average price of $8.86 and a 200-day moving average price of $8.38. Titan International, Inc. has a twelve month low of $5.93 and a twelve month high of $10.94. The company has a quick ratio of 1.27, a current ratio of 2.35 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $522.32 million, a price-to-earnings ratio of -26.37 and a beta of 1.85.
Analyst Ratings Changes
A number of brokerages have weighed in on TWI. Noble Financial assumed coverage on Titan International in a report on Wednesday, June 4th. They set an “outperform” rating and a $11.00 price target for the company. DA Davidson upped their target price on Titan International from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $11.33.
Check Out Our Latest Analysis on TWI
Insider Buying and Selling at Titan International
In related news, Director Richard M. Cashin, Jr. sold 212,398 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $10.34, for a total transaction of $2,196,195.32. Following the sale, the director directly owned 176,461 shares in the company, valued at approximately $1,824,606.74. The trade was a 54.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 25.00% of the company’s stock.
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.
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