Aipct Holdings Llc Sells 3,041,288 Shares of Titan International (NYSE:TWI) Stock

Titan International, Inc. (NYSE:TWI) major shareholder Aipct Holdings Llc sold 3,041,288 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $8.95, for a total value of $27,219,527.60. Following the completion of the sale, the insider owned 8,880,478 shares in the company, valued at $79,480,278.10. The trade was a 25.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Titan International Stock Performance

Shares of TWI opened at $8.68 on Friday. The firm has a fifty day moving average of $9.51 and a 200-day moving average of $8.56. The company has a market cap of $555.69 million, a price-to-earnings ratio of -8.68 and a beta of 1.47. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.20 and a current ratio of 2.30. Titan International, Inc. has a 1 year low of $5.93 and a 1 year high of $11.70.

Titan International (NYSE:TWI) last released its quarterly earnings data on Thursday, February 26th. The industrial products company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). The firm had revenue of $410.44 million during the quarter, compared to analyst estimates of $396.86 million. Titan International had a negative return on equity of 2.82% and a negative net margin of 3.47%. As a group, equities analysts anticipate that Titan International, Inc. will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On Titan International

Several large investors have recently bought and sold shares of TWI. Quarry LP acquired a new stake in Titan International during the third quarter valued at approximately $27,000. Federated Hermes Inc. acquired a new position in Titan International in the third quarter worth approximately $31,000. Byrne Asset Management LLC bought a new position in shares of Titan International in the third quarter valued at $32,000. Russell Investments Group Ltd. increased its holdings in shares of Titan International by 22,000.0% in the third quarter. Russell Investments Group Ltd. now owns 4,199 shares of the industrial products company’s stock valued at $32,000 after buying an additional 4,180 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Titan International during the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TWI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Titan International in a report on Monday, December 29th. Wall Street Zen raised Titan International from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, DA Davidson set a $13.00 target price on Titan International in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Titan International presently has an average rating of “Moderate Buy” and a consensus price target of $11.67.

About Titan International

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan’s product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.