Titan America (NYSE:TTAM) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Titan America (NYSE:TTAM) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other equities research analysts also recently weighed in on TTAM. Wall Street Zen downgraded shares of Titan America from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Citigroup reduced their price objective on shares of Titan America from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.00.

Titan America Price Performance

Shares of TTAM opened at $16.48 on Wednesday. Titan America has a fifty-two week low of $12.18 and a fifty-two week high of $19.42. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.18 and a beta of 1.36. The firm has a 50-day simple moving average of $16.35 and a 200-day simple moving average of $16.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.91 and a current ratio of 3.03.

Titan America (NYSE:TTAM) last announced its earnings results on Saturday, February 14th. The company reported $0.24 earnings per share for the quarter. Titan America had a net margin of 11.14% and a return on equity of 19.07%. The business had revenue of $405.66 million during the quarter. On average, equities research analysts anticipate that Titan America will post 1.15 earnings per share for the current year.

Titan America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 20th will be given a $0.04 dividend. The ex-dividend date is Monday, April 20th. This represents a $0.16 dividend on an annualized basis and a yield of 1.0%. Titan America’s dividend payout ratio (DPR) is presently 15.69%.

Insider Buying and Selling

In other news, CFO Lawrence Hugh Jr. Wilt acquired 20,000 shares of Titan America stock in a transaction that occurred on Thursday, March 19th. The stock was purchased at an average price of $14.93 per share, for a total transaction of $298,600.00. Following the completion of the transaction, the chief financial officer directly owned 20,000 shares in the company, valued at approximately $298,600. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Titan America

Hedge funds have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new stake in Titan America in the fourth quarter valued at about $30,000. Caitong International Asset Management Co. Ltd increased its holdings in Titan America by 633.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the company’s stock valued at $36,000 after buying an additional 1,874 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Titan America in the second quarter valued at about $28,000. CWM LLC purchased a new position in Titan America in the third quarter valued at about $61,000. Finally, SG Americas Securities LLC purchased a new position in Titan America in the fourth quarter valued at about $104,000.

About Titan America

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).