ABS Direct Equity Fund LLC Acquires New Shares in Titan America SA $TTAM

ABS Direct Equity Fund LLC acquired a new position in shares of Titan America SA (NYSE:TTAM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 30,000 shares of the company’s stock, valued at approximately $449,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in Titan America in the 2nd quarter valued at approximately $28,000. Kemnay Advisory Services Inc. acquired a new position in shares of Titan America during the fourth quarter worth $30,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Titan America by 633.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the company’s stock worth $36,000 after purchasing an additional 1,874 shares during the period. New York State Common Retirement Fund bought a new stake in shares of Titan America in the second quarter worth $96,000. Finally, SG Americas Securities LLC bought a new stake in shares of Titan America in the fourth quarter worth $104,000.

Titan America Trading Down 0.2%

NYSE:TTAM opened at $17.12 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.99 and a quick ratio of 1.96. Titan America SA has a one year low of $13.29 and a one year high of $19.57. The company has a market cap of $3.16 billion, a PE ratio of 16.95, a PEG ratio of 1.10 and a beta of 0.97. The firm has a 50-day moving average of $16.95 and a 200-day moving average of $16.85.

Titan America (NYSE:TTAM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $398.42 million for the quarter. Titan America had a return on equity of 18.35% and a net margin of 11.08%.Titan America’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. As a group, equities research analysts expect that Titan America SA will post 1.09 EPS for the current fiscal year.

Titan America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th were given a $0.04 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.16 annualized dividend and a yield of 0.9%. Titan America’s payout ratio is currently 15.84%.

Analysts Set New Price Targets

Several research analysts have issued reports on TTAM shares. HSBC lowered shares of Titan America from a “buy” rating to a “hold” rating and set a $18.50 price target for the company. in a report on Thursday, May 7th. Citigroup upped their price objective on shares of Titan America from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen downgraded shares of Titan America from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Zacks Research upgraded shares of Titan America from a “strong sell” rating to a “hold” rating in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.50.

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”).