Allspring Global Investments Holdings LLC Reduces Stock Position in Titan America SA $TTAM

Allspring Global Investments Holdings LLC cut its stake in Titan America SA (NYSE:TTAM) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,372,783 shares of the company’s stock after selling 51,955 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.29% of Titan America worth $39,649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Voss Capital LP increased its holdings in Titan America by 92.3% during the 2nd quarter. Voss Capital LP now owns 1,513,423 shares of the company’s stock worth $18,888,000 after acquiring an additional 726,387 shares during the period. Millennium Management LLC bought a new position in Titan America in the 1st quarter valued at $9,188,000. Invesco Ltd. purchased a new stake in shares of Titan America in the second quarter worth $5,346,000. Geode Capital Management LLC bought a new stake in Titan America during the second quarter valued at $3,591,000. Finally, Raymond James Financial Inc. boosted its stake in Titan America by 25,628.9% during the third quarter. Raymond James Financial Inc. now owns 185,763 shares of the company’s stock valued at $2,775,000 after buying an additional 185,041 shares during the period.

Titan America Trading Down 1.1%

TTAM stock opened at $15.11 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.91 and a current ratio of 3.03. The company has a market capitalization of $2.78 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.10 and a beta of 1.36. The company’s 50 day moving average price is $17.02 and its two-hundred day moving average price is $16.25. Titan America SA has a one year low of $10.80 and a one year high of $19.42.

Titan America (NYSE:TTAM) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.24 earnings per share (EPS) 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.

Titan America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders 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 annualized dividend and a yield of 1.1%. Titan America’s payout ratio is presently 15.69%.

Insiders Place Their Bets

In other news, CFO Lawrence Hugh Jr. Wilt acquired 20,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were 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 owned 20,000 shares of the company’s stock, valued at $298,600. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

Several research firms have weighed in on TTAM. Citigroup lowered their price target on Titan America from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. Jefferies Financial Group lifted their target price on shares of Titan America from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Wall Street Zen lowered shares of Titan America from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Sanford C. Bernstein raised their price objective on shares of Titan America from $15.00 to $17.00 and gave the company a “market perform” rating in a research report on Friday, December 19th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.00.

Titan America Profile

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”).