Titan International, Inc. (TWI) Holdings Cut by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY reduced its holdings in Titan International, Inc. (NYSE:TWI) by 54.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,746 shares of the industrial products company’s stock after selling 17,690 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Titan International were worth $190,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of TWI. Oppenheimer & Co. Inc. purchased a new position in shares of Titan International in the fourth quarter worth about $135,000. Crossmark Global Holdings Inc. purchased a new position in shares of Titan International in the fourth quarter worth about $216,000. Teacher Retirement System of Texas purchased a new position in shares of Titan International in the fourth quarter worth about $223,000. Monarch Partners Asset Management LLC purchased a new position in shares of Titan International in the fourth quarter worth about $365,000. Finally, Leucadia National Corp lifted its stake in shares of Titan International by 70.9% in the fourth quarter. Leucadia National Corp now owns 30,339 shares of the industrial products company’s stock worth $391,000 after buying an additional 12,586 shares in the last quarter. 86.79% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on TWI shares. ValuEngine downgraded shares of Titan International from a “hold” rating to a “sell” rating in a research note on Monday, April 23rd. Zacks Investment Research raised shares of Titan International from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, February 28th. Finally, William Blair reissued an “outperform” rating on shares of Titan International in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Titan International has a consensus rating of “Hold” and an average price target of $14.00.
Titan International (NYSE:TWI) last released its quarterly earnings data on Friday, February 23rd. The industrial products company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. Titan International had a negative net margin of 4.31% and a negative return on equity of 6.94%. The firm had revenue of $376.03 million during the quarter, compared to analysts’ expectations of $364.77 million. During the same period last year, the business earned ($0.25) earnings per share. Titan International’s revenue was up 22.4% compared to the same quarter last year. research analysts anticipate that Titan International, Inc. will post 0.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Thursday, March 29th were given a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.19%. The ex-dividend date was Wednesday, March 28th. Titan International’s payout ratio is currently -4.08%.
Titan International Company Profile
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, wheel and tire assemblies, and undercarriage systems and components for off-highway vehicles in the United States and internationally. It operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
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