Clear Harbor Asset Management LLC Purchases 11,000 Shares of Titan International Inc (TWI)

Clear Harbor Asset Management LLC boosted its position in shares of Titan International Inc (NYSE:TWI) by 6.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,930 shares of the industrial products company’s stock after acquiring an additional 11,000 shares during the period. Clear Harbor Asset Management LLC owned 0.31% of Titan International worth $1,104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Morgan Stanley raised its position in shares of Titan International by 102.3% during the third quarter. Morgan Stanley now owns 271,079 shares of the industrial products company’s stock valued at $2,011,000 after buying an additional 137,098 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Titan International during the third quarter valued at approximately $111,000. HHM Wealth Advisors LLC bought a new stake in shares of Titan International during the fourth quarter valued at approximately $276,000. Legal & General Group Plc raised its position in shares of Titan International by 8.9% during the third quarter. Legal & General Group Plc now owns 105,333 shares of the industrial products company’s stock valued at $785,000 after buying an additional 8,613 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Titan International by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,351,692 shares of the industrial products company’s stock valued at $20,279,000 after buying an additional 31,199 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

Shares of TWI opened at $5.53 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.02 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $333.60 million, a P/E ratio of 20.48 and a beta of 1.75. Titan International Inc has a fifty-two week low of $4.35 and a fifty-two week high of $12.38.

Titan International (NYSE:TWI) last posted its quarterly earnings data on Friday, May 3rd. The industrial products company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.13). The firm had revenue of $410.40 million for the quarter, compared to analysts’ expectations of $429.30 million. Titan International had a negative return on equity of 2.44% and a negative net margin of 0.77%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. As a group, analysts anticipate that Titan International Inc will post 0.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Thursday, March 28th. Titan International’s payout ratio is 7.41%.

TWI has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Titan International from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research report on Saturday, January 12th. ValuEngine cut shares of Titan International from a “sell” rating to a “strong sell” rating in a research report on Friday, January 25th. Sidoti set a $10.00 price target on shares of Titan International and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Finally, TheStreet upgraded shares of Titan International from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $11.44.

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About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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Institutional Ownership by Quarter for Titan International (NYSE:TWI)

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