NJ State Employees Deferred Compensation Plan Decreases Stake in Titan International Inc (NYSE:TWI)

NJ State Employees Deferred Compensation Plan lowered its position in shares of Titan International Inc (NYSE:TWI) by 33.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 60,000 shares of the industrial products company’s stock after selling 30,000 shares during the quarter. NJ State Employees Deferred Compensation Plan owned about 0.10% of Titan International worth $293,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of Titan International during the 1st quarter worth about $39,000. BNP Paribas Arbitrage SA grew its holdings in shares of Titan International by 337.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,087 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 8,552 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Titan International during the 2nd quarter worth about $59,000. Metropolitan Life Insurance Co. NY grew its holdings in shares of Titan International by 354.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 16,205 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 12,637 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Titan International by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 19,901 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 2,544 shares during the period. Institutional investors and hedge funds own 85.40% of the company’s stock.

A number of research firms have weighed in on TWI. Sidoti set a $8.00 price target on Titan International and gave the stock a “buy” rating in a report on Wednesday, June 26th. ValuEngine upgraded Titan International from a “sell” rating to a “hold” rating in a report on Friday. Finally, Zacks Investment Research cut Titan International from a “hold” rating to a “sell” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.58.

NYSE TWI traded down $0.11 on Monday, reaching $2.89. The company had a trading volume of 5,471 shares, compared to its average volume of 251,765. The firm has a market capitalization of $180.00 million, a price-to-earnings ratio of 11.11 and a beta of 2.05. Titan International Inc has a 1 year low of $2.98 and a 1 year high of $10.46. The firm’s 50-day moving average is $4.29. The company has a quick ratio of 0.97, a current ratio of 2.00 and a debt-to-equity ratio of 1.55.

Titan International (NYSE:TWI) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.25). The company had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $440.38 million. Titan International had a negative return on equity of 5.32% and a negative net margin of 1.31%. The firm’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.02 EPS. As a group, analysts forecast that Titan International Inc will post 0.37 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, June 27th. Titan International’s dividend payout ratio (DPR) is currently 7.41%.

Titan International Profile

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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