Municipal Employees Retirement System of Michigan grew its holdings in shares of Titan International Inc (NYSE:TWI) by 20.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,490 shares of the industrial products company’s stock after buying an additional 21,050 shares during the quarter. Municipal Employees Retirement System of Michigan owned 0.21% of Titan International worth $1,603,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in TWI. State Street Corp boosted its stake in shares of Titan International by 3.7% during the 2nd quarter. State Street Corp now owns 1,058,638 shares of the industrial products company’s stock valued at $12,714,000 after buying an additional 37,423 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Titan International by 16.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,153 shares of the industrial products company’s stock valued at $482,000 after buying an additional 5,585 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Titan International by 1.3% during the 2nd quarter. California State Teachers Retirement System now owns 88,309 shares of the industrial products company’s stock valued at $1,061,000 after buying an additional 1,100 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Titan International by 69.7% during the 3rd quarter. Nationwide Fund Advisors now owns 64,040 shares of the industrial products company’s stock valued at $650,000 after buying an additional 26,300 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Titan International by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 373,688 shares of the industrial products company’s stock valued at $3,793,000 after buying an additional 6,143 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.
Several equities analysts have recently commented on TWI shares. Zacks Investment Research cut Titan International from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. William Blair restated an “outperform” rating on shares of Titan International in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $14.00.
Titan International Inc (NYSE:TWI) opened at $13.65 on Friday. Titan International Inc has a one year low of $7.97 and a one year high of $14.53. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.10 and a quick ratio of 1.19.
Titan International (NYSE:TWI) last announced 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 return on equity of 6.94% and a negative net margin of 4.31%. The firm had revenue of $376.03 million for the quarter, compared to analysts’ expectations of $364.77 million. During the same period last year, the business posted ($0.25) earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. equities 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 will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be paid a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a yield of 0.15%. The ex-dividend date is Wednesday, March 28th. Titan International’s dividend payout ratio (DPR) is presently -1.79%.
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About Titan International
Titan International, Inc is a wheel, tire, and undercarriage industrial manufacturer and supplier. The Company’s segments are agricultural, earthmoving/construction, and consumer. The Company produces a range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets.
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