155,835 Shares in Titan International, Inc. $TWI Bought by Clear Harbor Asset Management LLC

Key Points

• Clear Harbor Asset Management initiated a position in Titan International by purchasing 155,835 shares worth approximately $1.2 million, representing about 0.24% of the company. Institutional investors collectively own 80.39% of Titan’s stock.
• Analyst sentiment remains mixed: Titan carries a consensus rating of “Hold”, with one Buy and one Sell rating and a consensus price target of $13.00.
• Titan reported quarterly EPS of $0.10, exceeding the expected loss of $0.05, while revenue of $484.77 million also topped estimates. Despite the earnings beat, the company posted a negative net margin and analysts expect a full-year loss.

Clear Harbor Asset Management LLC bought a new position in shares of Titan International, Inc. (NYSE:TWI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 155,835 shares of the industrial products company's stock, valued at approximately $1,201,000. Clear Harbor Asset Management LLC owned about 0.24% of Titan International at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. State of Wyoming increased its stake in shares of Titan International by 45.2% in the first quarter. State of Wyoming now owns 4,758 shares of the industrial products company's stock worth $33,000 after purchasing an additional 1,482 shares during the period. Deutsche Bank AG boosted its stake in Titan International by 4.8% during the 4th quarter. Deutsche Bank AG now owns 41,775 shares of the industrial products company's stock valued at $327,000 after purchasing an additional 1,913 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Titan International by 4.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 58,657 shares of the industrial products company's stock valued at $459,000 after buying an additional 2,573 shares during the last quarter. Prudential Financial Inc. grew its holdings in Titan International by 6.3% in the 2nd quarter. Prudential Financial Inc. now owns 52,026 shares of the industrial products company's stock valued at $534,000 after buying an additional 3,085 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Titan International by 191.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,189 shares of the industrial products company's stock valued at $53,000 after buying an additional 3,410 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on TWI shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Titan International in a report on Monday, July 20th. Wall Street Zen upgraded shares of Titan International from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th. Finally, DA Davidson reaffirmed a "buy" rating and set a $13.00 target price on shares of Titan International in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $13.00.

Titan International Stock Up 7.3%

NYSE TWI opened at $7.16 on Friday. Titan International, Inc. has a twelve month low of $6.37 and a twelve month high of $11.70. The stock has a market cap of $462.11 million, a PE ratio of -5.92 and a beta of 1.45. The firm has a 50-day simple moving average of $7.40 and a 200 day simple moving average of $8.03. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.15 and a current ratio of 2.11.

Titan International (NYSE:TWI - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.15. The firm had revenue of $484.77 million for the quarter, compared to analyst estimates of $480.06 million. Titan International had a negative return on equity of 1.56% and a negative net margin of 4.11%. On average, research analysts forecast that Titan International, Inc. will post -0.13 EPS for the current year.

Titan International Company Profile

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan's product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.

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