178,267 Shares in Titan International, Inc. $TWI Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp 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 178,267 shares of the industrial products company's stock, valued at approximately $1,374,000. Bank of New York Mellon Corp owned about 0.28% 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. Sei Investments Co. boosted its position in shares of Titan International by 99.4% in the first quarter. Sei Investments Co. now owns 369,535 shares of the industrial products company's stock valued at $2,553,000 after acquiring an additional 184,176 shares during the period. Renaissance Technologies LLC increased its position in Titan International by 10.5% during the first quarter. Renaissance Technologies LLC now owns 2,477,119 shares of the industrial products company's stock worth $17,117,000 after acquiring an additional 235,632 shares during the period. Dimensional Fund Advisors LP increased its position in Titan International by 6.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,426,873 shares of the industrial products company's stock worth $23,678,000 after acquiring an additional 204,589 shares during the period. Empowered Funds LLC raised its stake in Titan International by 27.8% during the 1st quarter. Empowered Funds LLC now owns 773,501 shares of the industrial products company's stock valued at $5,345,000 after purchasing an additional 168,328 shares during the last quarter. Finally, TritonPoint Partners LLC acquired a new position in Titan International during the 4th quarter valued at $1,116,000. 80.39% of the stock is currently owned by institutional investors.

Titan International Stock Performance

NYSE TWI opened at $7.62 on Thursday. The stock has a market cap of $491.47 million, a P/E ratio of -6.29 and a beta of 1.46. The company's 50-day simple moving average is $7.37 and its 200 day simple moving average is $7.70. Titan International, Inc. has a twelve month low of $6.37 and a twelve month high of $11.70. The company has a quick ratio of 1.15, a current ratio of 2.11 and a debt-to-equity ratio of 1.10.

Titan International (NYSE:TWI - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.15. The firm had revenue of $484.77 million during the quarter, compared to analyst estimates of $480.06 million. Titan International had a negative net margin of 4.11% and a negative return on equity of 1.56%. As a group, research analysts forecast that Titan International, Inc. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TWI has been the topic of several research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Titan International in a report on Monday, July 20th. DA Davidson reiterated a "buy" rating and issued a $13.00 target price on shares of Titan International in a research note on Friday, June 12th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Titan International currently has an average rating of "Hold" and an average price target of $13.00.

About Titan International

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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