Voss Capital LP Invests $10.64 Million in Titan America SA $TTAM

Key Points

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Voss Capital LP acquired a new stake in Titan America SA (NYSE:TTAM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 787,036 shares of the company's stock, valued at approximately $10,641,000. Titan America accounts for about 0.8% of Voss Capital LP's holdings, making the stock its 26th biggest position. Voss Capital LP owned about 0.43% of Titan America at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. acquired a new stake in shares of Titan America in the first quarter valued at $135,000. Cannon Global Investment Management LLC acquired a new stake in shares of Titan America during the first quarter worth $160,000. Seven Grand Managers LLC acquired a new stake in shares of Titan America during the first quarter worth $946,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Titan America during the first quarter worth $1,990,000. Finally, Burkehill Global Management LP acquired a new stake in shares of Titan America during the first quarter worth $2,704,000.

Titan America Stock Up 5.2%

NYSE:TTAM traded up $0.79 during trading hours on Friday, hitting $15.86. 365,274 shares of the company's stock traded hands, compared to its average volume of 398,040. The stock has a fifty day moving average price of $14.01. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.45. Titan America SA has a twelve month low of $10.80 and a twelve month high of $17.78.

Titan America (NYSE:TTAM - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.03). The business had revenue of $429.24 million during the quarter, compared to analysts' expectations of $436.95 million. The company's quarterly revenue was down .9% on a year-over-year basis.

Titan America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd will be paid a $0.04 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 1.0%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus reaffirmed a "hold" rating and set a $15.00 target price (down from $17.00) on shares of Titan America in a research report on Monday, July 28th. Bank of America reissued an "underperform" rating and set a $14.00 price target on shares of Titan America in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Titan America presently has a consensus rating of "Hold" and a consensus price target of $17.07.

Titan America Company Profile

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials.