8,880,478 Shares in Titan International, Inc. $TWI Purchased by Aip LLC

Key Points

• Aip LLC acquired 8.88 million Titan International shares, representing a 13.76% stake valued at approximately $68.5 million and making TWI its largest portfolio holding. Institutional investors and hedge funds collectively own 80.39% of the company.
• Analyst sentiment remains mixed, with one Buy and one Sell rating; MarketBeat reports a consensus Hold rating and an average price target of $13.00.
• Titan International’s latest quarterly results exceeded expectations, reporting $0.10 in EPS versus a $0.05 loss estimate and $484.77 million in revenue. Despite the earnings beat, the company posted a negative net margin and analysts expect a full-year loss.

Aip LLC purchased a new stake in Titan International, Inc. (NYSE:TWI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,880,478 shares of the industrial products company's stock, valued at approximately $68,468,485,000. Titan International makes up about 71.9% of Aip LLC's investment portfolio, making the stock its largest holding. Aip LLC owned 13.76% of Titan International at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Titan International in the second quarter worth $35,922,000. Deutsche Bank AG acquired a new stake in shares of Titan International during the 2nd quarter worth about $403,000. Bank of New York Mellon Corp purchased a new stake in shares of Titan International during the second quarter worth about $1,374,000. State of Wyoming acquired a new stake in Titan International during the second quarter worth approximately $223,000. Finally, GSA Capital Partners LLP acquired a new stake in Titan International during the second quarter worth approximately $978,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TWI has been the subject of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Titan International in a report on Monday, July 20th. DA Davidson reiterated a "buy" rating and set a $13.00 price objective on shares of Titan International in a report on Friday, June 12th. Finally, Wall Street Zen upgraded shares of Titan International from a "sell" rating to a "hold" rating in a report on Sunday, May 10th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $13.00.

Titan International Trading Up 1.7%

Shares of TWI opened at $6.53 on Thursday. The company has a market capitalization of $421.38 million, a P/E ratio of -5.40 and a beta of 1.45. Titan International, Inc. has a one year low of $6.37 and a one year high of $11.70. The stock has a 50-day moving average price of $7.43 and a 200 day moving average price of $8.05. 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 earnings results on Thursday, July 30th. The industrial products company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.15. The company had revenue of $484.77 million during 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%. Sell-side analysts forecast that Titan International, Inc. will post -0.13 EPS for the current fiscal year.

Titan International 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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