American Century Companies Inc. Takes Position in Titan America SA $TTAM

Key Points

• American Century Companies Inc. acquired approximately 4.99 million shares of Titan America SA, worth about $67.6 million, giving it a 2.71% ownership stake in the company.
• Recent analyst reports indicate a mixed outlook for Titan America, with a "hold" rating and a reduced price target of $15.00 from Stifel Nicolaus, while Bank of America issued an "underperform" rating with a $14.00 target.
• Titan America plans to pay a quarterly dividend of $0.04 per share on October 15th, which represents an annualized yield of 1.0% based on the current share price.

American Century Companies Inc. bought a new stake in Titan America SA (NYSE:TTAM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 4,999,747 shares of the company's stock, valued at approximately $67,597,000. American Century Companies Inc. owned about 2.71% of Titan America at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TTAM. PNC Financial Services Group Inc. purchased a new position in shares of Titan America in the 1st quarter valued at $135,000. Cannon Global Investment Management LLC purchased a new position in Titan America during the 1st quarter worth $160,000. Seven Grand Managers LLC purchased a new position in Titan America during the 1st quarter worth $946,000. Diamond Hill Capital Management Inc. purchased a new position in Titan America during the 1st quarter worth $1,990,000. Finally, Burkehill Global Management LP purchased a new position in Titan America during the 1st quarter worth $2,704,000.

Analyst Ratings Changes

TTAM has been the topic of several research reports. Stifel Nicolaus reissued a "hold" rating and set a $15.00 price objective (down from $17.00) on shares of Titan America in a research report on Monday, July 28th. Bank of America reiterated an "underperform" rating and issued a $14.00 price objective on shares of Titan America in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Titan America has an average rating of "Hold" and an average target price of $17.07.

Titan America Trading Up 0.7%

Shares of Titan America stock opened at $15.44 on Tuesday. Titan America SA has a 52-week low of $10.80 and a 52-week high of $17.78. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.45. The business's 50-day moving average price is $13.86.

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

Titan America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Friday, October 3rd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 1.0%.

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.

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