Bank of America Corp DE Acquires 30,961 Shares of Titan International, Inc. (NYSE:TWI)

Bank of America Corp DE boosted its position in shares of Titan International, Inc. (NYSE:TWI - Free Report) by 21.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 173,404 shares of the industrial products company's stock after acquiring an additional 30,961 shares during the period. Bank of America Corp DE owned about 0.27% of Titan International worth $1,177,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in shares of Titan International during the fourth quarter worth about $126,000. ExodusPoint Capital Management LP acquired a new position in shares of Titan International during the 4th quarter worth $236,000. Jump Financial LLC acquired a new position in shares of Titan International during the 4th quarter worth approximately $116,000. Mariner LLC raised its holdings in shares of Titan International by 24.2% in the fourth quarter. Mariner LLC now owns 29,020 shares of the industrial products company's stock worth $197,000 after acquiring an additional 5,655 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Titan International by 14.1% in the 4th quarter. MetLife Investment Management LLC now owns 26,763 shares of the industrial products company's stock valued at $182,000 after purchasing an additional 3,310 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company's stock.

Titan International Stock Performance

Shares of TWI stock traded up $0.45 during trading on Friday, reaching $8.15. The company had a trading volume of 555,858 shares, compared to its average volume of 716,642. Titan International, Inc. has a one year low of $5.93 and a one year high of $9.60. The company has a market capitalization of $518.87 million, a PE ratio of -67.88 and a beta of 1.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.38 and a quick ratio of 1.33. The firm's 50 day simple moving average is $7.14 and its two-hundred day simple moving average is $7.66.

Titan International (NYSE:TWI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). Titan International had a negative net margin of 0.51% and a positive return on equity of 5.76%. The firm had revenue of $490.71 million for the quarter, compared to the consensus estimate of $466.86 million. Sell-side analysts forecast that Titan International, Inc. will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on TWI. Noble Financial initiated coverage on Titan International in a research report on Wednesday. They issued an "outperform" rating and a $11.00 target price on the stock. Wall Street Zen upgraded Titan International from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Cantor Fitzgerald assumed coverage on Titan International in a research note on Thursday, March 20th. They set an "overweight" rating and a $11.00 price objective for the company.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.