BlackRock Inc. Invests $35.92 Million in Titan International, Inc. $TWI

Key Points

• BlackRock acquired 4.66 million shares of Titan International in the second quarter, valued at approximately $35.9 million and representing a 7.22% stake. Institutional investors collectively own 80.39% of the company.
• Titan International reported quarterly EPS of $0.10, exceeding analysts’ expectation of a $0.05 loss, while revenue of $484.77 million also topped estimates. However, analysts project a full-year loss of $0.12 per share.
• The stock recently traded at $7.38, up 2.6%, while analyst sentiment remains mixed with an overall “Hold” rating and a consensus price target of $13.00.

BlackRock Inc. acquired a new stake in Titan International, Inc. (NYSE:TWI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,659,103 shares of the industrial products company's stock, valued at approximately $35,922,000. BlackRock Inc. owned 7.22% of Titan International as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TWI. Donald Smith & CO. Inc. lifted its position in Titan International by 59.1% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,491,649 shares of the industrial products company's stock worth $27,340,000 after buying an additional 1,297,542 shares during the period. Invesco Ltd. grew its holdings in Titan International by 85.1% in the 4th quarter. Invesco Ltd. now owns 1,579,219 shares of the industrial products company's stock valued at $12,365,000 after buying an additional 725,926 shares during the period. Renaissance Technologies LLC increased its stake in shares of Titan International by 10.5% during the 1st quarter. Renaissance Technologies LLC now owns 2,477,119 shares of the industrial products company's stock valued at $17,117,000 after acquiring an additional 235,632 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Titan International by 20.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,198,692 shares of the industrial products company's stock valued at $9,386,000 after acquiring an additional 207,425 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Titan International by 6.3% during the 1st 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. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Titan International Stock Up 2.6%

NYSE TWI opened at $7.38 on Wednesday. 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, Inc. has a fifty-two week low of $6.37 and a fifty-two week high of $11.70. The business has a 50 day moving average price of $7.35 and a two-hundred day moving average price of $7.83. The stock has a market cap of $476.31 million, a PE ratio of -6.10 and a beta of 1.46.

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

Analysts Set New Price Targets

Several research firms recently issued reports on TWI. Wall Street Zen raised shares of Titan International from a "sell" rating to a "hold" rating in a research report on Sunday, May 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Titan International in a research note on Monday, July 20th. Finally, DA Davidson reiterated a "buy" rating and issued a $13.00 price target on shares of Titan International in a report on Friday, June 12th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Titan International has an average rating of "Hold" and a consensus target price of $13.00.

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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