Brandywine Global Investment Management LLC Purchases New Stake in Titan International, Inc. $TWI

Key Points

• Brandywine Global Investment Management LLC has purchased a new stake of 230,000 shares in Titan International, Inc., valued at approximately $1.93 million, representing 0.36% ownership as of the latest SEC filing.
• Wall Street analysts have provided mixed views on Titan International, with DA Davidson upgrading the stock to a "buy" rating and raising the price target from $10.00 to $12.00.
• Titan International reported a quarterly earnings loss of ($0.02) EPS, falling short of analysts’ expectations, alongside a revenue of $460.83 million compared to anticipated $483.84 million.

Brandywine Global Investment Management LLC purchased a new stake in shares of Titan International, Inc. (NYSE:TWI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 230,000 shares of the industrial products company's stock, valued at approximately $1,930,000. Brandywine Global Investment Management LLC owned 0.36% of Titan International as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Titan International by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,628 shares of the industrial products company's stock worth $194,000 after purchasing an additional 1,216 shares during the period. SummerHaven Investment Management LLC boosted its position in Titan International by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 108,736 shares of the industrial products company's stock worth $912,000 after purchasing an additional 1,628 shares during the period. MetLife Investment Management LLC boosted its position in Titan International by 14.1% during the fourth quarter. MetLife Investment Management LLC now owns 26,763 shares of the industrial products company's stock worth $182,000 after purchasing an additional 3,310 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Titan International by 7.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,598 shares of the industrial products company's stock worth $398,000 after purchasing an additional 4,124 shares during the period. Finally, ProShare Advisors LLC boosted its position in Titan International by 45.2% during the fourth quarter. ProShare Advisors LLC now owns 15,098 shares of the industrial products company's stock worth $103,000 after purchasing an additional 4,702 shares during the period. Institutional investors own 80.39% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Titan International from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. DA Davidson increased their price target on shares of Titan International from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, Noble Financial started coverage on shares of Titan International in a report on Wednesday, June 4th. They issued an "outperform" rating and a $11.00 price target on the stock.

Titan International Trading Up 1.7%

Shares of Titan International stock opened at $8.65 on Tuesday. Titan International, Inc. has a 12-month low of $5.93 and a 12-month high of $10.94. The company has a market cap of $552.99 million, a price-to-earnings ratio of -27.92 and a beta of 2.05. The company has a current ratio of 2.35, a quick ratio of 1.27 and a debt-to-equity ratio of 0.98. The company's 50-day moving average price is $9.35 and its 200-day moving average price is $8.36.

Titan International (NYSE:TWI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The firm had revenue of $460.83 million during the quarter, compared to analysts' expectations of $483.84 million. Titan International had a negative return on equity of 1.62% and a negative net margin of 1.24%. On average, equities analysts expect that Titan International, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Anthony Eheli sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $9.24, for a total value of $231,000.00. Following the sale, the chief accounting officer directly owned 45,276 shares of the company's stock, valued at $418,350.24. This trade represents a 35.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard M. Cashin, Jr. sold 212,398 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $10.34, for a total transaction of $2,196,195.32. Following the completion of the sale, the director directly owned 176,461 shares in the company, valued at $1,824,606.74. This represents a 54.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,348 shares of company stock worth $3,086,520 over the last ninety days. 32.50% of the stock is currently owned by insiders.

Titan International Company Profile

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.

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