Burkehill Global Management LP Acquires Shares of 200,000 Titan America SA (NYSE:TTAM)

Key Points

• Burkehill Global Management LP made a new investment in Titan America SA by purchasing 200,000 shares for approximately $2.70 million, representing about 0.11% of the company's total shares.
• Titan America recently declared a quarterly dividend of $0.04 per share, payable on October 15, with an annualized yield of 1.1%.
• The company reported earnings of $0.28 per share for the last quarter, missing analysts' expectations of $0.31, and saw a slight year-over-year revenue decrease of 0.9%.

Burkehill Global Management LP purchased a new position in Titan America SA (NYSE:TTAM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 200,000 shares of the company's stock, valued at approximately $2,704,000. Burkehill Global Management LP owned about 0.11% of Titan America at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cannon Global Investment Management LLC acquired a new stake in shares of Titan America in the first quarter valued at about $160,000. Teacher Retirement System of Texas acquired a new stake in Titan America in the 1st quarter valued at approximately $3,718,000. Victory Capital Management Inc. bought a new position in Titan America in the 1st quarter worth approximately $42,625,000. Diamond Hill Capital Management Inc. acquired a new position in shares of Titan America during the first quarter worth approximately $1,990,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Titan America in the first quarter valued at approximately $135,000.

Analyst Ratings Changes

TTAM has been the subject of a number of research reports. Bank of America reissued an "underperform" rating and issued a $14.00 price target on shares of Titan America in a report on Thursday, July 24th. Stifel Nicolaus reiterated a "hold" rating and issued a $15.00 target price (down previously from $17.00) on shares of Titan America in a research note on Monday, July 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Titan America currently has an average rating of "Hold" and an average target price of $17.07.

Titan America Stock Performance

NYSE:TTAM traded up $0.17 during mid-day trading on Wednesday, hitting $15.62. The company's stock had a trading volume of 32,031 shares, compared to its average volume of 440,540. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $13.73. Titan America SA has a fifty-two week low of $10.80 and a fifty-two week high of $17.78.

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

Titan America Dividend Announcement

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

About Titan America

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.