Burkehill Global Management LP Purchases New Holdings in 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 bought a new stake in Titan America SA (NYSE:TTAM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 200,000 shares of the company's stock, valued at approximately $2,704,000. Burkehill Global Management LP owned 0.11% of Titan America at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TTAM. PNC Financial Services Group Inc. acquired a new stake in Titan America during the 1st quarter worth about $135,000. Cannon Global Investment Management LLC acquired a new stake in Titan America during the 1st quarter worth about $160,000. Diamond Hill Capital Management Inc. acquired a new stake in Titan America during the 1st quarter worth about $1,990,000. Teacher Retirement System of Texas acquired a new stake in Titan America during the 1st quarter worth about $3,718,000. Finally, Victory Capital Management Inc. acquired a new stake in Titan America during the 1st quarter worth about $42,625,000.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TTAM shares. Bank of America reaffirmed an "underperform" rating and set a $14.00 price target on shares of Titan America in a research report on Thursday, July 24th. Stifel Nicolaus reaffirmed a "hold" rating and set a $15.00 price target (down from $17.00) on shares of Titan America in a research report on Monday, July 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Titan America presently has a consensus rating of "Hold" and a consensus price target of $17.07.

Titan America Trading Down 0.5%

Shares of TTAM stock traded down $0.08 during mid-day trading on Thursday, hitting $15.73. 352,422 shares of the stock were exchanged, compared to its average volume of 628,534. The stock's fifty day moving average price is $13.80. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.45. Titan America SA has a 52-week low of $10.80 and a 52-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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business's revenue for the quarter was down .9% compared to the same quarter last year.

Titan America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Friday, October 3rd will be paid a $0.04 dividend. 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%.

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.