Diamond Hill Capital Management Inc. Makes New Investment in Titan America SA (NYSE:TTAM)

Key Points

• Diamond Hill Capital Management Inc. has invested approximately $1.99 million in Titan America SA, acquiring 147,175 shares during the first quarter.
• Several other institutional investors have also increased their stakes in Titan America, with notable purchases including $42.625 million by Victory Capital Management Inc.
• Analysts have mixed views on the stock, with target price adjustments leading to an overall average rating of "Moderate Buy" and an average target price of $17.07.

Diamond Hill Capital Management Inc. acquired a new stake in Titan America SA (NYSE:TTAM - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 147,175 shares of the company's stock, valued at approximately $1,990,000. Diamond Hill Capital Management Inc. owned 0.08% of Titan America as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cannon Global Investment Management LLC bought a new stake in Titan America in the 1st quarter valued at about $160,000. Teacher Retirement System of Texas bought a new stake in shares of Titan America during the first quarter valued at about $3,718,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Titan America during the first quarter valued at about $42,625,000.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America reiterated an "underperform" rating and set a $14.00 price target on shares of Titan America in a research report on Thursday. Stifel Nicolaus reiterated 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $17.07.

Titan America Stock Performance

Shares of NYSE:TTAM traded down $0.35 during trading on Monday, reaching $14.00. 326,661 shares of the company traded hands, compared to its average volume of 441,605. Titan America SA has a 52-week low of $10.80 and a 52-week high of $17.78. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.36 and a current ratio of 2.30. The firm's fifty day simple moving average is $13.65.

Titan America (NYSE:TTAM - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The company had revenue of $392.44 million for the quarter, compared to analysts' expectations of $391.96 million. Titan America's revenue was down 1.9% compared to the same quarter last year.

Titan America Dividend Announcement

The firm also recently declared a -- dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were paid a $0.04 dividend. The ex-dividend date was Wednesday, June 4th.

Titan America Profile

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.