Diamond Hill Capital Management Inc. Invests $1.99 Million 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 position in Titan America SA (NYSE:TTAM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 147,175 shares of the company's stock, valued at approximately $1,990,000. Diamond Hill Capital Management Inc. owned about 0.08% of Titan America at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Cannon Global Investment Management LLC purchased a new stake in Titan America in the 1st quarter worth approximately $160,000. Teacher Retirement System of Texas purchased a new position in shares of Titan America in the 1st quarter valued at approximately $3,718,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Titan America in the 1st quarter valued at approximately $42,625,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TTAM shares. Stifel Nicolaus lowered their target price on Titan America from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, April 21st. The Goldman Sachs Group lowered their target price on Titan America from $19.00 to $16.50 and set a "neutral" rating for the company in a research note on Friday, March 28th. Finally, Bank of America restated an "underperform" rating and issued a $14.00 target price on shares of Titan America in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Titan America presently has an average rating of "Moderate Buy" and an average target price of $17.07.

Titan America Trading Down 1.0%

Titan America stock traded down $0.14 during mid-day trading on Friday, hitting $14.31. The company had a trading volume of 476,586 shares, compared to its average volume of 889,186. Titan America SA has a 12 month low of $10.80 and a 12 month high of $17.78. The business has a 50 day simple moving average of $13.65. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.45.

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

Titan America Dividend Announcement

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

Titan America Company 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.