Donald Smith & CO. Inc. Makes New $40.94 Million Investment in Titan International, Inc. $TWI

Key Points

• Donald Smith & Co. acquired 5.31 million Titan International shares worth approximately $40.94 million, representing about 8.23% of the company. Institutional investors collectively own 80.39% of Titan’s stock.
• Analyst sentiment is mixed: Titan has received “buy,” “hold,” and “sell” ratings, resulting in a consensus rating of “Hold” and a $13.00 average price target.
• Titan reported quarterly EPS of $0.10, beating the consensus estimate of a $0.05 loss, while revenue of $484.77 million also exceeded expectations. Shares opened at $7.16, near the lower end of their 52-week range.

Donald Smith & CO. Inc. purchased a new position in shares of Titan International, Inc. (NYSE:TWI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,309,428 shares of the industrial products company's stock, valued at approximately $40,936,000. Donald Smith & CO. Inc. owned approximately 8.23% of Titan International at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Aip LLC acquired a new position in Titan International in the second quarter valued at $68,468,485,000. BlackRock Inc. acquired a new stake in Titan International in the 2nd quarter worth about $35,922,000. Deutsche Bank AG acquired a new stake in Titan International in the 2nd quarter worth about $403,000. Bank of New York Mellon Corp purchased a new stake in Titan International in the 2nd quarter valued at about $1,374,000. Finally, State of Wyoming purchased a new stake in Titan International in the 2nd quarter valued at about $223,000. Institutional investors and hedge funds own 80.39% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TWI. Wall Street Zen upgraded shares of Titan International from a "sell" rating to a "hold" rating in a report on Sunday, May 10th. DA Davidson restated a "buy" rating and issued a $13.00 target price on shares of Titan International in a report on Friday, June 12th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Titan International in a research report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $13.00.

Titan International Price Performance

Shares of Titan International stock opened at $7.16 on Friday. Titan International, Inc. has a twelve month low of $6.37 and a twelve month high of $11.70. The stock has a market capitalization of $462.11 million, a P/E ratio of -5.92 and a beta of 1.45. The company has a current ratio of 2.11, a quick ratio of 1.15 and a debt-to-equity ratio of 1.10. The business's fifty day moving average price is $7.40 and its 200 day moving average price is $8.03.

Titan International (NYSE:TWI - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.15. The firm had revenue of $484.77 million during the quarter, compared to the consensus estimate of $480.06 million. Titan International had a negative return on equity of 1.56% and a negative net margin of 4.11%. As a group, research analysts anticipate that Titan International, Inc. will post -0.13 earnings per share for the current year.

Titan International Company Profile

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan's product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.

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