Empowered Funds LLC Takes Position in Titan International, Inc. $TWI

Key Points

• Empowered Funds LLC acquired 370,595 shares of Titan International in the second quarter, worth approximately $2.86 million and representing 0.57% of the company. Institutional investors collectively own 80.39% of Titan’s stock.
• 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. However, the company maintained negative net margins and analysts expect a full-year loss.
• The stock opened at $7.64, compared with a 52-week range of $6.37 to $11.70. Analyst sentiment is mixed, resulting in a consensus “Hold” rating and a $13.00 average price target.

Empowered Funds LLC bought a new position in Titan International, Inc. (NYSE:TWI - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 370,595 shares of the industrial products company's stock, valued at approximately $2,857,000. Empowered Funds LLC owned 0.57% of Titan International as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of Titan International during the second quarter valued at about $65,000. Bank of America Corp DE bought a new stake in Titan International in the 2nd quarter worth $4,397,000. Hsbc Holdings PLC bought a new position in shares of Titan International during the second quarter valued at about $565,000. Legal & General Group Plc purchased a new stake in shares of Titan International during the second quarter worth about $40,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Titan International in the second quarter worth about $126,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Titan International Price Performance

Shares of TWI opened at $7.64 on Thursday. Titan International, Inc. has a fifty-two week low of $6.37 and a fifty-two week high of $11.70. The firm's 50-day simple moving average is $7.36 and its two-hundred day simple moving average is $7.80. The stock has a market cap of $493.41 million, a PE ratio of -6.32 and a beta of 1.46. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.15 and a current ratio of 2.11.

Titan International (NYSE:TWI - Get Free Report) last released its earnings results on Thursday, July 30th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.15. Titan International had a negative net margin of 4.11% and a negative return on equity of 1.56%. The firm had revenue of $484.77 million during the quarter, compared to analyst estimates of $480.06 million. Analysts anticipate that Titan International, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Titan International in a research report on Monday, July 20th. DA Davidson reiterated a "buy" rating and issued a $13.00 price objective on shares of Titan International in a research report on Friday, June 12th. Finally, Wall Street Zen raised Titan International from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $13.00.

About Titan International

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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