Ghisallo Capital Management LLC Makes New Investment in Titan America SA $TTAM

Key Points

• Ghisallo Capital Management LLC has acquired a new stake in Titan America SA, purchasing 240,000 shares valued at approximately $3.25 million, which represents about 0.13% ownership of the company.
• Titan America reported a 12-month low of $10.80 and a high of $17.78, with recently announced quarterly earnings showing an EPS of $0.28, missing estimates by $0.03.
• The company is set to pay a quarterly dividend of $0.04 per share on October 15th, with an annualized yield of 1.0% as per the latest announcement.

Ghisallo Capital Management LLC acquired a new position in Titan America SA (NYSE:TTAM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 240,000 shares of the company's stock, valued at approximately $3,245,000. Ghisallo Capital Management LLC owned 0.13% of Titan America as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. bought a new position in Titan America in the first quarter worth approximately $135,000. Cannon Global Investment Management LLC bought a new stake in shares of Titan America during the 1st quarter valued at $160,000. Venator Management LLC bought a new stake in shares of Titan America during the 1st quarter valued at $773,000. Seven Grand Managers LLC bought a new stake in shares of Titan America during the 1st quarter valued at $946,000. Finally, Eisler Capital Management Ltd. bought a new stake in shares of Titan America during the 1st quarter valued at $1,011,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TTAM. Stifel Nicolaus restated a "hold" rating and set a $15.00 price objective (down from $17.00) on shares of Titan America in a research report on Monday, July 28th. Bank of America restated an "underperform" rating and set a $14.00 price objective on shares of Titan America in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $17.07.

Titan America Stock Performance

Shares of Titan America stock traded up $0.06 during trading hours on Friday, reaching $15.41. The company's stock had a trading volume of 209,475 shares, compared to its average volume of 429,296. 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 has a 50 day moving average price of $14.47 and a 200-day moving average price of $13.88. Titan America SA has a one year low of $10.80 and a one year 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 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.03). The company had revenue of $429.24 million for the quarter, compared to the consensus estimate of $436.95 million. Titan America's revenue was down .9% on a year-over-year basis.

Titan America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, October 3rd.

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.