Ghisallo Capital Management LLC Purchases New Position 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 bought a new position in Titan America SA (NYSE:TTAM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 240,000 shares of the company's stock, valued at approximately $3,245,000. Ghisallo Capital Management LLC owned about 0.13% of Titan America as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in TTAM. PNC Financial Services Group Inc. bought a new stake in shares of Titan America in the 1st quarter worth about $135,000. Cannon Global Investment Management LLC acquired a new position in Titan America during the 1st quarter worth about $160,000. Venator Management LLC acquired a new position in Titan America during the 1st quarter worth about $773,000. Seven Grand Managers LLC acquired a new position in Titan America during the 1st quarter valued at about $946,000. Finally, Eisler Capital Management Ltd. acquired a new position in Titan America during the 1st quarter valued at about $1,011,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus reiterated a "hold" rating and issued a $15.00 price target (down from $17.00) on shares of Titan America in a research report on Monday, July 28th. Bank of America reiterated an "underperform" rating and issued a $14.00 price target on shares of Titan America in a research report on Thursday, July 24th. One investment 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 issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $17.07.

Titan America Stock Performance

Shares of TTAM traded up $0.35 during mid-day trading on Thursday, hitting $15.38. 333,330 shares of the company's stock were exchanged, compared to its average volume of 430,056. Titan America SA has a 52 week low of $10.80 and a 52 week high of $17.78. The company has a 50-day simple moving average of $14.42 and a 200 day simple moving average of $13.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.30 and a quick ratio of 1.36.

Titan America (NYSE:TTAM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.03). The firm 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% compared to the same quarter last year.

Titan America Announces Dividend

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

About Titan America

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.