Principal Financial Group Inc. Makes New Investment in Titan America SA $TTAM

Key Points

• Principal Financial Group acquired 77,935 Titan America shares worth approximately $1.17 million in the first quarter, while several other institutional investors also increased their positions.
• Titan America reported quarterly EPS of $0.23, missing the $0.29 consensus estimate, although revenue rose 9.6% year over year to $470.63 million. Shares opened at $15.48, down 2.7%.
• Analysts hold a generally cautious view, with two Buy ratings and five Holds and an average price target of $19.30. The company also declared a quarterly dividend of $0.04, representing a 1.0% annualized yield.

Principal Financial Group Inc. acquired a new position in shares of Titan America SA (NYSE:TTAM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 77,935 shares of the company's stock, valued at approximately $1,167,000.

Several other hedge funds have also modified their holdings of the stock. Voss Capital LP grew its stake in Titan America by 51.6% during the 4th quarter. Voss Capital LP now owns 2,600,000 shares of the company's stock worth $42,848,000 after purchasing an additional 885,000 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Titan America by 46.0% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 293,928 shares of the company's stock worth $4,844,000 after purchasing an additional 92,633 shares during the period. River Road Asset Management LLC raised its position in Titan America by 3.5% in the 4th quarter. River Road Asset Management LLC now owns 3,856,334 shares of the company's stock valued at $63,552,000 after purchasing an additional 128,624 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Titan America by 98.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 94,162 shares of the company's stock valued at $1,552,000 after purchasing an additional 46,623 shares in the last quarter. Finally, Keybank National Association OH boosted its stake in shares of Titan America by 11.9% in the 1st quarter. Keybank National Association OH now owns 23,500 shares of the company's stock valued at $352,000 after buying an additional 2,500 shares during the period.

Titan America Stock Down 2.7%

Shares of NYSE TTAM opened at $15.48 on Friday. The business has a 50-day moving average of $17.07 and a two-hundred day moving average of $16.83. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. Titan America SA has a 1 year low of $13.78 and a 1 year high of $19.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.08 and a quick ratio of 1.96.

Titan America (NYSE:TTAM - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.06). Titan America had a net margin of 10.35% and a return on equity of 17.03%. The business had revenue of $470.63 million during the quarter. During the same quarter in the prior year, the firm posted $0.28 EPS. The business's revenue was up 9.6% on a year-over-year basis. On average, analysts forecast that Titan America SA will post 1.09 earnings per share for the current fiscal year.

Titan America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, October 1st. Titan America's dividend payout ratio is 16.67%.

Analyst Ratings Changes

A number of brokerages have recently commented on TTAM. Stifel Nicolaus boosted their price objective on Titan America from $18.00 to $19.00 and gave the stock a "hold" rating in a research report on Wednesday. Wall Street Zen cut shares of Titan America from a "buy" rating to a "hold" rating in a report on Monday, April 13th. Citigroup lifted their price target on shares of Titan America from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Zacks Research upgraded shares of Titan America from a "strong sell" rating to a "hold" rating in a report on Thursday, May 21st. Finally, HSBC downgraded shares of Titan America from a "buy" rating to a "hold" rating and set a $18.50 price objective on the stock. in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Titan America currently has an average rating of "Hold" and an average price target of $19.30.

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. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).

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