Renaissance Technologies LLC Makes New Investment in Titan America SA $TTAM

Renaissance Technologies LLC acquired a new stake in shares of Titan America SA (NYSE:TTAM - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 99,400 shares of the company's stock, valued at approximately $1,489,000. Renaissance Technologies LLC owned approximately 0.05% of Titan America as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in TTAM. Public Employees Retirement System of Ohio purchased a new position in shares of Titan America in the 1st quarter valued at approximately $375,000. Sei Investments Co. grew its stake in Titan America by 23.2% in the first quarter. Sei Investments Co. now owns 131,242 shares of the company's stock worth $1,965,000 after purchasing an additional 24,672 shares during the period. PNC Financial Services Group Inc. raised its holdings in Titan America by 3.5% in the first quarter. PNC Financial Services Group Inc. now owns 26,946 shares of the company's stock worth $404,000 after purchasing an additional 920 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Titan America by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 55,975 shares of the company's stock valued at $839,000 after buying an additional 1,072 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Titan America during the first quarter valued at $1,167,000.

Titan America Stock Performance

TTAM stock opened at $15.99 on Thursday. The stock has a market capitalization of $2.95 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.02 and a beta of 1.07. The stock's 50 day simple moving average is $17.07 and its 200 day simple moving average is $16.75. Titan America SA has a 12-month low of $13.89 and a 12-month high of $19.57. The company has a current ratio of 2.08, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51.

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

Titan America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.04 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.16 annualized dividend and a yield of 1.0%. Titan America's dividend payout ratio is currently 16.67%.

Analyst Upgrades and Downgrades

TTAM has been the topic of a number of recent research reports. Citigroup upped their target price on shares of Titan America from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. HSBC cut shares of Titan America from a "buy" rating to a "hold" rating and set a $18.50 price target for the company. in a research report on Thursday, May 7th. Zacks Research upgraded shares of Titan America from a "strong sell" rating to a "hold" rating in a report on Thursday, May 21st. Weiss Ratings assumed coverage on shares of Titan America in a research note on Wednesday, July 29th. They set a "hold (c)" rating for the company. Finally, Stifel Nicolaus lifted their target price on shares of Titan America from $18.00 to $19.00 and gave the company a "hold" rating in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $19.30.

Titan America 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”).

Want to see what other hedge funds are holding TTAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Titan America SA (NYSE:TTAM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source