Royce & Associates LP Grows Stake in Titan International, Inc. (NYSE:TWI)

Key Points

• Royce & Associates LP increased its stake in Titan International, owning approximately 1.44% after purchasing an additional 838,902 shares, raising its total to 918,114 shares valued at $7.7 million.
• Titan International reported a loss per share of $0.01 for the most recent quarter, missing the consensus estimate, though it exceeded revenue expectations with $490.71 million in revenue.
• Insider transactions showed significant selling activity, with Director Richard M. Cashin Jr. and CAO Anthony Eheli reducing their stakes by 54.62% and 35.57% respectively over recent months.

Royce & Associates LP lifted its position in shares of Titan International, Inc. (NYSE:TWI - Free Report) by 1,059.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 918,114 shares of the industrial products company's stock after buying an additional 838,902 shares during the quarter. Royce & Associates LP owned approximately 1.44% of Titan International worth $7,703,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new stake in Titan International in the fourth quarter worth about $54,000. First Trust Advisors LP purchased a new stake in shares of Titan International in the 4th quarter worth approximately $74,000. Balyasny Asset Management L.P. purchased a new stake in shares of Titan International in the 4th quarter worth approximately $74,000. Sigma Planning Corp bought a new position in shares of Titan International during the first quarter valued at approximately $101,000. Finally, ProShare Advisors LLC increased its holdings in Titan International by 45.2% during the fourth quarter. ProShare Advisors LLC now owns 15,098 shares of the industrial products company's stock valued at $103,000 after buying an additional 4,702 shares during the period. Hedge funds and other institutional investors own 80.39% of the company's stock.

Titan International Trading Down 1.8%

NYSE:TWI opened at $9.58 on Friday. The stock has a market capitalization of $609.99 million, a price-to-earnings ratio of -45.60 and a beta of 2.03. Titan International, Inc. has a 52 week low of $5.93 and a 52 week high of $10.94. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average of $8.98 and a 200 day moving average of $8.26.

Titan International (NYSE:TWI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). The business had revenue of $490.71 million for the quarter, compared to analysts' expectations of $466.86 million. Titan International had a negative net margin of 0.83% and a negative return on equity of 0.05%. As a group, sell-side analysts anticipate that Titan International, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at Titan International

In related news, Director Richard M. Cashin, Jr. sold 212,398 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $10.34, for a total value of $2,196,195.32. Following the completion of the transaction, the director directly owned 176,461 shares of the company's stock, valued at $1,824,606.74. This trade represents a 54.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Anthony Eheli sold 25,000 shares of Titan International stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $9.24, for a total transaction of $231,000.00. Following the completion of the sale, the chief accounting officer owned 45,276 shares of the company's stock, valued at $418,350.24. This trade represents a 35.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,348 shares of company stock valued at $3,086,520. 25.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. DA Davidson boosted their price objective on shares of Titan International from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Wall Street Zen raised Titan International from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Noble Financial initiated coverage on Titan International in a research report on Wednesday, June 4th. They set an "outperform" rating and a $11.00 price objective on the stock.

Titan International Company Profile

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.

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