Seven Grand Managers LLC Invests $946,000 in Titan America SA $TTAM

Key Points

• Seven Grand Managers LLC has acquired 70,000 shares of Titan America SA for approximately $946,000 during the first quarter, marking a significant investment in the firm.
• Titan America reported a quarterly revenue of $429.24 million, slightly below analyst estimates, and an EPS of $0.28, missing expectations by $0.03.
• The company has declared a quarterly dividend of $0.04 per share with a 1.0% yield, payable on October 15th to shareholders of record as of October 3rd.

Seven Grand Managers LLC bought a new position in Titan America SA (NYSE:TTAM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 70,000 shares of the company's stock, valued at approximately $946,000.

Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new stake in shares of Titan America in the 1st quarter worth $135,000. Cannon Global Investment Management LLC bought a new position in Titan America during the first quarter valued at about $160,000. Diamond Hill Capital Management Inc. bought a new position in Titan America during the first quarter valued at about $1,990,000. Burkehill Global Management LP bought a new position in Titan America during the first quarter valued at about $2,704,000. Finally, Teacher Retirement System of Texas bought a new position in Titan America during the first quarter valued at about $3,718,000.

Wall Street Analyst Weigh In

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

Titan America Price Performance

NYSE TTAM traded down $0.68 during trading on Wednesday, hitting $14.78. 273,476 shares of the company's stock traded hands, compared to its average volume of 438,382. Titan America SA has a 12-month low of $10.80 and a 12-month high of $17.78. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.45. The business's 50 day simple moving average is $13.91.

Titan America (NYSE:TTAM - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.03). The business had revenue of $429.24 million for the quarter, compared to analyst estimates of $436.95 million. The company's quarterly revenue was down .9% compared to the same quarter last year.

Titan America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.16 annualized dividend and a yield of 1.1%.

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.