Squarepoint Ops LLC Purchases New Position in Titan International, Inc. $TWI

Key Points

• Squarepoint Ops LLC acquired 157,049 shares of Titan International during the second quarter, valued at approximately $1.21 million. Institutional investors collectively own 80.39% of the company.
• Analyst sentiment is mixed, with one Buy and one Sell rating; MarketBeat lists a consensus rating of Hold and a $13.00 target price.
• Titan International reported quarterly EPS of $0.10, beating the expected loss of $0.05, while revenue of $484.77 million also exceeded estimates. Shares opened at $7.10, near the lower end of their 52-week range.

Squarepoint Ops LLC acquired a new stake in Titan International, Inc. (NYSE:TWI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 157,049 shares of the industrial products company's stock, valued at approximately $1,211,000. Squarepoint Ops LLC owned 0.24% of Titan International at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Aip LLC purchased a new stake in shares of Titan International during the 2nd quarter valued at about $68,468,485. Donald Smith & CO. Inc. purchased a new position in Titan International in the 2nd quarter worth approximately $40,936,000. BlackRock Inc. acquired a new stake in Titan International in the second quarter valued at approximately $35,922,000. Bank of America Corp DE acquired a new stake in Titan International in the second quarter valued at approximately $4,397,000. Finally, Empowered Funds LLC acquired a new stake in Titan International in the second quarter valued at approximately $2,857,000. Institutional investors and hedge funds own 80.39% of the company's stock.

Analysts Set New Price Targets

TWI has been the topic of a number of recent research reports. DA Davidson reissued a "buy" rating and set a $13.00 target price on shares of Titan International in a research report on Friday, June 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Titan International in a report on Monday, July 20th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $13.00.

Titan International Trading Down 1.1%

Shares of TWI opened at $7.10 on Thursday. The company has a market capitalization of $458.23 million, a P/E ratio of -5.87 and a beta of 1.46. Titan International, Inc. has a one year low of $6.37 and a one year high of $11.70. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.15 and a current ratio of 2.11. The stock has a 50-day moving average price of $7.36 and a 200 day moving average price of $7.59.

Titan International (NYSE:TWI - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.15. Titan International had a negative return on equity of 1.56% and a negative net margin of 4.11%.The company had revenue of $484.77 million for the quarter, compared to the consensus estimate of $480.06 million. Sell-side analysts forecast that Titan International, Inc. will post -0.12 EPS for the current fiscal year.

Titan International Profile

Titan International, Inc is a manufacturer of off-highway wheels, tires, and undercarriage systems. The company serves the agricultural, construction, earthmoving, mining, and other specialty vehicle markets, supplying products designed for equipment that operates in demanding conditions.

Its product portfolio includes agricultural and off-the-road tires, wheel assemblies, tracks, and undercarriage components. Titan provides products for original equipment manufacturers as well as replacement and aftermarket customers, supporting tractors, combines, loaders, excavators, and other heavy equipment.

Based in Quincy, Illinois, Titan International serves customers through manufacturing, distribution, and sales operations in North America and international markets.

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