Titan America SA $TTAM Stake Boosted by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Titan America SA by 15.4% during Q2, owning approximately 2.4 million shares valued at nearly $29.5 million.
• Titan America reported $0.28 EPS for the last quarter, missing estimates, with a 0.9% year-over-year decrease in revenue to $429.24 million.
• The company declared a quarterly dividend of $0.04 per share, yielding 1.1%, with the dividend paid on October 15th to shareholders of record on October 3rd.

Allspring Global Investments Holdings LLC increased its holdings in Titan America SA (NYSE:TTAM - Free Report) by 15.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,406,290 shares of the company's stock after buying an additional 321,341 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.31% of Titan America worth $29,477,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. bought a new position in Titan America in the 1st quarter worth approximately $135,000. Cannon Global Investment Management LLC bought a new position in Titan America in the 1st quarter worth approximately $160,000. Venator Management LLC bought a new position in Titan America in the 1st quarter worth approximately $773,000. Seven Grand Managers LLC bought a new position in Titan America during the 1st quarter valued at $946,000. Finally, Eisler Capital Management Ltd. bought a new position in Titan America during the 1st quarter valued at $1,011,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on TTAM shares. Stifel Nicolaus reaffirmed a "hold" rating and set a $15.00 price target (down from $17.00) on shares of Titan America in a research note on Monday, July 28th. Bank of America reaffirmed an "underperform" rating and set a $14.00 price target on shares of Titan America in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Titan America has an average rating of "Hold" and a consensus price target of $17.07.

Titan America Stock Performance

Shares of NYSE:TTAM opened at $15.01 on Thursday. Titan America SA has a one year low of $10.80 and a one year high of $17.78. The stock has a fifty day moving average of $15.25 and a 200-day moving average of $14.04. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.45.

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

Titan America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Friday, October 3rd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, October 3rd.

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.

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