Millennium Management LLC Lowers Holdings in Titan International, Inc. (NYSE:TWI)

Millennium Management LLC reduced its stake in shares of Titan International, Inc. (NYSE:TWI - Free Report) by 49.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,723 shares of the industrial products company's stock after selling 41,122 shares during the quarter. Millennium Management LLC owned about 0.07% of Titan International worth $290,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TWI. Victory Capital Management Inc. increased its stake in Titan International by 21.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,953,866 shares of the industrial products company's stock worth $13,267,000 after acquiring an additional 344,658 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in Titan International during the fourth quarter worth approximately $1,482,000. First Eagle Investment Management LLC bought a new stake in Titan International during the fourth quarter worth approximately $1,211,000. Jane Street Group LLC increased its stake in Titan International by 105.6% during the fourth quarter. Jane Street Group LLC now owns 313,415 shares of the industrial products company's stock worth $2,128,000 after acquiring an additional 160,975 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Titan International by 342.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 84,302 shares of the industrial products company's stock worth $572,000 after acquiring an additional 119,051 shares during the last quarter. 80.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen raised Titan International from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Noble Financial started coverage on Titan International in a research note on Wednesday, June 4th. They set an "outperform" rating and a $11.00 price objective on the stock. Finally, Cantor Fitzgerald started coverage on Titan International in a research report on Thursday, March 20th. They set an "overweight" rating and a $11.00 target price for the company.

Titan International Trading Down 0.3%

Shares of NYSE:TWI traded down $0.03 during trading hours on Thursday, hitting $9.10. 365,785 shares of the company's stock traded hands, compared to its average volume of 717,495. Titan International, Inc. has a 1 year low of $5.93 and a 1 year high of $9.60. The business has a fifty day moving average price of $7.26 and a 200-day moving average price of $7.71. The firm has a market capitalization of $579.71 million, a P/E ratio of -75.83 and a beta of 1.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.38 and a quick ratio of 1.33.

Titan International (NYSE:TWI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). Titan International had a negative net margin of 0.51% and a positive return on equity of 5.76%. The business had revenue of $490.71 million for the quarter, compared to analysts' expectations of $466.86 million. Equities analysts expect that Titan International, Inc. will post 0.03 earnings per share for the current year.

Titan International 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.