Victory Capital Management Inc. Trims Position in Titan International, Inc. (NYSE:TWI)

Victory Capital Management Inc. trimmed its holdings in shares of Titan International, Inc. (NYSE:TWI - Free Report) by 17.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,613,524 shares of the industrial products company's stock after selling 340,342 shares during the period. Victory Capital Management Inc. owned about 2.53% of Titan International worth $13,537,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Sigma Planning Corp purchased a new position in shares of Titan International during the 1st quarter worth approximately $101,000. Greenleaf Trust purchased a new position in shares of Titan International during the 1st quarter worth approximately $140,000. Principal Financial Group Inc. raised its stake in shares of Titan International by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 239,093 shares of the industrial products company's stock worth $2,006,000 after buying an additional 6,274 shares in the last quarter. Mutual Advisors LLC purchased a new position in shares of Titan International during the 1st quarter worth approximately $951,000. Finally, Capital Investment Counsel Inc raised its stake in shares of Titan International by 7.6% during the 1st quarter. Capital Investment Counsel Inc now owns 154,853 shares of the industrial products company's stock worth $1,299,000 after buying an additional 10,975 shares in the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

TWI has been the topic of a number of research reports. DA Davidson upped their price target on Titan International from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday. Wall Street Zen upgraded Titan International from a "sell" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Noble Financial initiated coverage on Titan International in a report on Wednesday, June 4th. They set an "outperform" rating and a $11.00 target price on the stock.

Titan International Price Performance

NYSE:TWI traded down $0.17 during trading hours on Friday, reaching $9.58. 273,153 shares of the company traded hands, compared to its average volume of 523,798. The firm's 50-day moving average is $8.98 and its 200-day moving average is $8.25. The stock has a market cap of $610.03 million, a P/E ratio of -45.60 and a beta of 2.03. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.26 and a quick ratio of 1.25. Titan International, Inc. has a 1-year low of $5.93 and a 1-year high of $10.94.

Titan International (NYSE:TWI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The company had revenue of $490.71 million for the quarter, compared to analyst estimates of $466.86 million. Titan International had a negative net margin of 0.83% and a negative return on equity of 0.05%. Equities research analysts expect that Titan International, Inc. will post 0.03 earnings per share for the current fiscal year.

About Titan International

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.