Titan International, Inc. (NYSE:TWI) Shares Acquired by Donald Smith & CO. Inc.

Key Points

• Donald Smith & CO. Inc. increased its holdings in Titan International by 51.6%, acquiring an additional 258,581 shares which now totals 759,486 shares valued at approximately $6,372,000.
• Titan International's stock price experienced a 4.7% decrease, closing at $8.21, with a reported EPS of ($0.02) for the last quarter, missing estimates.
• Several brokerages have upgraded Titan International's stock ratings, with DA Davidson raising the price target from $10.00 to $12.00 and giving a "buy" rating.

Donald Smith & CO. Inc. lifted its stake in shares of Titan International, Inc. (NYSE:TWI - Free Report) by 51.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 759,486 shares of the industrial products company's stock after buying an additional 258,581 shares during the quarter. Donald Smith & CO. Inc. owned about 1.19% of Titan International worth $6,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in TWI. Royce & Associates LP boosted its holdings in shares of Titan International by 1,059.1% in the 1st quarter. Royce & Associates LP now owns 918,114 shares of the industrial products company's stock worth $7,703,000 after purchasing an additional 838,902 shares in the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Titan International in the 4th quarter worth about $1,482,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Titan International by 38.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 685,446 shares of the industrial products company's stock valued at $5,751,000 after acquiring an additional 191,035 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Titan International by 105.6% in the 4th quarter. Jane Street Group LLC now owns 313,415 shares of the industrial products company's stock valued at $2,128,000 after acquiring an additional 160,975 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Titan International in the 4th quarter valued at about $862,000. Institutional investors and hedge funds own 80.39% of the company's stock.

Insider Activity

In other Titan International news, Director Richard M. Cashin, Jr. sold 212,398 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $10.34, for a total value of $2,196,195.32. Following the completion of the sale, the director owned 176,461 shares in the company, valued at approximately $1,824,606.74. This represents a 54.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Anthony Eheli sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $9.24, for a total transaction of $231,000.00. Following the sale, the chief accounting officer owned 45,276 shares of the company's stock, valued at $418,350.24. This represents a 35.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,348 shares of company stock valued at $3,086,520. Insiders own 32.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TWI shares. DA Davidson boosted their target price on Titan International from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Wall Street Zen raised Titan International from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Noble Financial initiated coverage on Titan International in a research report on Wednesday, June 4th. They set an "outperform" rating and a $11.00 price target for the company.

Titan International Stock Performance

Shares of NYSE TWI traded up $0.50 during midday trading on Wednesday, hitting $8.88. 574,226 shares of the company's stock traded hands, compared to its average volume of 679,397. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.27 and a current ratio of 2.35. The firm has a fifty day moving average of $9.32 and a 200 day moving average of $8.37. The stock has a market capitalization of $567.43 million, a price-to-earnings ratio of -28.64 and a beta of 2.05. 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 posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Titan International had a negative net margin of 1.24% and a negative return on equity of 1.62%. The company had revenue of $460.83 million for the quarter, compared to the consensus estimate of $483.84 million. On average, analysts forecast that Titan International, Inc. will post 0.03 earnings per share for the current 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.