Donald Smith & CO. Inc. Acquires 258,581 Shares of Titan International, Inc. (NYSE:TWI)

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 its most recent Form 13F filing with the SEC. The institutional investor owned 759,486 shares of the industrial products company's stock after buying an additional 258,581 shares during the period. Donald Smith & CO. Inc. owned about 1.19% of Titan International worth $6,372,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in Titan International by 1.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,743,587 shares of the industrial products company's stock valued at $18,629,000 after acquiring an additional 27,616 shares during the last quarter. Geode Capital Management LLC boosted its position in Titan International by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,138,329 shares of the industrial products company's stock valued at $7,732,000 after acquiring an additional 5,940 shares during the last quarter. Royce & Associates LP boosted its position in Titan International by 1,059.1% during the first quarter. Royce & Associates LP now owns 918,114 shares of the industrial products company's stock valued at $7,703,000 after acquiring an additional 838,902 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Titan International by 38.6% during the first 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. Finally, Northern Trust Corp boosted its position in Titan International by 6.9% during the fourth quarter. Northern Trust Corp now owns 542,660 shares of the industrial products company's stock valued at $3,685,000 after acquiring an additional 35,159 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Titan International Stock Performance

NYSE TWI traded down $0.36 on Thursday, hitting $8.53. 214,130 shares of the stock traded hands, compared to its average volume of 676,286. Titan International, Inc. has a 12 month low of $5.93 and a 12 month high of $10.94. The firm has a market capitalization of $544.75 million, a price-to-earnings ratio of -27.50 and a beta of 2.05. 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 business's fifty day moving average is $9.34 and its two-hundred day moving average is $8.37.

Titan International (NYSE:TWI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported ($0.02) EPS 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 firm had revenue of $460.83 million during the quarter, compared to the consensus estimate of $483.84 million. As a group, equities analysts anticipate that Titan International, Inc. will post 0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. DA Davidson upped their price target on Titan International from $10.00 to $12.00 and gave the stock 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 note on Thursday, May 8th. Finally, Noble Financial assumed coverage on Titan International in a research note on Wednesday, June 4th. They set an "outperform" rating and a $11.00 price target on the stock.

Insiders Place Their Bets

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

Titan International Company 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.