UBS Group AG Sells 118,953 Shares of Titan America SA $TTAM

Key Points

• UBS Group AG reduced its Titan America stake by 26% in the fourth quarter, selling 118,953 shares and ending with 338,910 shares worth about $5.6 million.
• Titan America’s latest quarterly results missed expectations, reporting EPS of $0.18 versus the $0.20 consensus, even as revenue rose 1.5% year over year to $398.4 million.
• Analysts are mixed on the stock: HSBC and Wall Street Zen downgraded Titan America, while Citigroup raised its price target to $20; the overall consensus rating remains “Hold.”

UBS Group AG lowered its position in Titan America SA (NYSE:TTAM - Free Report) by 26.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 338,910 shares of the company's stock after selling 118,953 shares during the period. UBS Group AG owned about 0.18% of Titan America worth $5,585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TTAM. Rhumbline Advisers grew its position in Titan America by 3.0% in the 3rd quarter. Rhumbline Advisers now owns 24,073 shares of the company's stock worth $360,000 after purchasing an additional 691 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Titan America by 7.1% in the 3rd quarter. Intech Investment Management LLC now owns 13,622 shares of the company's stock worth $204,000 after buying an additional 898 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Titan America in the second quarter valued at approximately $28,000. Keybank National Association OH increased its position in shares of Titan America by 16.2% during the third quarter. Keybank National Association OH now owns 17,900 shares of the company's stock valued at $267,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Titan America by 12.8% during the third quarter. Barclays PLC now owns 49,898 shares of the company's stock valued at $745,000 after acquiring an additional 5,646 shares during the last quarter.

Insider Buying and Selling

In other Titan America news, CFO Lawrence Hugh Jr. Wilt acquired 20,000 shares of Titan America stock in a transaction that occurred on Thursday, March 19th. The stock was acquired at an average cost of $14.93 per share, for a total transaction of $298,600.00. Following the purchase, the chief financial officer owned 20,000 shares of the company's stock, valued at approximately $298,600. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Titan America Stock Up 1.5%

TTAM stock opened at $15.36 on Thursday. The stock has a fifty day moving average of $15.80 and a 200-day moving average of $16.51. Titan America SA has a fifty-two week low of $12.18 and a fifty-two week high of $19.42. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 0.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.96 and a current ratio of 2.99.

Titan America (NYSE:TTAM - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The firm had revenue of $398.42 million during the quarter. Titan America had a net margin of 11.08% and a return on equity of 18.35%. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. As a group, equities research analysts predict that Titan America SA will post 1.09 earnings per share for the current year.

Titan America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, June 18th. Titan America's dividend payout ratio is presently 15.84%.

Wall Street Analyst Weigh In

TTAM has been the subject of a number of recent analyst reports. HSBC downgraded Titan America from a "buy" rating to a "hold" rating and set a $18.50 price objective for the company. in a research note on Thursday, May 7th. Zacks Research lowered shares of Titan America from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 22nd. Wall Street Zen downgraded shares of Titan America from a "buy" rating to a "hold" rating in a research report on Monday, April 13th. Finally, Citigroup lifted their price target on shares of Titan America from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Titan America has a consensus rating of "Hold" and an average price target of $17.42.

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. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).

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