Venator Management LLC Takes $773,000 Position in Titan America SA $TTAM

Key Points

• Venator Management LLC has invested approximately $773,000 in Titan America SA, acquiring 57,176 shares, which makes it the firm’s 21st largest holding.
• Titan America recently posted a quarterly earnings per share (EPS) of $0.28, falling short of analysts' estimates of $0.31, with revenue slightly down 0.9% year-over-year.
• The company announced a quarterly dividend of $0.04 per share, set to be paid on October 15th, reflecting an annualized yield of 1.1%.

Venator Management LLC acquired a new stake in Titan America SA (NYSE:TTAM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 57,176 shares of the company's stock, valued at approximately $773,000. Titan America comprises 0.2% of Venator Management LLC's holdings, making the stock its 21st largest position.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. acquired a new position in shares of Titan America in the first quarter valued at approximately $135,000. Cannon Global Investment Management LLC acquired a new position in Titan America during the first quarter worth approximately $160,000. Seven Grand Managers LLC acquired a new position in Titan America during the first quarter worth approximately $946,000. Diamond Hill Capital Management Inc. acquired a new position in Titan America during the first quarter worth approximately $1,990,000. Finally, Burkehill Global Management LP acquired a new position in Titan America during the first quarter worth approximately $2,704,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TTAM shares. Bank of America reaffirmed an "underperform" rating and set a $14.00 price target on shares of Titan America in a research report on Thursday, July 24th. Stifel Nicolaus reaffirmed a "hold" rating and set a $15.00 price target (down previously from $17.00) on shares of Titan America in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $17.07.

Titan America Price Performance

TTAM traded up $0.20 during trading on Tuesday, hitting $15.81. 120,680 shares of the company's stock were exchanged, compared to its average volume of 432,643. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.45. Titan America SA has a 1 year low of $10.80 and a 1 year high of $17.78. The stock's 50 day moving average is $14.06.

Titan America (NYSE:TTAM - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.03). The firm had revenue of $429.24 million for the quarter, compared to analyst estimates of $436.95 million. The firm's quarterly revenue was down .9% compared to the same quarter last year.

Titan America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Friday, October 3rd will be paid a $0.04 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.16 annualized dividend and a dividend yield of 1.0%.

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.