Venator Management LLC Invests $773,000 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 purchased a new position in shares of Titan America SA (NYSE:TTAM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 57,176 shares of the company's stock, valued at approximately $773,000. Titan America comprises approximately 0.2% of Venator Management LLC's investment portfolio, making the stock its 21st largest holding.

Several other large investors have also modified their holdings of the stock. Voss Capital LP bought a new position in shares of Titan America during the first quarter worth about $10,641,000. American Century Companies Inc. bought a new position in Titan America in the first quarter worth about $67,597,000. Seven Grand Managers LLC bought a new position in Titan America in the first quarter worth about $946,000. Nuveen LLC bought a new position in Titan America in the first quarter worth about $4,947,000. Finally, Burkehill Global Management LP bought a new position in Titan America in the first quarter worth about $2,704,000.

Titan America Trading Down 4.4%

NYSE TTAM opened at $14.78 on Thursday. Titan America SA has a 12 month low of $10.80 and a 12 month high of $17.78. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.45. The company's 50 day moving average is $13.91.

Titan America (NYSE:TTAM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.03). The company had revenue of $429.24 million for the quarter, compared to analyst estimates of $436.95 million. The company's revenue for the quarter was down .9% on a year-over-year basis.

Titan America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Friday, October 3rd 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 1.1%. The ex-dividend date is Friday, October 3rd.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TTAM. Stifel Nicolaus restated a "hold" rating and issued a $15.00 price target (down previously from $17.00) on shares of Titan America in a research note on Monday, July 28th. Bank of America restated an "underperform" rating and issued a $14.00 price target on shares of Titan America in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Titan America currently has a consensus rating of "Hold" and an average price target of $17.07.

About Titan America

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.

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