Voss Capital LP Acquires 885,000 Shares of Titan America SA $TTAM

Key Points

• Voss Capital LP increased its stake in Titan America by 51.6% in the fourth quarter, buying 885,000 additional shares and bringing its total to 2.6 million shares, worth about $42.8 million.
• Wall Street sentiment on Titan America remains mixed: the stock currently has a consensus Hold rating with a $17.42 average price target, despite Citigroup recently raising its target to $20 and issuing a Buy rating.
• Titan America reported quarterly EPS of $0.18, missing estimates, and recently declared a $0.04 quarterly dividend payable July 7, which implies a 1.0% yield.

Voss Capital LP grew its holdings in shares of Titan America SA (NYSE:TTAM - Free Report) by 51.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,600,000 shares of the company's stock after purchasing an additional 885,000 shares during the quarter. Titan America comprises about 2.1% of Voss Capital LP's investment portfolio, making the stock its 17th biggest position. Voss Capital LP owned approximately 1.41% of Titan America worth $42,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Eagle Investment Management LLC raised its holdings in shares of Titan America by 38.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 355,610 shares of the company's stock valued at $5,313,000 after purchasing an additional 99,300 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Titan America by 46.0% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 293,928 shares of the company's stock valued at $4,844,000 after purchasing an additional 92,633 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Titan America by 98.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 94,162 shares of the company's stock valued at $1,552,000 after purchasing an additional 46,623 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Titan America in the 2nd quarter worth $28,000. Finally, De Lisle Partners LLP raised its holdings in Titan America by 5.5% in the 4th quarter. De Lisle Partners LLP now owns 129,429 shares of the company's stock worth $2,132,000 after acquiring an additional 6,741 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TTAM shares. Citigroup lifted their target price 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. Wall Street Zen downgraded shares of Titan America from a "buy" rating to a "hold" rating in a report on Monday, April 13th. HSBC downgraded shares of Titan America from a "buy" rating to a "hold" rating and set a $18.50 price objective on the stock. in a report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Titan America from a "strong sell" rating to a "hold" rating in a report on Thursday, May 21st. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.42.

Insider Buying and Selling at Titan America

In other Titan America news, CFO Lawrence Hugh Jr. Wilt bought 20,000 shares of the firm's stock in a transaction dated Thursday, March 19th. The shares were acquired at an average cost of $14.93 per share, for a total transaction of $298,600.00. Following the transaction, the chief financial officer owned 20,000 shares in the company, valued at approximately $298,600. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Titan America Stock Performance

NYSE:TTAM opened at $16.61 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.96 and a current ratio of 2.99. The firm's 50-day moving average is $16.01 and its 200-day moving average is $16.58. Titan America SA has a 52-week low of $12.18 and a 52-week high of $19.42. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.05 and a beta of 1.15.

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

Titan America Announces Dividend

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

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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