Titan International, Inc. (NYSE:TWI - Get Rating) traded down 6% during trading on Thursday following insider selling activity. The stock traded as low as $16.31 and last traded at $16.73. 8,028 shares traded hands during trading, a decline of 99% from the average session volume of 621,172 shares. The stock had previously closed at $17.80.Specifically, CEO Paul G. Reitz sold 40,000 shares of Titan International stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $17.95, for a total value of $718,000.00. Following the sale, the chief executive officer now directly owns 252,413 shares in the company, valued at $4,530,813.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 19.60% of the company's stock.
Separately, StockNews.com raised Titan International from a "hold" rating to a "buy" rating in a research report on Sunday, April 24th.
The business has a 50 day simple moving average of $16.71 and a 200-day simple moving average of $13.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.99 and a current ratio of 1.85. The stock has a market capitalization of $1.03 billion, a P/E ratio of 17.47 and a beta of 2.40.
Titan International (NYSE:TWI - Get Rating) last released its earnings results on Monday, May 2nd. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.15. Titan International had a return on equity of 37.62% and a net margin of 3.10%. The company had revenue of $556.00 million during the quarter, compared to analyst estimates of $506.33 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. Equities research analysts forecast that Titan International, Inc. will post 2.25 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Titan International by 0.4% during the first quarter. BlackRock Inc. now owns 8,370,377 shares of the industrial products company's stock worth $123,296,000 after purchasing an additional 29,288 shares during the period. Vanguard Group Inc. grew its holdings in Titan International by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 3,557,173 shares of the industrial products company's stock worth $52,397,000 after acquiring an additional 265,300 shares during the period. State Street Corp grew its holdings in Titan International by 6.4% during the 1st quarter. State Street Corp now owns 1,729,998 shares of the industrial products company's stock worth $25,483,000 after acquiring an additional 104,214 shares during the period. Invesco Ltd. grew its holdings in Titan International by 6.7% during the 1st quarter. Invesco Ltd. now owns 1,563,622 shares of the industrial products company's stock worth $23,032,000 after acquiring an additional 97,589 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Titan International by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 841,949 shares of the industrial products company's stock worth $6,028,000 after acquiring an additional 24,431 shares during the period. 75.23% of the stock is currently owned by institutional investors and hedge funds.
About Titan International (NYSE:TWI)
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, the Middle East, Africa, Russia, and internationally.
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