Titan America (NYSE:TTAM) Sets New 12-Month Low - Here's Why

Key Points

• Titan America shares fell to a new 52-week low of $13.28, trading below both their 50-day moving average of $15.60 and 200-day moving average of $16.09.
• The company’s latest quarterly EPS of $0.23 missed analyst expectations of $0.29, although revenue increased 9.6% year over year to $470.63 million.
• Analyst sentiment remains cautious, with two Buy ratings and five Holds producing an average rating of “Hold” and a $19.30 price target; Titan America also announced a quarterly dividend of $0.04 per share.

Titan America SA (NYSE:TTAM - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $13.28 and last traded at $13.84, with a volume of 328333 shares changing hands. The stock had previously closed at $13.32.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of Titan America from $18.00 to $19.00 and gave the stock a "hold" rating in a research note on Wednesday, July 29th. Citigroup boosted their price target on shares of Titan America from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings cut shares of Titan America from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $19.30.

Titan America Price Performance

The stock has a fifty day moving average of $15.60 and a two-hundred day moving average of $16.09. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 0.85 and a beta of 1.05. The company has a quick ratio of 1.17, a current ratio of 2.08 and a debt-to-equity ratio of 0.51.

Titan America (NYSE:TTAM - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.06). Titan America had a net margin of 10.35% and a return on equity of 17.03%. The business had revenue of $470.63 million during the quarter. During the same period in the prior year, the business posted $0.28 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts anticipate that Titan America SA will post 1.09 earnings per share for the current year.

Titan America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. Titan America's payout ratio is currently 16.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Titan America by 3.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 26,026 shares of the company's stock worth $429,000 after acquiring an additional 823 shares in the last quarter. Ancora Advisors LLC increased its stake in Titan America by 0.6% in the 2nd quarter. Ancora Advisors LLC now owns 161,220 shares of the company's stock valued at $3,008,000 after purchasing an additional 1,020 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Titan America by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 55,975 shares of the company's stock worth $839,000 after purchasing an additional 1,072 shares during the last quarter. Keybank National Association OH boosted its position in Titan America by 11.9% during the first quarter. Keybank National Association OH now owns 23,500 shares of the company's stock worth $352,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Titan America by 2,018.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,271 shares of the company's stock valued at $103,000 after purchasing an additional 5,975 shares during the last quarter.

About Titan America

Titan America is a building materials company that produces and supplies cement, ready-mix concrete, aggregates and other products used in residential, commercial and infrastructure construction. Its portfolio also includes concrete blocks and related construction materials, as well as supplementary cementitious materials that can be used in concrete production.

The company serves customers across the eastern United States through a network of cement plants, terminals, quarries, ready-mix concrete facilities and other distribution assets.

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