Titan America (NYSE:TTAM) Trading Down 1% - Here's Why

Titan America SA (NYSE:TTAM - Get Free Report) shares fell 1% on Tuesday . The company traded as low as $13.88 and last traded at $13.91. 92,824 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 357,724 shares. The stock had previously closed at $14.05.

Analysts Set New Price Targets

A number of research firms have commented on TTAM. Stifel Nicolaus reduced their price objective on shares of Titan America from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Jefferies Financial Group began coverage on shares of Titan America in a report on Wednesday, March 5th. They set a "buy" rating and a $19.00 target price for the company. The Goldman Sachs Group decreased their price target on shares of Titan America from $19.00 to $16.50 and set a "neutral" rating on the stock in a research note on Friday, March 28th. Sanford C. Bernstein began coverage on shares of Titan America in a research report on Tuesday, March 4th. They set a "market perform" rating and a $17.00 price objective for the company. Finally, Hsbc Global Res upgraded Titan America to a "strong-buy" rating in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.29.

Titan America Trading Down 4.8%

The company has a 50-day moving average of $13.36.

Titan America (NYSE:TTAM - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $392.44 million during the quarter, compared to the consensus estimate of $391.96 million. The company's quarterly revenue was down 1.9% compared to the same quarter last year.

Titan America Announces Dividend

The business also recently announced a -- dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, June 4th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. acquired a new stake in Titan America during the first quarter worth about $67,597,000. Victory Capital Management Inc. acquired a new stake in shares of Titan America during the 1st quarter worth approximately $42,625,000. Alliancebernstein L.P. bought a new position in Titan America in the first quarter valued at approximately $33,017,000. Zimmer Partners LP acquired a new position in Titan America during the first quarter valued at approximately $30,799,000. Finally, Voss Capital LP bought a new stake in Titan America during the first quarter worth $10,641,000.

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.