Titan America SA's Lock-Up Period Will Expire on August 6th (NYSE:TTAM)

Key Points

• Titan America's lock-up period is set to expire on August 6th, allowing major shareholders and insiders to sell their shares.
• The company reported a quarterly earnings per share (EPS) of $0.28, which was below the consensus estimate of $0.31.
• A quarterly dividend of $0.04 per share will be paid on October 15th, representing a yield of 1.17%.

Titan America's (NYSE:TTAM - Get Free Report) lock-up period will expire on Wednesday, August 6th. Titan America had issued 24,000,000 shares in its IPO on February 7th. The total size of the offering was $384,000,000 based on an initial share price of $16.00. After the end of Titan America's lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus reiterated a "hold" rating and issued a $15.00 target price (down previously from $17.00) on shares of Titan America in a report on Monday. Bank of America reiterated an "underperform" rating and issued a $14.00 price objective on shares of Titan America in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $17.07.

Titan America Trading Down 1.4%

TTAM opened at $13.68 on Wednesday. The business's 50-day moving average is $13.63. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.45. Titan America has a 52-week low of $10.80 and a 52-week high of $17.78.

Titan America (NYSE:TTAM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.03). The company's quarterly revenue was down .9% on a year-over-year basis.

Titan America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.17%.

Institutional Investors Weigh In On Titan America

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in shares of Titan America by 15.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,406,290 shares of the company's stock worth $29,477,000 after purchasing an additional 321,341 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Titan America during the first quarter worth approximately $1,266,000. Woodline Partners LP bought a new stake in shares of Titan America in the first quarter valued at approximately $2,028,000. Zimmer Partners LP acquired a new stake in shares of Titan America in the first quarter worth $30,799,000. Finally, Millennium Management LLC bought a new position in Titan America during the first quarter worth $9,188,000.

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.

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