Titan America SA’s Lock-Up Period Set To End Tomorrow (NYSE:TTAM)

Titan America’s (NYSE:TTAM) 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. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Bank of America reaffirmed an “underperform” rating and set a $14.00 price objective on shares of Titan America in a research note on Thursday, July 24th. Stifel Nicolaus reaffirmed a “hold” rating and set a $15.00 price objective (down previously from $17.00) on shares of Titan America in a research note on Monday, July 28th. One 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.07.

Titan America Price Performance

Titan America stock opened at $14.38 on Tuesday. The company has a fifty day moving average of $13.67. Titan America has a 1 year low of $10.80 and a 1 year high of $17.78. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.36 and a current ratio of 2.30.

Titan America (NYSE:TTAM) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). The company had revenue of $429.24 million for the quarter, compared to analysts’ expectations of $436.95 million. The business’s revenue was down .9% on a year-over-year basis.

Titan America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, October 3rd.

Institutional Investors Weigh In On Titan America

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas acquired a new stake in Titan America during the 1st quarter worth $3,718,000. Diamond Hill Capital Management Inc. acquired a new stake in Titan America during the 1st quarter worth $1,990,000. Victory Capital Management Inc. acquired a new stake in Titan America during the 1st quarter worth $42,625,000. Cannon Global Investment Management LLC acquired a new stake in Titan America during the 1st quarter worth $160,000. Finally, Aperture Investors LLC acquired a new stake in Titan America during the 1st quarter worth $1,054,000.

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.