Titan America (NYSE:TTAM) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Titan America (NYSE:TTAM) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Titan America Trading Up 0.7%

Shares of TTAM stock opened at $16.24 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.87 and a current ratio of 2.95. The stock has a fifty day moving average of $15.17 and a two-hundred day moving average of $14.61. Titan America has a 1 year low of $10.80 and a 1 year high of $17.78. The firm has a market capitalization of $2.99 billion and a PE ratio of 16.40.

Titan America (NYSE:TTAM) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $436.85 million during the quarter, compared to analyst estimates of $439.30 million. Titan America had a net margin of 10.83% and a return on equity of 19.80%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Titan America has set its FY 2025 guidance at EPS.

Titan America Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, December 29th. Shareholders of record on Wednesday, December 17th will be given a $0.04 dividend. The ex-dividend date is Wednesday, December 17th. Titan America’s dividend payout ratio is 16.16%.

Institutional Investors Weigh In On Titan America

Institutional investors and hedge funds have recently made changes to their positions in the company. Voss Capital LP lifted its holdings in Titan America by 13.3% during the 3rd quarter. Voss Capital LP now owns 1,715,000 shares of the company’s stock valued at $25,622,000 after purchasing an additional 201,577 shares during the last quarter. Venator Management LLC boosted its holdings in shares of Titan America by 52.6% in the 3rd quarter. Venator Management LLC now owns 458,650 shares of the company’s stock worth $6,852,000 after acquiring an additional 158,050 shares in the last quarter. Verition Fund Management LLC bought a new stake in Titan America during the 3rd quarter worth approximately $180,000. SIH Partners LLLP increased its holdings in Titan America by 174.5% during the 3rd quarter. SIH Partners LLLP now owns 36,873 shares of the company’s stock valued at $551,000 after purchasing an additional 23,440 shares in the last quarter. Finally, Millennium Management LLC raised its position in Titan America by 2,221.1% in the 3rd quarter. Millennium Management LLC now owns 362,258 shares of the company’s stock valued at $5,412,000 after purchasing an additional 346,651 shares during the last quarter.

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.