Titan America (NYSE:TTAM) Hits New 1-Year High – Here’s What Happened

Titan America SA (NYSE:TTAM)’s share price reached a new 52-week high on Thursday . The stock traded as high as $19.46 and last traded at $19.50, with a volume of 32827 shares traded. The stock had previously closed at $18.77.

Analyst Upgrades and Downgrades

TTAM has been the subject of a number of research reports. Wall Street Zen downgraded shares of Titan America from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. HSBC cut shares of Titan America from a “buy” rating to a “hold” rating and set a $18.50 target price on the stock. in a research note on Thursday, May 7th. Citigroup raised their target price on shares of Titan America from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Zacks Research upgraded Titan America from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.42.

Titan America Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 2.99 and a quick ratio of 1.96. The stock has a market cap of $3.54 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.23 and a beta of 1.15. The business has a 50 day moving average price of $16.51 and a two-hundred day moving average price of $16.74.

Titan America (NYSE:TTAM) last issued its earnings results on Tuesday, May 5th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $398.42 million during the quarter. Titan America had a return on equity of 18.35% and a net margin of 11.08%.The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 earnings per share. As a group, equities research analysts forecast that Titan America SA will post 1.09 EPS for the current fiscal year.

Titan America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, June 18th. Titan America’s dividend payout ratio is currently 15.84%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Voss Capital LP lifted its holdings in Titan America by 51.6% in the 4th quarter. Voss Capital LP now owns 2,600,000 shares of the company’s stock worth $42,848,000 after buying an additional 885,000 shares during the period. Millennium Management LLC bought a new position in shares of Titan America during the first quarter valued at approximately $9,188,000. Invesco Ltd. raised its holdings in shares of Titan America by 3,319.8% during the fourth quarter. Invesco Ltd. now owns 515,426 shares of the company’s stock valued at $8,494,000 after acquiring an additional 500,354 shares in the last quarter. Geode Capital Management LLC purchased a new stake in Titan America in the second quarter worth $3,591,000. Finally, Victory Capital Management Inc. lifted its stake in Titan America by 7.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,417,804 shares of the company’s stock worth $56,325,000 after acquiring an additional 230,943 shares during the period.

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. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).