Titan America (NYSE:TTAM) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Titan America (NYSE:TTAM) from a strong sell rating to a hold rating in a research report released on Thursday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. Citigroup boosted their target price on shares of Titan America from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Wall Street Zen cut shares of Titan America from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.42.

Titan America Stock Down 1.6%

Shares of TTAM opened at $15.14 on Thursday. Titan America has a one year low of $12.18 and a one year high of $19.42. The company has a market cap of $2.79 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.98 and a beta of 1.24. 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 firm has a 50 day simple moving average of $15.76 and a two-hundred day simple moving average of $16.50.

Titan America (NYSE:TTAM) last posted its earnings results on Tuesday, May 5th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $398.42 million for the quarter. Titan America had a return on equity of 18.35% and a net margin of 11.08%.The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Research analysts forecast that Titan America will post 1.09 EPS for the current fiscal year.

Titan America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.16 annualized dividend and a dividend yield of 1.1%. Titan America’s payout ratio is currently 15.84%.

Insider Buying and Selling at Titan America

In other Titan America news, CFO Lawrence Hugh Jr. Wilt acquired 20,000 shares of Titan America stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average price of $14.93 per share, with a total value of $298,600.00. Following the completion of the purchase, the chief financial officer directly owned 20,000 shares in the company, valued at $298,600. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Trading of Titan America

Several institutional investors have recently modified their holdings of TTAM. Voss Capital LP grew its stake in shares of Titan America by 51.6% in the fourth quarter. Voss Capital LP now owns 2,600,000 shares of the company’s stock worth $42,848,000 after purchasing an additional 885,000 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Titan America in the first quarter worth $9,188,000. Invesco Ltd. grew its stake in shares of Titan America by 3,319.8% in the fourth quarter. Invesco Ltd. now owns 515,426 shares of the company’s stock worth $8,494,000 after purchasing an additional 500,354 shares during the last quarter. Geode Capital Management LLC bought a new stake in shares of Titan America in the second quarter worth $3,591,000. Finally, Victory Capital Management Inc. grew its stake in shares of 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 purchasing an additional 230,943 shares during the last quarter.

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. 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”).