Empowered Funds LLC Takes $2.86 Million Position in Titan International, Inc. $TWI

Empowered Funds LLC purchased a new position in Titan International, Inc. (NYSE:TWI) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 370,595 shares of the industrial products company’s stock, valued at approximately $2,857,000.

A number of other hedge funds also recently bought and sold shares of TWI. Aip LLC bought a new stake in Titan International during the 2nd quarter valued at about $68,468,485. Sei Investments Co. raised its holdings in Titan International by 99.4% in the first quarter. Sei Investments Co. now owns 369,535 shares of the industrial products company’s stock worth $2,553,000 after buying an additional 184,176 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Titan International by 10.5% in the first quarter. Renaissance Technologies LLC now owns 2,477,119 shares of the industrial products company’s stock worth $17,117,000 after buying an additional 235,632 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Titan International by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,426,873 shares of the industrial products company’s stock worth $23,678,000 after buying an additional 204,589 shares in the last quarter. Finally, TritonPoint Partners LLC purchased a new stake in shares of Titan International during the fourth quarter valued at approximately $1,116,000. Institutional investors own 80.39% of the company’s stock.

Titan International Stock Performance

Shares of TWI opened at $7.64 on Thursday. The firm has a market capitalization of $493.41 million, a P/E ratio of -6.32 and a beta of 1.46. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.11 and a quick ratio of 1.15. Titan International, Inc. has a one year low of $6.37 and a one year high of $11.70. The business has a fifty day moving average of $7.36 and a 200 day moving average of $7.80.

Titan International (NYSE:TWI) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.15. The company had revenue of $484.77 million for the quarter, compared to the consensus estimate of $480.06 million. Titan International had a negative return on equity of 1.56% and a negative net margin of 4.11%. As a group, sell-side analysts anticipate that Titan International, Inc. will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TWI. Wall Street Zen raised shares of Titan International from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Titan International in a research report on Monday, July 20th. Finally, DA Davidson reiterated a “buy” rating and set a $13.00 target price on shares of Titan International in a research note on Friday, June 12th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.00.

About Titan International

Titan International, Inc is a leading global manufacturer of wheels, tires and undercarriage systems designed for off-highway vehicles. The company serves a diverse range of markets including agricultural, construction, earthmoving and consumer segments. Titan’s product portfolio encompasses a variety of tire sizes and tread designs, steel and cast centers, wheels, tracks and complete wheel‐and‐tire assemblies tailored to meet the needs of tractors, combines, skid steers, loaders, haul trucks and other specialized equipment.

In addition to original equipment manufacturing, Titan provides extensive aftermarket support through its network of distributors and sales offices.