Insider Buying: Titan International Inc (NYSE:TWI) Director Buys 13,805 Shares of Stock

Titan International Inc (NYSE:TWI) Director Maurice M. Taylor, Jr. purchased 13,805 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $3.02 per share, for a total transaction of $41,691.10. Following the completion of the purchase, the director now directly owns 702,889 shares in the company, valued at $2,122,724.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Titan International stock opened at $2.81 on Friday. Titan International Inc has a 1 year low of $2.72 and a 1 year high of $8.40. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 2.00. The company has a market capitalization of $183.51 million, a P/E ratio of 10.41 and a beta of 2.04. The company’s fifty day moving average is $3.89 and its two-hundred day moving average is $5.11.

Titan International (NYSE:TWI) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.25). Titan International had a negative return on equity of 5.32% and a negative net margin of 1.31%. The business had revenue of $390.60 million for the quarter, compared to analysts’ expectations of $440.38 million. During the same period in the previous year, the business posted $0.02 earnings per share. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. As a group, equities analysts expect that Titan International Inc will post -0.22 earnings per share for the current year.

Several equities research analysts recently commented on TWI shares. Sidoti set a $8.00 price target on shares of Titan International and gave the stock a “buy” rating in a research note on Wednesday, June 26th. TheStreet lowered shares of Titan International from a “c-” rating to a “d+” rating in a research note on Friday, August 2nd. Zacks Investment Research lowered shares of Titan International from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, ValuEngine upgraded shares of Titan International from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Titan International by 2.4% during the 2nd quarter. BlackRock Inc. now owns 8,043,435 shares of the industrial products company’s stock worth $39,331,000 after purchasing an additional 185,768 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Titan International by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,351,692 shares of the industrial products company’s stock valued at $20,279,000 after acquiring an additional 31,199 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Titan International by 3.4% during the second quarter. Renaissance Technologies LLC now owns 3,280,300 shares of the industrial products company’s stock valued at $16,041,000 after acquiring an additional 109,100 shares during the period. Fishman Jay A Ltd. MI lifted its holdings in shares of Titan International by 1.4% during the first quarter. Fishman Jay A Ltd. MI now owns 2,816,972 shares of the industrial products company’s stock valued at $16,817,000 after acquiring an additional 38,450 shares during the period. Finally, Rutabaga Capital Management LLC MA lifted its holdings in shares of Titan International by 117.4% during the second quarter. Rutabaga Capital Management LLC MA now owns 2,183,705 shares of the industrial products company’s stock valued at $10,678,000 after acquiring an additional 1,179,157 shares during the period. 84.94% of the stock is currently owned by institutional investors.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.

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