Titan International (NYSE:TWI) Shares Up 8.2% After Dividend Announcement

Titan International Inc (NYSE:TWI) shares traded up 8.2% on Monday following a dividend announcement from the company. The stock traded as high as $2.70 and last traded at $2.64, 455,849 shares were traded during trading. An increase of 5% from the average session volume of 432,249 shares. The stock had previously closed at $2.44.

The newly announced dividend which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.005 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.02 annualized dividend and a dividend yield of 0.70%. Titan International’s dividend payout ratio is currently 7.41%.

TWI has been the subject of a number of recent research reports. Zacks Investment Research cut Titan International from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Sidoti set a $8.00 target price on shares of Titan International and gave the company a “buy” rating in a research note on Wednesday, June 26th. ValuEngine upgraded shares of Titan International from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, TheStreet cut shares of Titan International from a “c-” rating to a “d+” rating in a research note on Friday, August 2nd.



The stock’s 50-day moving average is $2.95 and its 200-day moving average is $4.72. The stock has a market cap of $158.84 million, a price-to-earnings ratio of 10.74 and a beta of 2.17. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.00 and a quick ratio of 1.02.

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

In related news, Director Maurice M. Taylor, Jr. acquired 18,570 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average cost of $2.97 per share, for a total transaction of $55,152.90. Following the acquisition, the director now directly owns 702,889 shares in the company, valued at approximately $2,087,580.33. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Maurice M. Taylor, Jr. acquired 139,214 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $3.04 per share, for a total transaction of $423,210.56. Following the completion of the acquisition, the director now owns 619,477 shares in the company, valued at $1,883,210.08. The disclosure for this purchase can be found here. Insiders have bought 171,589 shares of company stock worth $520,055 in the last 90 days. Insiders own 17.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TWI. Bank of America Corp DE increased its position in Titan International by 113.5% during the fourth quarter. Bank of America Corp DE now owns 59,260 shares of the industrial products company’s stock worth $276,000 after purchasing an additional 31,509 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Titan International by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,351,692 shares of the industrial products company’s stock valued at $20,279,000 after buying an additional 31,199 shares during the period. Deutsche Bank AG grew its stake in shares of Titan International by 4.6% during the 4th quarter. Deutsche Bank AG now owns 105,302 shares of the industrial products company’s stock valued at $489,000 after buying an additional 4,625 shares during the period. Strs Ohio acquired a new stake in shares of Titan International during the 1st quarter worth $39,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Titan International by 337.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,087 shares of the industrial products company’s stock worth $66,000 after buying an additional 8,552 shares during the last quarter. 85.60% of the stock is currently owned by institutional investors and hedge funds.

Titan International Company Profile (NYSE:TWI)

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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