Clear Harbor Asset Management LLC Purchases Shares of 155,835 Titan International, Inc. $TWI

Clear Harbor Asset Management LLC acquired a new stake in Titan International, Inc. (NYSE:TWI) in the second quarter, HoldingsChannel reports. The institutional investor acquired 155,835 shares of the industrial products company’s stock, valued at approximately $1,201,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Aip LLC acquired a new stake in shares of Titan International during the 2nd quarter valued at about $68,468,485,000. Donald Smith & CO. Inc. bought a new stake in Titan International in the second quarter valued at about $40,936,000. BlackRock Inc. acquired a new position in Titan International in the second quarter worth about $35,922,000. Invesco Ltd. raised its position in Titan International by 85.1% in the fourth quarter. Invesco Ltd. now owns 1,579,219 shares of the industrial products company’s stock worth $12,365,000 after purchasing an additional 725,926 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Titan International by 10.5% during the first quarter. Renaissance Technologies LLC now owns 2,477,119 shares of the industrial products company’s stock worth $17,117,000 after purchasing an additional 235,632 shares during the period. 80.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TWI has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Titan International in a report on Monday, July 20th. DA Davidson reissued a “buy” rating and issued a $13.00 target price on shares of Titan International in a report on Friday, June 12th. Finally, Wall Street Zen upgraded Titan International from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.00.

Titan International Stock Up 7.3%

TWI opened at $7.16 on Friday. The firm’s 50-day simple moving average is $7.40 and its 200-day simple moving average is $8.03. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.15 and a current ratio of 2.11. Titan International, Inc. has a twelve month low of $6.37 and a twelve month high of $11.70. The firm has a market cap of $462.11 million, a price-to-earnings ratio of -5.92 and a beta of 1.45.

Titan International (NYSE:TWI) last announced its earnings results on Thursday, July 30th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.15. Titan International had a negative net margin of 4.11% and a negative return on equity of 1.56%. The business had revenue of $484.77 million during the quarter, compared to analysts’ expectations of $480.06 million. Equities research analysts anticipate that Titan International, Inc. will post -0.13 EPS for the current fiscal year.

Titan International Company Profile

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.