Titan America (NYSE:TTAM) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Titan America SA (NYSE:TTAM) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $14.01 and traded as high as $14.45. Titan America shares last traded at $14.13, with a volume of 448,097 shares.

Analyst Upgrades and Downgrades

TTAM has been the topic of several recent analyst reports. Zacks Research cut shares of Titan America from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Stifel Nicolaus dropped their target price on shares of Titan America from $19.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, October 28th. Citigroup cut their target price on shares of Titan America from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. Finally, Weiss Ratings downgraded shares of Titan America from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, October 20th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Titan America currently has a consensus rating of “Hold” and an average price target of $18.10.

Titan America Trading Up 1.9%

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.17 and a current ratio of 2.08. The stock’s fifty day moving average is $14.01 and its 200 day moving average is $16.02. The stock has a market cap of $2.61 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.19 and a beta of 1.10.

Titan America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Friday, December 18th will be issued a $0.04 dividend. The ex-dividend date is Friday, December 18th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.1%. Titan America’s payout ratio is 16.67%.

Institutional Trading of Titan America

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Titan America in the second quarter valued at $7,623,000. Renaissance Technologies LLC bought a new stake in shares of Titan America in the 1st quarter worth about $1,489,000. Lazard Asset Management LLC purchased a new position in shares of Titan America during the 1st quarter worth about $1,452,000. Principal Financial Group Inc. purchased a new position in shares of Titan America during the 1st quarter worth about $1,167,000. Finally, Squarepoint Ops LLC bought a new position in Titan America during the 2nd quarter valued at about $915,000.

Titan America Company Profile

Titan America is a building materials company that produces and supplies cement, ready-mix concrete, aggregates and other construction products. Its materials are used in residential, commercial, infrastructure and other construction projects.

The company operates cement manufacturing facilities, distribution terminals, aggregate quarries and ready-mix concrete plants. Its product portfolio also includes concrete masonry products and related materials used by contractors, concrete producers and construction companies.

Titan America serves customers primarily across the eastern and southeastern United States, with operations and distribution capabilities covering markets including Florida, Virginia, the Carolinas, the Mid-Atlantic and the Northeast.