107,108 Shares of Titan International, Inc. $TWI Purchased by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC purchased a new stake in shares of Titan International, Inc. (NYSE:TWI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 107,108 shares of the industrial products company’s stock, valued at approximately $726,000. SummerHaven Investment Management LLC owned 0.17% of Titan International as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Titan International in the 2nd quarter worth approximately $35,922,000. Aip LLC bought a new stake in Titan International in the second quarter valued at approximately $68,468,485. Bank of New York Mellon Corp bought a new stake in Titan International in the second quarter valued at approximately $1,374,000. Sei Investments Co. boosted its stake in shares of Titan International by 99.4% during the first quarter. Sei Investments Co. now owns 369,535 shares of the industrial products company’s stock valued at $2,553,000 after purchasing an additional 184,176 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of Titan International during the second quarter valued at approximately $4,397,000. 80.39% of the stock is owned by institutional investors.

Titan International Price Performance

TWI stock opened at $6.66 on Friday. The firm’s 50-day moving average price is $7.10 and its two-hundred day moving average price is $7.44. Titan International, Inc. has a 12-month low of $6.37 and a 12-month high of $11.70. The stock has a market capitalization of $429.51 million, a price-to-earnings ratio of -5.50 and a beta of 1.43. The company has a current ratio of 2.11, a quick ratio of 1.15 and a debt-to-equity ratio of 1.10.

Titan International (NYSE:TWI) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $0.10 earnings per share 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 company had revenue of $484.77 million during the quarter, compared to analyst estimates of $480.06 million. As a group, equities analysts predict that Titan International, Inc. will post -0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Titan International in a report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Titan International currently has a consensus rating of “Hold” and an average price target of $13.00.

Titan International Company Profile

Titan International, Inc is a manufacturer of wheels, tires and wheel-and-tire assemblies designed primarily for off-highway vehicles. The company serves the agriculture, construction, earthmoving, mining, forestry and powersports markets, supplying products for tractors, combines, sprayers, skid steers, loaders, graders, haulage equipment and other specialized vehicles.

Titan’s product portfolio includes agricultural and industrial tires, earthmoving and construction tires, steel and specialty wheels, and related assemblies.