Wolverine Asset Management LLC Grows Position in Titan International, Inc. (NYSE:TWI)

Posted by MarketBeat News on Aug 3rd, 2022

Wolverine Asset Management LLC increased its position in Titan International, Inc. (NYSE:TWI – Get Rating) by 24.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,782 shares of the industrial products company’s stock after buying an additional 3,087 shares during the quarter. Wolverine Asset Management LLC’s holdings in Titan International were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in Titan International by 99.2% in the 4th quarter. Invesco Ltd. now owns 1,466,033 shares of the industrial products company’s stock worth $16,068,000 after acquiring an additional 730,033 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Titan International by 87.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 345,467 shares of the industrial products company’s stock worth $5,089,000 after acquiring an additional 161,360 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Titan International in the 4th quarter worth $2,383,000. CastleKnight Management LP bought a new stake in Titan International in the 4th quarter worth $2,064,000. Finally, Calamos Advisors LLC bought a new stake in Titan International in the 1st quarter worth $2,241,000. 75.23% of the stock is currently owned by institutional investors.

Insider Activity at Titan International

In related news, CEO Paul G. Reitz sold 40,000 shares of Titan International stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $17.95, for a total transaction of $718,000.00. Following the completion of the transaction, the chief executive officer now directly owns 252,413 shares of the company’s stock, valued at approximately $4,530,813.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 19.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Titan International from a “hold” rating to a “buy” rating in a research report on Sunday, April 24th.

Titan International Trading Down 16.5 %

NYSE:TWI opened at $14.17 on Wednesday. The company has a 50-day moving average price of $16.41 and a 200-day moving average price of $14.29. Titan International, Inc. has a 12 month low of $6.69 and a 12 month high of $19.81. The company has a current ratio of 1.85, a quick ratio of 0.99 and a debt-to-equity ratio of 1.97. The stock has a market cap of $887.89 million, a price-to-earnings ratio of 14.92 and a beta of 2.33.

Titan International (NYSE:TWI – Get Rating) last posted its earnings results on Monday, August 1st. The industrial products company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. Titan International had a net margin of 3.10% and a return on equity of 37.62%. During the same period in the previous year, the business posted $0.22 earnings per share. Equities analysts predict that Titan International, Inc. will post 2.25 EPS for the current year.

Titan International Profile

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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, the Middle East, Africa, Russia, and internationally.