Titan International (NYSE:TWI) Trading 3.2% Higher – Here’s What Happened

Titan International, Inc. (NYSE:TWI) rose 3.2% during trading on Monday . The company traded as high as $7.26 and last traded at $7.19. Approximately 43,376 shares changed hands during trading, a decline of 91% from the average daily volume of 500,907 shares. The stock had previously closed at $6.97.

Titan International Price Performance

The company has a quick ratio of 1.38, a current ratio of 2.40 and a debt-to-equity ratio of 0.87. The business’s 50-day simple moving average is $7.79 and its 200 day simple moving average is $8.46. The firm has a market capitalization of $510.89 million, a P/E ratio of 15.84 and a beta of 1.79.

Titan International (NYSE:TWI) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). Titan International had a net margin of 1.55% and a return on equity of 12.23%. The business had revenue of $532.17 million for the quarter, compared to the consensus estimate of $547.02 million. Sell-side analysts forecast that Titan International, Inc. will post 0.41 earnings per share for the current year.

Institutional Trading of Titan International

A number of institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in shares of Titan International by 35.6% during the second quarter. Pacer Advisors Inc. now owns 4,479,660 shares of the industrial products company’s stock valued at $33,194,000 after purchasing an additional 1,175,857 shares during the period. Vanguard Group Inc. boosted its stake in shares of Titan International by 0.3% during the first quarter. Vanguard Group Inc. now owns 3,878,594 shares of the industrial products company’s stock valued at $48,327,000 after purchasing an additional 10,537 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Titan International by 2,689.3% during the second quarter. Victory Capital Management Inc. now owns 1,220,344 shares of the industrial products company’s stock valued at $9,043,000 after purchasing an additional 1,176,593 shares during the period. LSV Asset Management boosted its stake in shares of Titan International by 6.1% during the second quarter. LSV Asset Management now owns 828,300 shares of the industrial products company’s stock valued at $6,138,000 after purchasing an additional 47,600 shares during the period. Finally, Grace & White Inc. NY boosted its stake in shares of Titan International by 68.7% during the second quarter. Grace & White Inc. NY now owns 403,828 shares of the industrial products company’s stock valued at $2,992,000 after purchasing an additional 164,500 shares during the period. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Titan International Company Profile

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.