JPMorgan Chase & Co. Reduces Holdings in Titan Machinery Inc. (NASDAQ:TITN)

JPMorgan Chase & Co. trimmed its stake in Titan Machinery Inc. (NASDAQ:TITN) by 7.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,026 shares of the company’s stock after selling 13,199 shares during the period. JPMorgan Chase & Co. owned approximately 0.75% of Titan Machinery worth $2,410,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TITN. Canada Pension Plan Investment Board purchased a new position in shares of Titan Machinery in the 2nd quarter valued at $37,000. Truvestments Capital LLC purchased a new position in shares of Titan Machinery in the 3rd quarter valued at $41,000. US Bancorp DE grew its position in shares of Titan Machinery by 116.2% in the 3rd quarter. US Bancorp DE now owns 3,120 shares of the company’s stock valued at $43,000 after buying an additional 1,677 shares during the last quarter. FMR LLC grew its position in shares of Titan Machinery by 142.5% in the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock valued at $73,000 after buying an additional 3,092 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Titan Machinery in the 3rd quarter valued at $105,000. 78.38% of the stock is owned by hedge funds and other institutional investors.

Titan Machinery Stock Up 3.6 %

Shares of NASDAQ:TITN opened at $15.76 on Wednesday. The stock has a market cap of $364.53 million, a P/E ratio of 11.76 and a beta of 1.30. The firm has a fifty day moving average price of $14.59 and a 200 day moving average price of $14.70. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. Titan Machinery Inc. has a 1-year low of $12.30 and a 1-year high of $28.29.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The firm had revenue of $679.80 million during the quarter, compared to analysts’ expectations of $675.30 million. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. Titan Machinery’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 EPS. Sell-side analysts predict that Titan Machinery Inc. will post 0.05 EPS for the current year.

About Titan Machinery

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.