Assenagon Asset Management S.A. Cuts Holdings in Titan International, Inc. (NYSE:TWI)

Assenagon Asset Management S.A. reduced its position in Titan International, Inc. (NYSE:TWI) by 91.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,622 shares of the industrial products company’s stock after selling 154,557 shares during the period. Assenagon Asset Management S.A.’s holdings in Titan International were worth $92,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. bought a new position in Titan International during the 3rd quarter valued at about $3,234,000. Victory Capital Management Inc. grew its stake in shares of Titan International by 31.9% during the third quarter. Victory Capital Management Inc. now owns 1,609,208 shares of the industrial products company’s stock valued at $13,083,000 after buying an additional 388,864 shares during the last quarter. Villanova Investment Management Co LLC purchased a new stake in shares of Titan International in the third quarter worth approximately $1,110,000. Barclays PLC lifted its stake in shares of Titan International by 207.1% during the 3rd quarter. Barclays PLC now owns 107,669 shares of the industrial products company’s stock worth $877,000 after acquiring an additional 72,612 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Titan International during the 3rd quarter valued at $444,000. 80.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

TWI has been the subject of several research analyst reports. DA Davidson assumed coverage on Titan International in a research report on Friday, December 13th. They set a “buy” rating and a $11.00 target price for the company. StockNews.com upgraded shares of Titan International from a “sell” rating to a “hold” rating in a report on Tuesday, January 14th.

Titan International Trading Up 2.9 %

NYSE:TWI opened at $8.34 on Friday. The company has a current ratio of 2.38, a quick ratio of 1.33 and a debt-to-equity ratio of 0.84. The firm has a fifty day simple moving average of $7.24 and a 200-day simple moving average of $7.54. Titan International, Inc. has a 12 month low of $6.34 and a 12 month high of $15.33. The company has a market capitalization of $526.27 million, a P/E ratio of -69.46 and a beta of 1.82.

Titan International (NYSE:TWI) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.21). The business had revenue of $447.99 million during the quarter, compared to analysts’ expectations of $471.63 million. Titan International had a negative net margin of 0.51% and a positive return on equity of 5.76%. During the same period in the previous year, the company posted $0.29 earnings per share. On average, equities research analysts anticipate that Titan International, Inc. will post 0.03 earnings per share for the current year.

About Titan International

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.