Bank of New York Mellon Corp Reduces Stake in Titan Machinery Inc. (NASDAQ:TITN)

Bank of New York Mellon Corp cut its position in shares of Titan Machinery Inc. (NASDAQ:TITN) by 15.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,102 shares of the company’s stock after selling 14,079 shares during the quarter. Bank of New York Mellon Corp owned 0.32% of Titan Machinery worth $1,061,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of TITN. Empowered Funds LLC boosted its position in shares of Titan Machinery by 5.1% in the 4th quarter. Empowered Funds LLC now owns 20,000 shares of the company’s stock worth $283,000 after buying an additional 962 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Titan Machinery in the fourth quarter valued at about $26,000. Janus Henderson Group PLC grew its position in shares of Titan Machinery by 6.8% in the third quarter. Janus Henderson Group PLC now owns 39,262 shares of the company’s stock valued at $547,000 after purchasing an additional 2,496 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Titan Machinery during the 3rd quarter worth approximately $41,000. Finally, FMR LLC increased its stake in shares of Titan Machinery by 142.5% during the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after purchasing an additional 3,092 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Baird R W upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Monday, January 27th. Robert W. Baird dropped their price objective on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.00.

Titan Machinery Trading Up 4.2 %

Shares of TITN opened at $17.77 on Tuesday. Titan Machinery Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $24.89. The stock has a fifty day moving average of $16.77 and a two-hundred day moving average of $15.15. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32. The company has a market capitalization of $410.95 million, a PE ratio of 13.26 and a beta of 1.28.

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.