Renaissance Technologies LLC Sells 138,600 Shares of Titan International, Inc. (NYSE:TWI)

Renaissance Technologies LLC decreased its holdings in shares of Titan International, Inc. (NYSE:TWI) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,840,459 shares of the industrial products company’s stock after selling 138,600 shares during the period. Renaissance Technologies LLC owned about 3.94% of Titan International worth $21,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its stake in Titan International by 3.0% during the second quarter. SummerHaven Investment Management LLC now owns 64,975 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 1,868 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Titan International by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,146 shares of the industrial products company’s stock worth $7,844,000 after purchasing an additional 1,927 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Titan International by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 44,505 shares of the industrial products company’s stock worth $555,000 after purchasing an additional 2,171 shares during the period. Capital Investment Counsel Inc raised its stake in shares of Titan International by 2.2% in the second quarter. Capital Investment Counsel Inc now owns 117,383 shares of the industrial products company’s stock valued at $870,000 after acquiring an additional 2,543 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Titan International by 46.8% in the second quarter. CWM LLC now owns 8,837 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 2,819 shares during the last quarter. Institutional investors own 80.39% of the company’s stock.

Titan International Stock Performance

NYSE:TWI opened at $8.12 on Friday. Titan International, Inc. has a 1 year low of $6.71 and a 1 year high of $15.33. The firm has a 50 day moving average of $8.08 and a 200-day moving average of $9.21. The company has a current ratio of 2.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $591.71 million, a P/E ratio of 9.12 and a beta of 1.80.

Titan International (NYSE:TWI) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.10 earnings per share (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 firm had revenue of $532.17 million during the quarter, compared to the consensus estimate of $547.02 million. As a group, sell-side analysts anticipate that Titan International, Inc. will post 0.42 EPS for the current fiscal 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.