Meeder Asset Management Inc. Buys 1,489 Shares of Titan Machinery Inc. (NASDAQ:TITN)

Meeder Asset Management Inc. boosted its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 630.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,725 shares of the company’s stock after buying an additional 1,489 shares during the quarter. Meeder Asset Management Inc.’s holdings in Titan Machinery were worth $53,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Monarch Partners Asset Management LLC lifted its holdings in Titan Machinery by 453.3% during the 1st quarter. Monarch Partners Asset Management LLC now owns 254,055 shares of the company’s stock valued at $6,478,000 after buying an additional 208,140 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Titan Machinery by 606.8% in the 1st quarter. Bank of New York Mellon Corp now owns 598,766 shares of the company’s stock valued at $15,268,000 after purchasing an additional 514,051 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Titan Machinery by 79.2% in the 1st quarter. Nuveen Asset Management LLC now owns 236,817 shares of the company’s stock valued at $6,038,000 after purchasing an additional 104,667 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Titan Machinery by 990.5% in the 1st quarter. Citigroup Inc. now owns 39,674 shares of the company’s stock valued at $1,012,000 after purchasing an additional 36,036 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its holdings in shares of Titan Machinery by 45.2% in the 1st quarter. State of Tennessee Treasury Department now owns 10,040 shares of the company’s stock valued at $256,000 after purchasing an additional 3,124 shares in the last quarter. Institutional investors own 78.89% of the company’s stock.

NASDAQ:TITN opened at $26.19 on Wednesday. The company has a market cap of $591.79 million, a PE ratio of 18.19 and a beta of 1.77. Titan Machinery Inc. has a twelve month low of $12.50 and a twelve month high of $35.24. The company has a current ratio of 1.92, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $28.40 and its two-hundred day moving average is $27.87.

Titan Machinery (NASDAQ:TITN) last released its quarterly earnings data on Wednesday, August 25th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.44 by $0.13. The business had revenue of $377.60 million for the quarter, compared to the consensus estimate of $372.73 million. Titan Machinery had a net margin of 2.10% and a return on equity of 11.04%. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. As a group, analysts expect that Titan Machinery Inc. will post 2.1 EPS for the current fiscal year.

TITN has been the subject of several recent research reports. Robert W. Baird boosted their price objective on shares of Titan Machinery from $31.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, May 27th. Zacks Investment Research upgraded shares of Titan Machinery from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a research note on Wednesday, September 1st. Finally, Stephens upgraded shares of Titan Machinery from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $26.00 to $40.00 in a research note on Friday, May 28th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $33.25.

About Titan Machinery

Titan Machinery, Inc engages in the management of agricultural and construction equipment stores. It operates through the following segments: Agriculture, Construction and International. The Agriculture segment sells services and rents machinery and related parts and attachments, for uses from large-scale farming to home and garden use in North America.

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Institutional Ownership by Quarter for Titan Machinery (NASDAQ:TITN)

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