CastleKnight Management LP Has $17.28 Million Stock Position in Titan America SA $TTAM

CastleKnight Management LP lowered its position in shares of Titan America SA (NYSE:TTAM) by 20.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,048,531 shares of the company’s stock after selling 270,070 shares during the quarter. CastleKnight Management LP’s holdings in Titan America were worth $17,280,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Rhumbline Advisers increased its position in shares of Titan America by 3.0% during the 3rd quarter. Rhumbline Advisers now owns 24,073 shares of the company’s stock worth $360,000 after purchasing an additional 691 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Titan America by 3.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 26,026 shares of the company’s stock worth $429,000 after purchasing an additional 823 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Titan America by 7.1% during the 3rd quarter. Intech Investment Management LLC now owns 13,622 shares of the company’s stock worth $204,000 after purchasing an additional 898 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Titan America by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,733 shares of the company’s stock worth $243,000 after purchasing an additional 1,786 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Titan America during the 4th quarter worth about $30,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Titan America from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Citigroup increased their target price on shares of Titan America from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. HSBC cut shares of Titan America from a “buy” rating to a “hold” rating and set a $18.50 target price for the company. in a research report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Titan America from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.42.

Titan America Stock Up 2.0%

Shares of NYSE TTAM opened at $17.61 on Thursday. The firm has a market capitalization of $3.25 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.10 and a beta of 1.15. The company has a current ratio of 2.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.41. Titan America SA has a 1 year low of $12.18 and a 1 year high of $19.42. The firm’s 50-day moving average is $16.15 and its 200-day moving average is $16.61.

Titan America (NYSE:TTAM) last issued its earnings results on Tuesday, May 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $398.42 million during the quarter. Titan America had a net margin of 11.08% and a return on equity of 18.35%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share. Equities analysts expect that Titan America SA will post 1.09 EPS for the current year.

Titan America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, June 18th. Titan America’s dividend payout ratio (DPR) is 15.84%.

Titan America Company Profile

Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”). We are a leading provider of materials that contribute to lower carbon emissions than traditional building materials and/or beneficial reuse of waste materials. We are a leading provider of heavy building materials in Florida, the New York and New Jersey Metropolitan area (“Metro New York”), Virginia, North Carolina and South Carolina (Virginia and the Carolinas, together with Metro New York and their adjacent areas, the “Mid-Atlantic”).