Titan America (NYSE:TTAM) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Titan America (NYSE:TTAM) from a buy rating to a hold rating in a report released on Saturday morning.

Several other research firms have also recently commented on TTAM. Jefferies Financial Group boosted their target price on Titan America from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Sanford C. Bernstein increased their price target on Titan America from $15.00 to $17.00 and gave the company a “market perform” rating in a research report on Friday, December 19th. Finally, Citigroup decreased their price objective on Titan America from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.00.

Titan America Price Performance

Titan America stock opened at $14.29 on Friday. The company has a quick ratio of 1.91, a current ratio of 3.03 and a debt-to-equity ratio of 0.43. Titan America has a 52-week low of $10.80 and a 52-week high of $19.42. The firm has a market cap of $2.63 billion and a PE ratio of 14.01. The company’s 50 day moving average is $17.13 and its two-hundred day moving average is $16.27.

Titan America (NYSE:TTAM) last posted its quarterly earnings results on Tuesday, March 17th. The company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $405.66 million during the quarter. Titan America had a net margin of 11.14% and a return on equity of 19.07%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year.

Titan America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Monday, April 20th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, April 20th. Titan America’s dividend payout ratio (DPR) is currently 15.69%.

Insiders Place Their Bets

In related news, CFO Lawrence Hugh Jr. Wilt purchased 20,000 shares of Titan America stock in a transaction that occurred on Thursday, March 19th. The stock was purchased at an average cost of $14.93 per share, with a total value of $298,600.00. Following the completion of the transaction, the chief financial officer directly owned 20,000 shares in the company, valued at approximately $298,600. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Titan America

A number of hedge funds and other institutional investors have recently made changes to their positions in TTAM. Franklin Resources Inc. lifted its position in Titan America by 176.6% during the 2nd quarter. Franklin Resources Inc. now owns 697,226 shares of the company’s stock worth $8,701,000 after acquiring an additional 445,154 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Titan America by 38.7% in the third quarter. First Eagle Investment Management LLC now owns 355,610 shares of the company’s stock valued at $5,313,000 after purchasing an additional 99,300 shares during the period. River Road Asset Management LLC acquired a new position in shares of Titan America in the second quarter valued at approximately $45,507,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Titan America during the second quarter worth approximately $65,000. Finally, Voss Capital LP raised its stake in shares of Titan America by 13.3% during the third quarter. Voss Capital LP now owns 1,715,000 shares of the company’s stock worth $25,622,000 after purchasing an additional 201,577 shares during the last quarter.

About Titan America

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”).