Diamond Hill Capital Management LLC Investment Advisor Buys Shares of 408,502 Titan America SA $TTAM

Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Titan America SA (NYSE:TTAM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 408,502 shares of the company’s stock, valued at approximately $7,623,000.

Other hedge funds also recently made changes to their positions in the company. River Road Asset Management LLC grew its holdings in shares of Titan America by 3.5% during the 4th quarter. River Road Asset Management LLC now owns 3,856,334 shares of the company’s stock valued at $63,552,000 after purchasing an additional 128,624 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Titan America by 7.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,417,804 shares of the company’s stock valued at $56,325,000 after purchasing an additional 230,943 shares during the last quarter. Voss Capital LP boosted its position in Titan America by 51.6% in the fourth quarter. Voss Capital LP now owns 2,600,000 shares of the company’s stock valued at $42,848,000 after buying an additional 885,000 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Titan America during the first quarter worth $9,188,000. Finally, Venator Management LLC increased its holdings in shares of Titan America by 13.9% during the fourth quarter. Venator Management LLC now owns 522,310 shares of the company’s stock worth $8,608,000 after buying an additional 63,660 shares in the last quarter.

Titan America Price Performance

Titan America stock opened at $15.62 on Tuesday. The stock’s 50 day moving average is $17.08 and its 200 day moving average is $16.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.08 and a quick ratio of 1.17. The firm has a market cap of $2.88 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.03 and a beta of 1.07. Titan America SA has a one year low of $13.89 and a one year high of $19.57.

Titan America (NYSE:TTAM) last announced its earnings results on Tuesday, July 28th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.06). Titan America had a net margin of 10.35% and a return on equity of 17.03%. The company had revenue of $470.63 million during the quarter. During the same quarter in the previous year, the firm earned $0.28 EPS. Titan America’s revenue was up 9.6% compared to the same quarter last year. As a group, research analysts expect that Titan America SA will post 1.09 EPS for the current year.

Titan America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.16 annualized dividend and a dividend yield of 1.0%. Titan America’s dividend payout ratio is 16.67%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TTAM. Zacks Research raised Titan America from a “strong sell” rating to a “hold” rating in a report on Thursday, May 21st. Weiss Ratings initiated coverage on Titan America in a report on Wednesday, July 29th. They issued a “hold (c)” rating for the company. Stifel Nicolaus lifted their price target on Titan America from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, July 29th. Citigroup boosted their price target on Titan America from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, HSBC downgraded shares of Titan America from a “buy” rating to a “hold” rating and set a $18.50 target price on the stock. in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.30.

Titan America 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”).