Verition Fund Management LLC bought a new position in shares of Titan International, Inc. (NYSE:TWI – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 10,236 shares of the industrial products company's stock, valued at approximately $124,000.
Several other institutional investors also recently modified their holdings of the stock. Captrust Financial Advisors boosted its holdings in shares of Titan International by 5,040.0% in the first quarter. Captrust Financial Advisors now owns 1,799 shares of the industrial products company's stock valued at $26,000 after buying an additional 1,764 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Titan International by 65.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,516 shares of the industrial products company's stock valued at $51,000 after buying an additional 1,388 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Titan International in the first quarter valued at approximately $71,000. Quantbot Technologies LP acquired a new position in shares of Titan International in the third quarter valued at approximately $83,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Titan International in the second quarter valued at approximately $92,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.
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Shares of TWI opened at $12.22 on Friday. Titan International, Inc. has a 12 month low of $11.16 and a 12 month high of $19.81. The firm has a fifty day simple moving average of $15.36 and a 200 day simple moving average of $14.49. The stock has a market capitalization of $768.27 million, a price-to-earnings ratio of 4.41 and a beta of 2.22. The company has a current ratio of 2.04, a quick ratio of 1.15 and a debt-to-equity ratio of 1.08.
Insider Buying and Selling
In related news, General Counsel Michael G. Troyanovich sold 40,000 shares of the stock in a transaction on Friday, February 10th. The shares were sold at an average price of $15.10, for a total transaction of $604,000.00. Following the completion of the transaction, the general counsel now owns 113,785 shares in the company, valued at $1,718,153.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Titan International news, General Counsel Michael G. Troyanovich sold 40,000 shares of the stock in a transaction on Friday, February 10th. The shares were sold at an average price of $15.10, for a total value of $604,000.00. Following the completion of the sale, the general counsel now owns 113,785 shares in the company, valued at $1,718,153.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Maurice M. Taylor, Jr. sold 100,000 shares of the stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $15.27, for a total transaction of $1,527,000.00. Following the completion of the sale, the director now owns 792,968 shares of the company's stock, valued at approximately $12,108,621.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 340,000 shares of company stock worth $5,219,000. 19.60% of the stock is owned by insiders.
About Titan International
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Titan International, Inc is a holding company engaged in the manufacture of wheels, tires, and undercarriage industrial. It operates through the following segments: Agricultural, Earthmoving and Construction, and Consumer. The Agricultural segment manufactures rims, wheels, and tires for use in various agricultural and forestry equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.
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