Principal Financial Group Inc. Cuts Holdings in Titan International, Inc. (NYSE:TWI)

Principal Financial Group Inc. lowered its holdings in Titan International, Inc. (NYSE:TWI) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,543 shares of the industrial products company’s stock after selling 12,001 shares during the quarter. Principal Financial Group Inc. owned 0.35% of Titan International worth $1,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Innealta Capital LLC purchased a new position in shares of Titan International in the 2nd quarter worth $27,000. Gladius Capital Management LP purchased a new stake in shares of Titan International during the 2nd quarter valued at about $30,000. CWM LLC lifted its stake in shares of Titan International by 46.8% in the 2nd quarter. CWM LLC now owns 8,837 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 2,819 shares during the period. Tradewinds Capital Management LLC purchased a new position in shares of Titan International in the first quarter worth approximately $100,000. Finally, SG Americas Securities LLC purchased a new stake in Titan International during the second quarter valued at approximately $101,000. 80.39% of the stock is owned by institutional investors.

Titan International Trading Up 0.7 %

Shares of Titan International stock opened at $8.06 on Friday. Titan International, Inc. has a 1-year low of $6.71 and a 1-year high of $15.33. The company’s fifty day simple moving average is $7.94 and its 200-day simple moving average is $9.42. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.40 and a quick ratio of 1.38. The stock has a market capitalization of $581.25 million, a PE ratio of 9.05 and a beta of 1.80.

Titan International (NYSE:TWI) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.15). Titan International had a net margin of 1.55% and a return on equity of 12.23%. The company had revenue of $532.17 million for the quarter, compared to the consensus estimate of $547.02 million. As a group, equities analysts anticipate that Titan International, Inc. will post 0.42 earnings per share for the current year.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.