Bank of New York Mellon Corp Lowers Position in Titan Machinery Inc. (NASDAQ:TITN)

Bank of New York Mellon Corp lowered its stake in shares of Titan Machinery Inc. (NASDAQ:TITN) by 15.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,102 shares of the company’s stock after selling 14,079 shares during the period. Bank of New York Mellon Corp’s holdings in Titan Machinery were worth $1,061,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Systematic Financial Management LP acquired a new stake in shares of Titan Machinery during the 3rd quarter worth $483,000. ArrowMark Colorado Holdings LLC raised its holdings in shares of Titan Machinery by 28.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 341,832 shares of the company’s stock worth $4,762,000 after purchasing an additional 75,710 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Titan Machinery by 53.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 25,550 shares of the company’s stock worth $387,000 after purchasing an additional 8,942 shares during the period. Barclays PLC grew its holdings in shares of Titan Machinery by 287.0% during the 3rd quarter. Barclays PLC now owns 31,872 shares of the company’s stock worth $444,000 after purchasing an additional 23,637 shares during the period. Finally, FMR LLC increased its position in Titan Machinery by 142.5% during the 3rd quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after purchasing an additional 3,092 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Ratings Changes

TITN has been the topic of a number of recent research reports. Baird R W raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th. Robert W. Baird lowered their price target on Titan Machinery from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Titan Machinery presently has an average rating of “Hold” and an average price target of $19.00.

Titan Machinery Stock Performance

Shares of TITN stock opened at $17.77 on Tuesday. The company’s fifty day moving average price is $16.77 and its two-hundred day moving average price is $15.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The firm has a market capitalization of $410.95 million, a P/E ratio of 13.26 and a beta of 1.28. Titan Machinery Inc. has a 12 month low of $12.30 and a 12 month high of $24.89.

Titan Machinery Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.