Strs Ohio decreased its stake in Titan Machinery Inc. (NASDAQ:TITN – Get Rating) by 33.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,600 shares of the company’s stock after selling 7,800 shares during the period. Strs Ohio owned 0.07% of Titan Machinery worth $619,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in TITN. Royce & Associates LP bought a new stake in shares of Titan Machinery in the 3rd quarter worth approximately $4,691,000. Prudential Financial Inc. lifted its holdings in shares of Titan Machinery by 89.1% in the 1st quarter. Prudential Financial Inc. now owns 258,894 shares of the company’s stock worth $7,316,000 after purchasing an additional 122,000 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Titan Machinery by 73.1% in the 2nd quarter. Renaissance Technologies LLC now owns 288,200 shares of the company’s stock worth $6,459,000 after purchasing an additional 121,700 shares during the last quarter. State Street Corp lifted its holdings in shares of Titan Machinery by 32.7% in the 2nd quarter. State Street Corp now owns 470,579 shares of the company’s stock worth $10,546,000 after purchasing an additional 115,876 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Titan Machinery by 65.8% in the 1st quarter. JPMorgan Chase & Co. now owns 282,713 shares of the company’s stock worth $7,990,000 after purchasing an additional 112,210 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.
Insider Transactions at Titan Machinery
In related news, Director Stan K. Erickson bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were acquired at an average cost of $29.67 per share, for a total transaction of $89,010.00. Following the acquisition, the director now directly owns 39,031 shares of the company’s stock, valued at approximately $1,158,049.77. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 11.04% of the company’s stock.
Titan Machinery Stock Up 6.2 %
Titan Machinery (NASDAQ:TITN – Get Rating) last posted its quarterly earnings data on Thursday, March 16th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.26). Titan Machinery had a return on equity of 20.81% and a net margin of 4.61%. The firm had revenue of $583.00 million during the quarter, compared to the consensus estimate of $692.90 million. During the same period in the prior year, the firm posted $0.99 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities analysts predict that Titan Machinery Inc. will post 4.89 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts have weighed in on TITN shares. StockNews.com downgraded Titan Machinery from a “buy” rating to a “hold” rating in a research note on Friday, March 24th. Robert W. Baird cut their target price on Titan Machinery from $40.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, March 16th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.67.
Titan Machinery Profile
Titan Machinery, Inc engages in the management of agricultural and construction equipment stores. It operates through the following segments: Agriculture, Construction and International. The Agriculture segment sells services and rents machinery and related parts and attachments, for uses from large-scale farming to home and garden use in North America.
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