JPMorgan Chase & Co. Reduces Holdings in Titan Machinery Inc. (NASDAQ:TITN)

JPMorgan Chase & Co. reduced its holdings in shares of Titan Machinery Inc. (NASDAQ:TITN) by 7.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 173,026 shares of the company’s stock after selling 13,199 shares during the period. JPMorgan Chase & Co.’s holdings in Titan Machinery were worth $2,410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board purchased a new stake in shares of Titan Machinery during the second quarter worth about $37,000. Truvestments Capital LLC purchased a new stake in shares of Titan Machinery during the third quarter worth about $41,000. US Bancorp DE grew its holdings in shares of Titan Machinery by 116.2% during the third quarter. US Bancorp DE now owns 3,120 shares of the company’s stock worth $43,000 after buying an additional 1,677 shares in the last quarter. FMR LLC grew its holdings in shares of Titan Machinery by 142.5% during the third quarter. FMR LLC now owns 5,262 shares of the company’s stock worth $73,000 after buying an additional 3,092 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Titan Machinery during the third quarter worth about $105,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Titan Machinery Price Performance

Titan Machinery stock opened at $15.76 on Wednesday. Titan Machinery Inc. has a 1 year low of $12.30 and a 1 year high of $28.29. The firm has a 50 day moving average price of $14.59 and a 200 day moving average price of $14.70. The company has a market cap of $364.53 million, a price-to-earnings ratio of 11.76 and a beta of 1.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.15 and a current ratio of 1.32.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings results on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. The firm had revenue of $679.80 million for the quarter, compared to analysts’ expectations of $675.30 million. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. Titan Machinery’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 earnings per share. Sell-side analysts predict that Titan Machinery Inc. will post 0.05 earnings per share for the current year.

Titan Machinery Company 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.