Wells Fargo & Company MN Boosts Stock Holdings in Titan Machinery Inc. (NASDAQ:TITN)

Wells Fargo & Company MN grew its position in Titan Machinery Inc. (NASDAQ:TITN) by 29.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,397 shares of the company’s stock after acquiring an additional 2,808 shares during the quarter. Wells Fargo & Company MN’s holdings in Titan Machinery were worth $175,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TITN. American Century Companies Inc. boosted its stake in Titan Machinery by 0.5% during the 4th quarter. American Century Companies Inc. now owns 1,229,637 shares of the company’s stock worth $17,375,000 after purchasing an additional 5,938 shares during the last quarter. Vanguard Group Inc. grew its stake in Titan Machinery by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 1,193,202 shares of the company’s stock valued at $16,860,000 after acquiring an additional 4,955 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Titan Machinery by 2.0% in the 4th quarter. William Blair Investment Management LLC now owns 920,090 shares of the company’s stock valued at $13,001,000 after acquiring an additional 17,689 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Titan Machinery by 42.4% during the 4th quarter. First Eagle Investment Management LLC now owns 634,509 shares of the company’s stock worth $8,966,000 after purchasing an additional 188,998 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Titan Machinery by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 482,744 shares of the company’s stock worth $6,823,000 after purchasing an additional 8,958 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Titan Machinery

In other news, Chairman David Joseph Meyer acquired 22,524 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost of $16.83 per share, with a total value of $379,078.92. Following the completion of the purchase, the chairman now owns 135,388 shares of the company’s stock, valued at $2,278,580.04. This represents a 19.96 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought a total of 26,182 shares of company stock valued at $439,661 over the last quarter. 10.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TITN. Baird R W upgraded Titan Machinery from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 27th. Northland Capmk raised shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a report on Friday, April 11th. B. Riley assumed coverage on shares of Titan Machinery in a research note on Thursday, March 27th. They set a “neutral” rating and a $19.00 target price on the stock. Northland Securities raised shares of Titan Machinery from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research note on Friday, April 11th. Finally, Robert W. Baird reduced their price target on shares of Titan Machinery from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Titan Machinery has an average rating of “Moderate Buy” and an average target price of $19.80.

Titan Machinery Price Performance

Titan Machinery stock opened at $19.36 on Friday. The company’s 50 day simple moving average is $16.24 and its 200-day simple moving average is $15.81. 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 Inc. has a 1 year low of $12.30 and a 1 year high of $24.28. The company has a market capitalization of $446.94 million, a price-to-earnings ratio of 14.45 and a beta of 1.35.

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.