Towle Co buys $9,472,086 stake in Titan Machinery (TITN)

Titan Machinery (TITN) : Towle Co scooped up 8,970 additional shares in Titan Machinery during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 879,488 shares of Titan Machinery which is valued at $9,472,086.Titan Machinery makes up approximately 1.66% of Towle Co’s portfolio.

Other Hedge Funds, Including , Diam Ltd. boosted its stake in TITN in the latest quarter, The investment management firm added 18,860 additional shares and now holds a total of 49,660 shares of Titan Machinery which is valued at $534,838. Titan Machinery makes up approx 0.01% of Diam Ltd.’s portfolio.California State Teachers Retirement System boosted its stake in TITN in the latest quarter, The investment management firm added 426 additional shares and now holds a total of 37,162 shares of Titan Machinery which is valued at $400,235.American Century Companies Inc reduced its stake in TITN by selling 47,085 shares or 19.71% in the most recent quarter. The Hedge Fund company now holds 191,855 shares of TITN which is valued at $2,167,962.Acadian Asset Management boosted its stake in TITN in the latest quarter, The investment management firm added 42,396 additional shares and now holds a total of 404,574 shares of Titan Machinery which is valued at $4,794,202. Titan Machinery makes up approx 0.02% of Acadian Asset Management’s portfolio.Cutler Group Lp boosted its stake in TITN in the latest quarter, The investment management firm added 6,799 additional shares and now holds a total of 9,282 shares of Titan Machinery which is valued at $106,650. Titan Machinery makes up approx 0.01% of Cutler Group Lp’s portfolio.

Titan Machinery closed down -0.15 points or -1.32% at $11.22 with 30,947 shares getting traded on Monday. Post opening the session at $11.4, the shares hit an intraday low of $11.115 and an intraday high of $11.59 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Titan Machinery reported $-0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on May 26, 2016. Analyst had a consensus of $-0.16. The company had revenue of $284.90 million for the quarter, compared to analysts expectations of $290.31 million. The company’s revenue was down -19.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.13 EPS.

Titan Machinery Inc. owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company has three segments: Agriculture Construction and International. Within its segments it engages in four principal business activities: new and used equipment sales; parts sales; repair and maintenance services and equipment rental and other activities. It sells new agricultural and construction equipment manufactured under the CNH Industrial family of brands as well as equipment from a variety of other manufacturers. The used equipment it sells is primarily from inventory purchased through trade-ins from its customers and selective purchases. It sells parts and provide in-store and on-site repair and maintenance services. It also rents equipment and provides ancillary services such as equipment transportation global positioning system (GPS) signal subscriptions and finance and insurance products.

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