Titanium Metals Corp (NYSE:TIE) has experienced a decrease in support from the world's most elite money managers of late.
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With these "truths" under our belt, let's take a glance at the key action regarding Titanium Metals Corp (NYSE:TIE).
Heading into 2013, a total of 7 of the hedge funds we track were long in this stock, a change of -22% from the third quarter. With the smart money's sentiment swirling, there exists a select group of noteworthy hedge fund managers who were boosting their stakes substantially.
Of the funds we track, Renaissance Technologies, managed by Jim Simons, holds the biggest position in Titanium Metals Corp (NYSE:TIE). Renaissance Technologies has a $30.1 million position in the stock, comprising 0.1% of its 13F portfolio. Coming in second is Carlson Capital, managed by Clint Carlson, which held a $9.9 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Other hedge funds with similar optimism include Carl Tiedemann and Michael Tiedemann's TIG Advisors, and Mario Gabelli's GAMCO Investors.
Since Titanium Metals Corp (NYSE:TIE) has experienced declining sentiment from the aggregate hedge fund industry, it's safe to say that there were a few money managers that slashed their positions entirely at the end of the year. At the top of the heap, D. E. Shaw's D E Shaw dropped the biggest investment of all the hedgies we monitor, totaling close to $12 million in stock.. Phill Gross and Robert Atchinson's fund, Adage Capital Management, also sold off its stock, about $1.4 million worth. These transactions are interesting, as total hedge fund interest was cut by 2 funds at the end of the year.
Insider trading activity, especially when it's bullish, is most useful when the company we're looking at has seen transactions within the past 180 days. Over the latest 180-day time period, Titanium Metals Corp (NYSE:TIE) has experienced 2 unique insiders buying, and zero insider sales (see the details of insider trades here).
Let's also review hedge fund and insider activity in other stocks similar to Titanium Metals Corp (NYSE:TIE). These stocks are Alliance Resource Partners, L.P. (NASDAQ:ARLP), Tahoe Resources Inc (NYSE:TAHO), Natural Resource Partners LP (NYSE:NRP), Compass Minerals International, Inc. (NYSE:CMP), and Cliffs Natural Resources Inc (NYSE:CLF). This group of stocks are in the industrial metals & minerals industry and their market caps are similar to TIE's market cap.