MHR Fund Management Increased its Stake in Titan International Inc (TWI)

For the fourth time in the past three months, Mark Rachesky‘s MHR Fund Management reveals an increased stake in Titan International Inc (NYSE:TWI). A recent filing with the Securities and Exchange Commission shows that the fund’s current position amounts to 7.00 million shares – 13.10% of the company’s common stock, up from the previously held 6.17 million.

Titan International Inc (NYSE:TWI)

Operating in the agricultural, earth moving/construction, and consumer applications segments, Titan International Inc (NYSE:TWI), is a leading world-wide supplier of complete wheel and tire assemblies for off-highway vehicles.  The company’s wheels, tires, and products for all-terrain vehicles and recreational/utility trailers are designed to meet specifications of both original equipment manufacturers and aftermarket customers. In 2012, Titan Tire Corporation acquired Goodyear’s Latin American farm tire business in Sao Paulo, Brazil. The next year,  Titan International, in partnership with the Russian Direct Investment Fund and One Equity Partners, the company closed a $94.00 million acquisition of 85.00% interest in Voltyre-Prom, a Russian producer of agricultural and industrial tires.

Exhibiting steady growth in sales revenues in the past 5 years, Titan International Inc (NYSE:TWI) generated net profits of $95.55 million  ($2.20 per share) in 2012 and $35.21 million ($0.66 per share) in 2013. The company currently trades at a price of around $17.40 per share, with a P/E ratio of 29.00, compared to the average ratio of 9.00 for the whole industry. In the first quarter of 2014, the company reported earnings per share of $0.07, a positive surprise of 16.70% compared to what markets predicted. Titan International is expected to produce EPS of $0.45 in 2014 and $0.70 in 2015. Currently, the mean analyst recommendation for the company’s shares is ‘Hold.’

Two other funds holding significant positions in Titan International Inc (NYSE:TWI) are Robert Rodriguez and Steven Romick‘s First Pacific Advisors Llc and Jay Petschek and Steven Major‘s Corsair Capital Management. The former owns nearly 850,000 shares, while the latter more than 480,000 of the company.

Mark Rachesky manages a $3.50 billion worth equity portfolio, of which around 80.00% is invested in the Services and Technology Sectors. Lions Gate Entertainment Corp. (USA) (NYSE:LGF) represents the largest proportion in the fund’s portfolio (more than 45.00%), with a position of almost 51.30 million shares.

Disclosure: none

Recommended reading:

MHR Fund’s Mark Rachesky Agrees To Serve On Titan International Inc (TWI)’s Board

MHR Fund Management Ups Its Stake In Navistar International Corp (NAV)

MHR Fund Management Discloses Huge Position in Emisphere Technologies, Inc. (EMIS)

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!