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)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

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!