Anthony Eheli, the Vice President and Chief Accounting Officer of Titan International Inc. (NYSE:TWI), a company specializing in steel works and rolling mills, has recently completed a sale of company stock. The transactions, which were executed on March 25, 2024, involved the sale of 2,500 shares at an average price of $12.42, totaling approximately $31,050.
In addition to the sale, it was noted that shares of common stock were also withheld by the company to satisfy tax withholding obligations connected to the vesting of restricted stock. This withholding, represented by a separate transaction, involved 1,675 shares at a price of $12.39, summing up to $20,753.
The sales were part of a series of transactions that took place at varying prices, ranging from $12.38 to $12.52. These transactions were conducted to satisfy income tax obligations related to previously vested shares of restricted stock, as indicated in the footnotes of the filing.
Following these transactions, Eheli's ownership in Titan International Inc. stands at 52,918 shares of common stock, which includes 37,500 shares of restricted stock scheduled to vest on future dates stretching from March 2025 to March 2027.
Investors and the market often monitor the trading activity of insiders such as corporate executives, as their transactions can provide insights into their perspective on the company's current valuation and future prospects.
InvestingPro Insights
Amidst the insider trading activity at Titan International Inc. (NYSE:TWI), investors may find it beneficial to consider the company's current financial standing and market sentiment. With a market capitalization of $742 million and a P/E ratio standing at 9.75, Titan International appears to be trading at a low earnings multiple, which is further underscored by the adjusted P/E ratio of 9.48 for the last twelve months as of Q4 2023.
Despite recent stock price volatility, as indicated by an 18.48% price drop over the last three months, it's important to note that Titan International has been profitable over the last twelve months. This profitability is matched by a strong return of 18.0% over the past year. An InvestingPro Tip highlights that analysts are forecasting the company to be profitable this year, which may offer reassurance to investors concerned about recent stock price movements.
Another InvestingPro Tip reveals that management has been actively engaged in share buybacks, a sign that could be interpreted as confidence in the company's value and future prospects. For those looking to delve deeper into Titan International's potential, there are additional InvestingPro Tips available, which can be accessed at: https://www.investing.com/pro/TWI. In total, there are 11 more tips listed in InvestingPro that can provide further insights.
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