Tim Maturo
Long only, value, growth at reasonable price, long-term horizon

Buy Titan International: An Abnormal Opportunity In Tires


Titan International (NYSE:TWI) offers a full line of wheels and tires for a wide variety of off-the-road (NYSE:OTR) equipment. Titan is divided into three segments: agriculture, earthmoving/construction and consumer markets. The agriculture segment (63% of sales) provides tires and wheels for agriculture customers, primarily John Deere (NYSE:DE), Case IH and CNH (NYSE:CNH). The earthmoving/construction segment (24%) sells a range of tires to construction and mining customers primarily, Caterpillar (NYSE:CAT) and Kubota (KUB). Finally, the consumer markets segment (13%) manufactures and sells tires for light trucks and ATV's in Brazil. Titan is building a global presence with operations in North America and Latin America. Titan's stock has been pummeled over...

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