Q: Looking for an updated opinion on Titanium, are either the potential of tariffs or dividend cut enough to stay clear?
5i Research Answer:
TTNM gets about half its revenue in the US, and this side of the business should be immune to tariffs. That being said, if tariffs lower economic growth then the transportation industry will still be impacted. TTNM on Friday did suspend its quarterly dividend, citing 'softness in core markets'. This was done after the close. With its small size, lots of debt, uncertainty and the dividend news, we would not want to step in as buyers yet.