Taylor Devices (NASDAQ:TAYD) Cut to Hold at StockNews.com

StockNews.com cut shares of Taylor Devices (NASDAQ:TAYD) from a buy rating to a hold rating in a report released on Wednesday morning.

Taylor Devices Stock Down 2.9 %

Shares of NASDAQ TAYD opened at $33.24 on Wednesday. Taylor Devices has a twelve month low of $29.26 and a twelve month high of $64.50. The company has a market cap of $104.37 million, a PE ratio of 12.40 and a beta of 1.06. The business’s 50 day moving average price is $41.13 and its two-hundred day moving average price is $47.05.

Taylor Devices (NASDAQ:TAYD) last released its quarterly earnings data on Friday, January 3rd. The industrial products company reported $0.34 EPS for the quarter. Taylor Devices had a net margin of 19.99% and a return on equity of 17.04%. During the same quarter in the previous year, the business earned $0.56 earnings per share.

Insider Transactions at Taylor Devices

In other news, CEO Timothy John Sopko acquired 1,000 shares of the stock in a transaction on Monday, January 13th. The shares were purchased at an average price of $33.25 per share, for a total transaction of $33,250.00. Following the transaction, the chief executive officer now directly owns 9,000 shares of the company’s stock, valued at approximately $299,250. This represents a 12.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Taylor Devices

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new position in shares of Taylor Devices during the 2nd quarter worth approximately $286,000. Rhumbline Advisers acquired a new stake in Taylor Devices during the second quarter worth approximately $86,000. American Century Companies Inc. bought a new position in Taylor Devices during the 2nd quarter worth $1,206,000. Dimensional Fund Advisors LP raised its holdings in Taylor Devices by 22.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 32,290 shares of the industrial products company’s stock valued at $1,452,000 after acquiring an additional 5,890 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Taylor Devices in the 2nd quarter valued at $546,000. Institutional investors own 17.62% of the company’s stock.

Taylor Devices Company Profile

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.