StockNews.com Upgrades Taylor Devices (NASDAQ:TAYD) to Buy

Taylor Devices (NASDAQ:TAYD) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Taylor Devices Trading Up 0.7 %

TAYD stock opened at $32.51 on Monday. The stock has a market capitalization of $101.95 million, a price-to-earnings ratio of 12.13 and a beta of 1.05. The firm’s 50-day moving average price is $32.39 and its two-hundred day moving average price is $40.85. Taylor Devices has a 12-month low of $30.18 and a 12-month high of $64.50.

Taylor Devices (NASDAQ:TAYD) last announced its quarterly earnings results on Friday, March 28th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter. Taylor Devices had a return on equity of 17.04% and a net margin of 19.99%. The company had revenue of $10.57 million for the quarter.

Insider Activity at Taylor Devices

In related news, CEO Timothy John Sopko acquired 1,000 shares of the stock in a transaction on Monday, January 13th. The stock was acquired at an average cost of $33.25 per share, for a total transaction of $33,250.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TAYD. Geode Capital Management LLC raised its holdings in Taylor Devices by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 67,425 shares of the industrial products company’s stock worth $2,807,000 after purchasing an additional 5,611 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Taylor Devices by 5.2% in the 4th quarter. Renaissance Technologies LLC now owns 48,462 shares of the industrial products company’s stock worth $2,017,000 after buying an additional 2,400 shares during the period. Courier Capital LLC increased its stake in shares of Taylor Devices by 19.3% in the 4th quarter. Courier Capital LLC now owns 47,721 shares of the industrial products company’s stock worth $1,986,000 after acquiring an additional 7,721 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Taylor Devices by 28.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 45,772 shares of the industrial products company’s stock valued at $1,905,000 after acquiring an additional 10,224 shares during the period. Finally, State Street Corp boosted its stake in Taylor Devices by 17.0% during the third quarter. State Street Corp now owns 35,532 shares of the industrial products company’s stock worth $1,774,000 after acquiring an additional 5,171 shares in the last quarter. Hedge funds and other 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.