Bank of New York Mellon Corp Raises Holdings in Twin Disc, Incorporated (NASDAQ:TWIN)

Bank of New York Mellon Corp increased its holdings in Twin Disc, Incorporated (NASDAQ:TWIN) by 44.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 102,281 shares of the industrial products company’s stock after acquiring an additional 31,378 shares during the period. Bank of New York Mellon Corp owned approximately 0.73% of Twin Disc worth $1,205,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TWIN. Central Pacific Bank Trust Division purchased a new position in shares of Twin Disc during the first quarter worth $26,000. EntryPoint Capital LLC acquired a new stake in shares of Twin Disc in the first quarter valued at $36,000. O Shaughnessy Asset Management LLC raised its stake in shares of Twin Disc by 64.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 36,366 shares of the industrial products company’s stock valued at $601,000 after acquiring an additional 14,218 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Twin Disc by 17.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 39,115 shares of the industrial products company’s stock valued at $632,000 after acquiring an additional 5,942 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Twin Disc by 1.1% in the first quarter. Acadian Asset Management LLC now owns 62,741 shares of the industrial products company’s stock valued at $1,036,000 after acquiring an additional 668 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Twin Disc Stock Down 3.9 %

Twin Disc stock opened at $12.44 on Friday. Twin Disc, Incorporated has a 1-year low of $10.90 and a 1-year high of $18.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.21 and a quick ratio of 0.90. The stock has a market cap of $175.40 million, a PE ratio of 14.30 and a beta of 0.60. The stock’s fifty day moving average is $12.94 and its two-hundred day moving average is $14.15.

Twin Disc (NASDAQ:TWIN) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $0.32 earnings per share for the quarter. Twin Disc had a return on equity of 5.47% and a net margin of 3.72%. The company had revenue of $84.42 million for the quarter.

Twin Disc Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 2nd. Shareholders of record on Monday, August 19th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Monday, August 19th. Twin Disc’s dividend payout ratio is presently 18.39%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Twin Disc from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 7th.

Twin Disc Company Profile

Twin Disc, Incorporated designs, manufactures, and sells marine and heavy duty off-highway power transmission equipment in the United States, the Netherlands, China, Australia, Italy, and internationally. The company operates in two segments, Manufacturing and Distribution. Its principal products include marine transmissions, azimuth drives, surface drives, propellers, and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and controls systems.