State Street Corp Purchases 2,835 Shares of Twin Disc, Incorporated (NASDAQ:TWIN)

State Street Corp lifted its position in shares of Twin Disc, Incorporated (NASDAQ:TWIN) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,880 shares of the industrial products company’s stock after purchasing an additional 2,835 shares during the period. State Street Corp owned 0.88% of Twin Disc worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Twin Disc by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 555,283 shares of the industrial products company’s stock worth $6,541,000 after buying an additional 16,452 shares during the period. Royce & Associates LP increased its position in Twin Disc by 1.0% during the third quarter. Royce & Associates LP now owns 398,212 shares of the industrial products company’s stock worth $4,974,000 after acquiring an additional 3,786 shares during the period. Gabelli Funds LLC raised its stake in Twin Disc by 4.3% in the 2nd quarter. Gabelli Funds LLC now owns 388,024 shares of the industrial products company’s stock worth $4,571,000 after purchasing an additional 16,157 shares in the last quarter. Renaissance Technologies LLC raised its stake in Twin Disc by 33.2% in the 2nd quarter. Renaissance Technologies LLC now owns 131,193 shares of the industrial products company’s stock worth $1,545,000 after purchasing an additional 32,673 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in Twin Disc in the 3rd quarter valued at about $1,384,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Twin Disc from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 30th.

Twin Disc Stock Performance

NASDAQ:TWIN opened at $11.75 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.84 and a current ratio of 2.23. Twin Disc, Incorporated has a fifty-two week low of $10.83 and a fifty-two week high of $18.00. The company has a market cap of $165.72 million, a price-to-earnings ratio of 17.54 and a beta of 0.63. The stock has a fifty day moving average price of $11.93 and a 200-day moving average price of $12.33.

Twin Disc Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $0.16 dividend on an annualized basis and a yield of 1.36%. Twin Disc’s payout ratio is 23.88%.

About Twin Disc

Twin Disc, Incorporated engages in the design, manufacture, and sale of 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.